Retail Building Near Mt.
For Sale
Contact for pricing
Pending
38454 Pioneer Blvd, Sandy, OR 97055
Free-standing retail building near Mt. Hood on 0.49 acres.
Property Size4,548 SF
Lot Size0.49 Acres
Days on Market224
Property Features for 38454 Pioneer Blvd
General Information
Standard status
Pending
Size
4,548 SF
Total Parking Spaces
7
Lot size
0.49 Acres
Property subtype
Retail, Mixed Use
Zoning
Central Business District (C-1)
Building Details
Year Renovated
2018
Listing Agency:
Colliers - Portland, Oregon
(503) 819-7586
Listed By:
Jon Rubey · License #OR 200606420
Source:
Crexi
Added: Dec 30, 2025
Changed: Aug 10
Last Checked: Aug 9 at 2:21PM
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 Colliers - Portland, Oregon
Investment Insights
Based on property information with market context.
This free-standing retail building is situated on 0.49 acres along a main thoroughfare in Sandy. Currently, the property operates as a retail store on the main level and a full-service ski shop on the lower level. The location is near the Sandlandia Food Cart Pod and Joe’s Donut shop. Its location on Hwy 26 provides accessibility for customers traveling to Mt. Hood.
Key Highlights
- Located on Hwy 26, a main thoroughfare to Mt. Hood, providing easy access for customers.
- Currently operating as a well‑known retail store (Next Adventure) with a ski shop, offering immediate business potential.
- Located directly east of Sandlandia Food Cart Pod, attracting potential customers.
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
$71,445
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
5.72%
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%
$1,428,900
$1.4M
Cap Rate 7%
$1,020,643
$1.0M
Cap Rate 9%
$793,833
$793.8K
Market Conditions
NOI Build-Up for 4,548 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
$134.8K $29.64/SF
− Vacancy
−$20.5K −$4.51/SF
EGI
$114.3K $25.13/SF
− OpEx
−$42.9K −$9.43/SF
NOI
$71.4K $15.71/SF
Area
Clackamas County, OR
Vacancy
15.20%
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%
$1,428,900
Cap Rate 7%
$1,020,643
Cap Rate 9%
$793,833
Alternative Uses
Best Use
Mixed Use
$1.02M
$893.1K – $1.19M
NOI $71,445 @ 7.0% cap · market cap 5.72%
Second Best
Retail
$903.6K
$790.7K – $1.05M
NOI $63,255 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,933 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 97055, OR
20,606
Population
7,931
Households
2.6
Avg Household Size
39
Median Age
26%
College-Educated
95%
High-School Grad
112.6 sq mi
ZIP Area
183
Density / Sq Mi
$105,696
Median Household Income
$54,075
Median Earnings
$1,573
Median Rent
$472,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Free-standing retail building near Mt. Hood on 0.49 acres.
Where is this retail space located?
The property is located at 38454 Pioneer Blvd Sandy, OR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Located on Hwy 26, a main thoroughfare to Mt. Hood, providing easy access for customers.; Currently operating as a well‑known retail store (Next Adventure) with a ski shop, offering immediate business potential.; Located directly east of Sandlandia Food Cart Pod, attracting potential customers.
