Office Building with
For Sale
$1,150,000
200 CENTER Ave, Molalla, OR 97038
CommercialSale, Molalla, OR
Property Size4,500 SF
Lot Size0.68 Acres
Price / SF$255.56
Days on Market258
Property Features for 200 CENTER Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Directions
Main Street to North on Center Ave
Subdivision
_146
Standard status
Active
APN
01097208
Size
4,500 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Description
356 KAYLERS ADD LTS 7-9 BLK 2
Tax Annual Amount
16024
Legal Description
356 KAYLERS ADD LTS 7-9 BLK 2
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
drive-through lane
secure vault
staff break room
multiple restrooms
storage areas
lighted pylon sign
Building Details
Year built
1980
Floors in Building
1
Building materials
Stone, WoodSiding
Roof type
Flat
Listing Agency:
Engel & Volkers West Portland
(503) 303-5917
Listed By:
Tedi McKnight-Heikes
(503) 819-2430
Added: Dec 10, 2025
Changed: Aug 24
Last Checked: Aug 25 at 1:06PM
MLS# 376985098
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,500-square-foot office building occupies a 0.68-acre parcel and was constructed in 1980. The former bank includes a drive-through lane, secure vault, high ceilings, expansive windows, multiple restrooms, storage areas, and a sizable staff break room. Forced-air heating, central air conditioning, and a flat roof are in place. Stone and wood siding contribute to the exterior construction.
Set on a landscaped corner in Molalla, the property includes a large on-site parking lot and a freestanding lighted pylon sign. The existing configuration is identified as suitable for professional or medical office use, retail, restaurant or café concepts with drive-through capability, financial services, veterinary care, and other specialty practices. The C1 zoning designation is also included in the property information.
Set on a landscaped corner in Molalla, the property includes a large on-site parking lot and a freestanding lighted pylon sign. The existing configuration is identified as suitable for professional or medical office use, retail, restaurant or café concepts with drive-through capability, financial services, veterinary care, and other specialty practices. The C1 zoning designation is also included in the property information.
Key Highlights
- 4,500 square feet on a 0.68‑acre parcel
- Existing drive‑through lane and secure vault from former bank use
- High ceilings, expansive windows, and light‑filled lobby
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
$62,587
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
5.44%
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%
$1,251,740
$1.3M
Cap Rate 7%
$894,100
$894.1K
Cap Rate 9%
$695,411
$695.4K
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
$96.7K $21.48/SF
− Vacancy
−$7.2K −$1.61/SF
EGI
$89.4K $19.87/SF
− OpEx
−$26.8K −$5.96/SF
NOI
$62.6K $13.91/SF
Area
Clackamas County, OR
Vacancy
7.50%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,251,740
Cap Rate 7%
$894,100
Cap Rate 9%
$695,411
Alternative Uses
Best Use
Retail
$894.1K
$782.3K – $1.04M
NOI $62,587 @ 7.0% cap · market cap 5.44%
Second Best
Office B
$832.2K
$728.1K – $970.9K
NOI $58,251 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,026 @ 7.0% cap · market cap 7.39%
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?
Office building - C1-zoned commercial property with a landscaped corner setting, light-filled interior, parking, and prominent pylon signage.
Where is this office building located?
The property is located at 200 CENTER Ave Molalla, OR.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4,500 square feet on a 0.68‑acre parcel; Existing drive‑through lane and secure vault from former bank use; High ceilings, expansive windows, and light‑filled lobby
