Two-Unit Highway-Front Retail
For Sale
$950,000
255 SW 1st Ave, Canby, OR 97013
Two-suite commercial building fronting Oregon Route 99E with one occupied suite and one vacant suite.
Property Size3,114 SF
Days on Market100
Property Features for 255 SW 1st Ave
General Information
Standard status
Active
Size
3,114 SF
Property subtype
Commercial
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$8,305
Building Details
Building Size
3,114 SF
Year Built
1990
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty Portland Premiere
(971) 340-6615
Listed By:
Shawn Varwig · License #201235429
(971) 340-6615
Source:
Metanars
Added: May 18
Changed: Aug 23
Last Checked: Aug 25 at 8:29AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
A two-unit commercial building totaling 3,114 square feet on a 0.27-acre parcel, directly fronting First Avenue (Oregon Route 99E). The property is zoned C-2 Highway Commercial and includes two suites: 1,056 square feet is occupied and 2,058 square feet is vacant, providing flexible options for an investor or owner-user.
The building benefits from prominent street frontage and signage exposure along Oregon Route 99E, where roughly 22,000 vehicles pass daily. The surrounding trade area is supported by more than 42,000 residents within five miles, and median household incomes exceeding $98,000 within one mile. Regional access is also convenient with Interstate 5 approximately five miles away and Interstate 205 about nine miles away.
Do not enter the property without an appointment. Appointments are scheduled by calling Bradley at 503-313-8262. For additional buyer information, email admin@BradleyKingCRE.com.
The building benefits from prominent street frontage and signage exposure along Oregon Route 99E, where roughly 22,000 vehicles pass daily. The surrounding trade area is supported by more than 42,000 residents within five miles, and median household incomes exceeding $98,000 within one mile. Regional access is also convenient with Interstate 5 approximately five miles away and Interstate 205 about nine miles away.
Do not enter the property without an appointment. Appointments are scheduled by calling Bradley at 503-313-8262. For additional buyer information, email admin@BradleyKingCRE.com.
Key Highlights
- 3,114 SF two‑unit commercial building on a 0.27‑acre parcel, fronting First Avenue (Oregon Route 99E)
- One occupied suite (1,056 SF) and one vacant suite (2,058 SF) for dual‑income or owner‑user use
- Zoned C‑2 Highway Commercial with two separate suites for flexible business or leasing options
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
$43,310
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
4.56%
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%
$866,200
$866.2K
Cap Rate 7%
$618,714
$618.7K
Cap Rate 9%
$481,222
$481.2K
Market Conditions
NOI Build-Up for 3,114 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
$66.9K $21.48/SF
− Vacancy
−$5.0K −$1.61/SF
EGI
$61.9K $19.87/SF
− OpEx
−$18.6K −$5.96/SF
NOI
$43.3K $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%
$866,200
Cap Rate 7%
$618,714
Cap Rate 9%
$481,222
Alternative Uses
Best Use
Retail
$618.7K
$541.4K – $721.8K
NOI $43,310 @ 7.0% cap · market cap 4.56%
Second Best
Office B
$575.9K
$503.9K – $671.8K
NOI $40,310 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$840.5K
$735.5K – $980.6K
NOI $58,838 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97013, OR
24,512
Population
9,152
Households
2.7
Avg Household Size
41
Median Age
30%
College-Educated
88%
High-School Grad
58.9 sq mi
ZIP Area
416
Density / Sq Mi
$99,343
Median Household Income
$49,207
Median Earnings
$1,439
Median Rent
$509,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-suite commercial building fronting Oregon Route 99E with one occupied suite and one vacant suite.
Where is this storefront property located?
The property is located at 255 SW 1st Ave Canby, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,114 SF two‑unit commercial building on a 0.27‑acre parcel, fronting First Avenue (Oregon Route 99E); One occupied suite (1,056 SF) and one vacant suite (2,058 SF) for dual‑income or owner‑user use; Zoned C‑2 Highway Commercial with two separate suites for flexible business or leasing options
