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    Future Retail Pad Opportunity Title is generated by Realmo AI

    2457 SW Cherry Park Rd, Troutdale, OR 97060

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    For Lease
    Contact for pricing

    Future retail pad site with high visibility and easy access.

    Type:Retail
    Property size:
    22,700 SF
    Added:
    Apr 10, 2023
    Days on Market:
    1153
    Last Refresh:
    May 12 at 10:39 pm

    Property Features for 2457 SW Cherry Park Rd

    General Information

    Standard status
    Active
    Size
    22,700 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 2457 SW Cherry Park Rd Contact us

    2513 $25/Mo

    Size
    1,250 SF
    Type
    Retail
    Contact us

    2515 $25/Mo

    Size
    1,369 SF
    Type
    Retail
    Contact us

    2469 $24/Mo

    Size
    1,518 SF
    Type
    Retail
    Contact us

    2467 $24/Mo

    Size
    900 SF
    Type
    Retail
    Contact us

    2463 $25/Mo

    Size
    1,400 SF
    Type
    Retail
    Contact us

    2471 $22/Mo

    Size
    3,256 SF
    Type
    Retail
    Contact us

    2517 $25/Mo

    Size
    1,200 SF
    Type
    Retail
    Contact us

    2443 $25/Mo

    Size
    2,169 SF
    Type
    Retail
    For all inquires please call or email Doug Magnusen or Kara Phelps at 503-245-1400...
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    Contact us
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    We can help!

    Listing Contact
    Doug Magnusen

    Listing agent Doug Magnusen License #OR

    Listing office HSM Pacific Retail Solutions

    Listing date Apr 10, 2023

    Source Crexi

    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 HSM Pacific Retail Solutions

    HighLights

    • New CRUNCH FITNESS opening in 2026
    • Future Pad Opportunity - 22,700 SF
    • Excellent Visibility on the Corner of 238th Dr and SW Cherry Park Rd
    • Easy Access from I‑84
    • Close Proximity to Reynolds High School (2,700 Students)
    • Year Built: 1998

    Overview

    A future pad opportunity is available, offering 22,700 square feet of space. The location provides excellent visibility on the corner of 238th Drive and SW Cherry Park Road, with easy access from I-84. A new Crunch Fitness is scheduled to open in 2026. The property is in close proximity to Reynolds High School, which has a large student population of approximately 2,700 students.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Troutdale
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.4112525
    Latitude
    45.529367

    Nearby Similar for Lease

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      Retail Space For Lease

      Retail space available for lease in Troutdale, Oregon.
      25117 SE Stark St, Troutdale, OR 97060
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      3,577 SF

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 0 to 3,577 square feet.
      2457 SW Cherry Park Road, Troutdale, OR 97060
      View Details

    FAQs

    What type of property is this?
    Retail space - Future retail pad site with high visibility and easy access.
    Where is this retail space located?
    The property is located at 2457 SW Cherry Park Rd Troutdale, OR.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: New CRUNCH FITNESS opening in 2026; Future Pad Opportunity - **22,700 SF**; **Excellent Visibility** on the Corner of 238th Dr and SW Cherry Park Rd
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Doug Magnusen
    Real Estate License ID: OR
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2457 SW Cherry Park Rd, Troutdale, OR 97060
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