Two-Story Mixed-Use
For Sale
Contact for pricing
22566 Southwest Washington Street, Sherwood, OR 97140
Established retail and office occupancy supports a diversified commercial configuration in Old Town Sherwood.
Property Size10,553 SF
Price / SF$208.47
Days on Market18
Property Features for 22566 Southwest Washington Street
General Information
Standard status
Active
Size
10,553 SF
Property subtype
Retail, Office, Business for Sale
Zoning
RC
Occupancy
100%
Additional Details
Asking Price
$2,200,000
Corner Location
Yes
Office Units
13
Building Details
Year Built
1914
Buildings
2
Stories
2
Tenancy
Multi
Building Size
10,553 SF
Listing Agency:
Miller Consulting Group LLC
Listed By:
Mary Martin Miller · License #200107121
(503) 740-9200
Source:
Crexi
Added: Aug 17
Changed: Sep 3
Last Checked: Sep 3 at 2:22AM
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 Miller Consulting Group LLC
Investment Insights
Based on property information with market context.
The mixed-use property contains 10,553 square feet across two floors and was built in 1914. Its ground level provides 6,228 square feet for four retail tenants, while the upper floor includes 4,325 square feet arranged as 13 office spaces. More than 17 tenants occupy the building, creating a combination of street-level commerce and professional office use. The property is zoned RC.
Located at the intersection of Southwest Washington Street and Southwest Railroad Street in Old Town Sherwood, the building is near Araceli’s Cocina, Fat Milo’s Restaurant, Mason Italian Restaurant, The Sherwood Center for the Performing Arts, Sherwood Cannery Square, and the seasonal Sherwood Saturday Market. The property is also identified as 16079 SW Railroad Street.
Located at the intersection of Southwest Washington Street and Southwest Railroad Street in Old Town Sherwood, the building is near Araceli’s Cocina, Fat Milo’s Restaurant, Mason Italian Restaurant, The Sherwood Center for the Performing Arts, Sherwood Cannery Square, and the seasonal Sherwood Saturday Market. The property is also identified as 16079 SW Railroad Street.
Key Highlights
- 10,553 square feet across two floors
- 6,228‑square‑foot first floor with 4 retail tenants
- 4,325‑square‑foot second floor configured with 13 office spaces
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
$165,975
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
7.54%
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%
$3,319,500
$3.3M
Cap Rate 7%
$2,371,071
$2.4M
Cap Rate 9%
$1,844,167
$1.8M
Market Conditions
NOI Build-Up for 10,553 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
$312.8K $29.64/SF
− Vacancy
−$47.2K −$4.48/SF
EGI
$265.6K $25.16/SF
− OpEx
−$99.6K −$9.44/SF
NOI
$166.0K $15.73/SF
Area
Washington County, OR
Vacancy
15.10%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
37.50%
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%
$3,319,500
Cap Rate 7%
$2,371,071
Cap Rate 9%
$1,844,167
Alternative Uses
Best Use
Mixed Use
$2.37M
$2.07M – $2.77M
NOI $165,975 @ 7.0% cap · market cap 7.54%
Second Best
Office B
$1.95M
$1.71M – $2.28M
NOI $136,605 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,396 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13
Office units
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 97140, OR
28,365
Population
9,540
Households
3
Avg Household Size
38
Median Age
48%
College-Educated
95%
High-School Grad
44.6 sq mi
ZIP Area
636
Density / Sq Mi
$119,241
Median Household Income
$58,718
Median Earnings
$1,934
Median Rent
$618,000
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?
Mixed-use property - Established retail and office occupancy supports a diversified commercial configuration in Old Town Sherwood.
Where is this mixed-use property located?
The property is located at 22566 Southwest Washington Street Sherwood, OR.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 10,553 square feet across two floors; 6,228‑square‑foot first floor with 4 retail tenants; 4,325‑square‑foot second floor configured with 13 office spaces
