Building Details

Year built 1965

Floors in Building 2

Building materials Block, Concrete, Frame

Roof type Composition

Listing Agency: Oregon First m***@oregonfirst.com Show Phone

Listed By: Adam Durham · License #201221628 Show Phone

Added: Sep 24 Last Checked: Sep 24 at 5:06PM

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MLS# 790873473

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 10,080-square-foot strip center combines established tenancy with vacant space. The building dates to 1965 and has block, concrete, and frame construction beneath a composition roof. The property occupies 0.6 acres and is zoned C1.

Located on Highway 26 in Sandy, the site is exposed to more than 40,000 passing vehicles each day. The existing tenant presence and unoccupied area are both part of the property’s current configuration.

Key Highlights

• 10,080‑square‑foot retail building
• 0.6‑acre property zoned C1
• Established tenants occupy part of the building; additional space is vacant

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 (±1% cap)

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 (±1% cap)

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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Current Use

Sandy Vision Center Physician Trail Pals Horse ... Department Store Sandy Vision Center: ... Physician Stephanie's International Cafe Cafe & Coffee Shop Answer Ally Telecommunications Service

Suggested Use

Top Pick Law Firm Kitchen & Bath Showroom Big Box & Wholesale Store Garden Center Plumbing Service (Bike/Boat/Book/etc) Store

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

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

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 strip malls 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?

Strip mall - A mix of occupied and available retail space sits within a C1-zoned commercial property.

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: 10,080‑square‑foot retail building; 0.6‑acre property zoned C1; Established tenants occupy part of the building; additional space is vacant