Building Details

Year built 1990

Floors in Building 1

Building materials WoodSiding

Roof type Composition

Listing Agency: Keller Williams Realty Portland Premiere m***@mikehobson.com Show Phone

Listed By: Shawn Varwig · License #201236159 Show Phone

Added: May 18 Changed: Oct 7 Last Checked: Oct 10 at 11:06AM

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MLS# 533093751

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Investment Insights

Based on property information with market context.

This two-suite commercial building contains 3,114 square feet on a 0.27-acre parcel. Suite 1 comprises 1,056 SF and is occupied, while the 2,058 SF second suite is vacant. Constructed in 1990, the property features wood siding, forced-air heating, and a composition roof. C-2 Highway Commercial zoning supports a range of commercial uses within the existing storefront configuration.

The building fronts SW 1st Avenue, identified as Oregon Route 99E, in downtown Canby. The corridor carries approximately 22,000 vehicles daily, and the property is positioned 5 miles from Interstate-5 and 9 miles from Interstate-205. The surrounding trade area includes more than 42,000 residents within five miles and median household incomes exceeding $98,000 within one mile.

Key Highlights

• 3,114‑square‑foot commercial building on a 0.27‑acre parcel
• Two suites: 1,056 SF occupied and 2,058 SF vacant
• Direct frontage on SW 1st Avenue, Oregon Route 99E

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,310

Cap Rate

4.82%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $43,310 @ 7.0% cap · market cap 4.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$840.5K

$735.5K – $980.6K (±1% cap)

NOI $58,838 @ 7.0% cap · market cap 6.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Big Box & Wholesale Store Electrical Service Parking Lot & Garage Real Estate Agency Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

22,000 VPD

Traffic count

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

940

Businesses Nearby

135k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 53% Dining 45% Electronics 2%

McDonald's Dining

24,323 visits/mo 0.3 miles

Fred Meyer Gas Station Shops & Services

22,769 visits/mo 0.3 miles

Burgerville Dining

13,073 visits/mo 0.5 miles

Taco Bell Dining

12,996 visits/mo 0.4 miles

7-Eleven Shops & Services

10,953 visits/mo 0.1 miles

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 Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - C-2 zoning supports two-suite commercial occupancy in downtown Canby.

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 $899,000.

What are key features of this property?

This property features: 3,114‑square‑foot commercial building on a 0.27‑acre parcel; Two suites: 1,056 SF occupied and 2,058 SF vacant; Direct frontage on SW 1st Avenue, Oregon Route 99E