Hillsboro Office Building For
For Sale
$2,400,000
1985 NE Cornell Rd, Hillsboro, OR 97124
12,501 SF office building in Portland suburban area.
Property Size12,501 SF
Days on Market336
Property Features for 1985 NE Cornell Rd
General Information
Standard status
Active
Size
12,501 SF
Class
A
Property subtype
Office
Building Details
Building Size
12,501 SF
Year Built
2011
Listing Agency:
Tradition Real Estate Partners
Listed By:
Matt Bassist · License #OR #200010026
(503) 998-9817
Source:
Traditionrep
Added: Nov 24, 2025
Changed: Oct 24
Last Checked: Oct 24 at 3:07PM
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 Tradition Real Estate Partners
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Investment Insights
Based on property information with market context.
This 12,501 square foot office building, constructed in 2011, is located in the Portland Suburban Office area. The building is elevator served and zoned C-G.
Key Highlights
- 12,501 SF office building
- Elevator served
- Built in 2011
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,450
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,449,000
$2.4M
Cap Rate 7%
$1,749,286
$1.7M
Cap Rate 9%
$1,360,556
$1.4M
Market Conditions
NOI Build-Up for 12,501 SF
Gross rent
$253.5K $20.28/SF
− Vacancy
−$90.3K −$7.22/SF
EGI
$163.3K $13.06/SF
− OpEx
−$40.8K −$3.27/SF
NOI
$122.5K $9.80/SF
Area
Hillsboro, OR
Vacancy
35.60%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,449,000
Cap Rate 7%
$1,749,286
Cap Rate 9%
$1,360,556
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,450 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $234,988 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 97124, OR
53,487
Population
22,176
Households
2.4
Avg Household Size
35
Median Age
47%
College-Educated
93%
High-School Grad
45.1 sq mi
ZIP Area
1,186
Density / Sq Mi
$107,063
Median Household Income
$54,463
Median Earnings
$1,918
Median Rent
$518,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - 12,501 SF office building in Portland suburban area.
Where is this office building located?
The property is located at 1985 NE Cornell Rd Hillsboro, OR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12,501 SF office building; Elevator served; Built in 2011
