Building Details

Year built 1964

Floors in Building 1

Building materials Frame, MetalFrame, MetalSiding

Roof type Metal

Listing Agency: eXp Realty, LLC o***@exprealty.net Show Phone

Listed By: Nicole Richards · License #930200328 Show Phone

Added: Aug 20 Changed: Aug 24 Last Checked: Aug 26 at 3:06AM

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MLS# 175811395

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 9.3-acre storage property contains 415 outdoor RV and boat spaces, with reported occupancy of 80%. The facility includes a warehouse, additional office space, two potential sales lots, and a freeway billboard facing Hwy 26. Existing improvements include specialized operating software, a double-gate security system, updated signage, and enhanced site security. The main structures were built in 1964 with frame and metal-frame construction, metal siding, metal roofing, and forced-air heating.

The property is positioned between Hwy 26 and Hwy 212, with reported traffic volumes of 25,100 vehicles per day on Hwy 26 and 10,800 vehicles per day on Hwy 212. County-approved plans are in place for covered RV and boat storage. Zoning is RRFF5, and the property is located in Boring, Oregon, within Clackamas County.

Key Highlights

• 9.3‑acre RV and boat storage property with 415 outdoor spaces
• Reported occupancy of 80% across the outdoor storage inventory
• Between Hwy 26 and Hwy 212; reported traffic is 25,100 and 10,800 vehicles per day

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

$183,771

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

2.83%

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%

$3,675,420 $3.7M

Cap Rate 7%

$2,625,300 $2.6M

Cap Rate 9%

$2,041,900 $2.0M

Market Conditions

NOI Build-Up for 10,385 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

$307.8K $29.64/SF

− Vacancy

−$25.1K −$2.42/SF

EGI

$282.7K $27.22/SF

− OpEx

−$99.0K −$9.53/SF

NOI

$183.8K $17.70/SF

Area

Clackamas County, OR

Vacancy

8.15%

Lease Rate

$29.64 /SF/Yr

Expense Ratio

35.00%

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%

$3,675,420

Cap Rate 7%

$2,625,300

Cap Rate 9%

$2,041,900

Alternative Uses

Best Use

Flex RnD

$2.63M

$2.30M – $3.06M (±1% cap)

NOI $183,771 @ 7.0% cap · market cap 2.83%

Second Best

Self Storage

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,919 @ 7.0% cap · market cap 1.29%

Theoretical Best

Office A

$2.80M

$2.45M – $3.27M (±1% cap)

NOI $196,222 @ 7.0% cap · market cap 3.02%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Self storage facilities

Suggested Use

Top Pick Real Estate Agency HVAC Service Auto Parts Store Electrical Service Hair Salon Plumbing Service

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

80%

Occupancy

Turnkey business

Opportunity

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

71

Businesses Nearby

Explore this area Business Placement

Demographics for 97009, OR

8,399

Population

3,081

Households

2.7

Avg Household Size

47

Median Age

23%

College-Educated

93%

High-School Grad

30.7 sq mi

ZIP Area

274

Density / Sq Mi

$109,286

Median Household Income

$45,263

Median Earnings

$1,209

Median Rent

$615,500

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities 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?

Self storage facility - Outdoor storage operation with county-approved plans for covered expansion.

Where is this self storage facility located?

The property is located at 30401 SE HIGHWAY 212 Boring, OR.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: 9.3‑acre RV and boat storage property with 415 outdoor spaces; Reported occupancy of 80% across the outdoor storage inventory; Between Hwy 26 and Hwy 212; reported traffic is 25,100 and 10,800 vehicles per day