Freestanding Two-Unit Office
For Sale
$1,299,000
19230 SE McLoughlin Blvd, Gladstone, OR 97027
Includes a built-out dental suite and a separate retail unit for flexible commercial use.
Property Size4,000 SF
Price / SF$324.75
Days on Market22
Property Features for 19230 SE McLoughlin Blvd
General Information
Standard status
Active
Size
4,000 SF
Additional Details
Office Units
1
Building Details
Year Built
1968
Buildings
1
Building Size
4,000 SF
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 313-8262
Listed By:
Bradley King · License #201235429
Source:
Foxrealestategroups
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 28 at 8:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
This freestanding office property contains two commercial units totaling 4,000 SF. The larger 3,200 SF suite has been configured as a dental office with a newer dental buildout, while the 800 SF secondary unit is designated for retail use. Both units are expected to be vacant at closing.
The building sits along McLoughlin Blvd in Gladstone, providing direct boulevard exposure for the property. Constructed in 1968, the two-unit configuration supports an owner-user arrangement, medical or professional office occupancy, or a combination of office and retail uses supported by the existing layout.
The building sits along McLoughlin Blvd in Gladstone, providing direct boulevard exposure for the property. Constructed in 1968, the two-unit configuration supports an owner-user arrangement, medical or professional office occupancy, or a combination of office and retail uses supported by the existing layout.
Key Highlights
- 4,000 SF freestanding office building with two commercial units
- 3,200 SF dental office suite with newer dental buildout
- Separate 800 SF retail unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,177
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,223,540
$1.2M
Cap Rate 7%
$873,957
$874.0K
Cap Rate 9%
$679,744
$679.7K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$118.6K $29.64/SF
− Vacancy
−$16.6K −$4.15/SF
EGI
$102.0K $25.49/SF
− OpEx
−$40.8K −$10.20/SF
NOI
$61.2K $15.29/SF
Area
Clackamas County, OR
Vacancy
14.00%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,223,540
Cap Rate 7%
$873,957
Cap Rate 9%
$679,744
Alternative Uses
Best Use
Healthcare Medical
$874.0K
$764.7K – $1.02M
NOI $61,177 @ 7.0% cap · market cap 4.71%
Second Best
Retail
$794.8K
$695.4K – $927.2K
NOI $55,633 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$1.08M
$944.7K – $1.26M
NOI $75,579 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 97027, OR
12,599
Population
5,365
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
5,040
Density / Sq Mi
$91,957
Median Household Income
$49,689
Median Earnings
$1,721
Median Rent
$464,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Includes a built-out dental suite and a separate retail unit for flexible commercial use.
Where is this office building located?
The property is located at 19230 SE McLoughlin Blvd Gladstone, OR.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 4,000 SF freestanding office building with two commercial units; 3,200 SF dental office suite with newer dental buildout; Separate 800 SF retail unit
