Retail Strip Center with Available
New
For Sale
$1,695,000
39400 PIONEER BLVD, Sandy, OR 97055
Current tenants share the property with an unoccupied area ready for a new occupant.
Property Size10,080 SF
Price / SF$168.15
Days on Market4
Property Features for 39400 PIONEER BLVD
General Information
Standard status
Active
Size
10,080 SF
Property subtype
Commercial
Additional Details
Traffic Count
40,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$17,023
Building Details
Building Size
10,080 SF
Year Built
1965
Buildings
1
Tenancy
Multi
Listing Agency:
Oregon First
Listed By:
Adam Durham · License #201221628
(503) 349-2204
Source:
Eleeterealestate
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 3:18PM
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 Oregon First
Investment Insights
Based on property information with market context.
Built in 1965, this 10,080-square-foot retail property in Sandy has tenants in place as well as vacant space. The open area offers room for a future occupant or use.
The building fronts Highway 26, where more than 40,000 vehicles pass daily.
The building fronts Highway 26, where more than 40,000 vehicles pass daily.
Key Highlights
- Approximately 10,080 square feet of retail space
- Existing tenants and vacant space in the same building
- Highway 26 exposure with 40,000+ vehicles passing each 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
$140,196
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
8.27%
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%
$2,803,920
$2.8M
Cap Rate 7%
$2,002,800
$2.0M
Cap Rate 9%
$1,557,733
$1.6M
Market Conditions
NOI Build-Up for 10,080 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
$216.5K $21.48/SF
− Vacancy
−$16.2K −$1.61/SF
EGI
$200.3K $19.87/SF
− OpEx
−$60.1K −$5.96/SF
NOI
$140.2K $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%
$2,803,920
Cap Rate 7%
$2,002,800
Cap Rate 9%
$1,557,733
Alternative Uses
Best Use
Retail
$2.00M
$1.75M – $2.34M
NOI $140,196 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,459 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
40,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
595
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Current tenants share the property with an unoccupied area ready for a new occupant.
Where is this strip mall located?
The property is located at 39400 PIONEER BLVD Sandy, OR.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Approximately 10,080 square feet of retail space; Existing tenants and vacant space in the same building; Highway 26 exposure with 40,000+ vehicles passing each day
