Former Bank Drive-Through
For Sale
$1,299,000
200 CENTER Ave, Molalla, OR 97038
Former bank building on a landscaped corner lot with a drive-through window, vault, large windows, and high ceilings.
Property Size4,500 SF
Price / SF$288.67
Days on Market348
Property Features for 200 CENTER Ave
General Information
Standard status
Active
Size
4,500 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$16,024
Amenities
landscaped corner lot
large windows
high ceilings
drive-through window
vault
large break room
restrooms
storage
large parking lot
free standing light box pylon sign
Central Air
3
Flat
C1
24 Parking Spaces. On Site.
Handicapped Access, Storage Area, Outdoor Lights. Paved Road.
Building Details
Year Built
1980
Listing Agency:
Engel & Volkers West Portland
(503) 819-2430
Listed By:
Tedi McKnight-Heikes
(503) 819-2430
Source:
Xome
Added: Aug 29, 2025
Changed: Aug 8
Last Checked: Aug 11 at 4:43AM
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 Engel & Volkers West Portland
Investment Insights
Based on property information with market context.
This former bank building sits on a landscaped corner lot and is approximately 4,500 square feet. The property still includes a drive-through window and a vault, along with large windows and high ceilings that bring natural light into the interior. The layout features an entry lobby area, a large break room, restrooms, and back-of-house storage.
The building offers off-street parking on a large parking lot and includes a free-standing light box pylon sign for business visibility. It is shown by appointment only.
The existing improvements and drive-through feature support a range of commercial uses described in the remarks, including office, retail, restaurant, medical, veterinary, or coffee/food concepts.
The building offers off-street parking on a large parking lot and includes a free-standing light box pylon sign for business visibility. It is shown by appointment only.
The existing improvements and drive-through feature support a range of commercial uses described in the remarks, including office, retail, restaurant, medical, veterinary, or coffee/food concepts.
Key Highlights
- Approx 4,500 SF former bank building on a landscaped corner lot in Molalla
- Drive‑through window and vault included in the building
- Central air cooling and heating system listed as “3”
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
$68,824
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
5.30%
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%
$1,376,480
$1.4M
Cap Rate 7%
$983,200
$983.2K
Cap Rate 9%
$764,711
$764.7K
Market Conditions
NOI Build-Up for 4,500 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
$133.4K $29.64/SF
− Vacancy
−$18.7K −$4.15/SF
EGI
$114.7K $25.49/SF
− OpEx
−$45.9K −$10.20/SF
NOI
$68.8K $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%
$1,376,480
Cap Rate 7%
$983,200
Cap Rate 9%
$764,711
Alternative Uses
Best Use
Healthcare Medical
$983.2K
$860.3K – $1.15M
NOI $68,824 @ 7.0% cap · market cap 5.30%
Second Best
Retail
$894.1K
$782.3K – $1.04M
NOI $62,587 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,026 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 97038, OR
17,173
Population
6,423
Households
2.7
Avg Household Size
38
Median Age
20%
College-Educated
90%
High-School Grad
130.8 sq mi
ZIP Area
131
Density / Sq Mi
$87,585
Median Household Income
$45,681
Median Earnings
$1,497
Median Rent
$452,200
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?
Bank - Former bank building on a landscaped corner lot with a drive-through window, vault, large windows, and high ceilings.
Where is this bank located?
The property is located at 200 CENTER Ave Molalla, 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: Approx 4,500 SF former bank building on a landscaped corner lot in Molalla; Drive‑through window and vault included in the building; Central air cooling and heating system listed as “3”
