Elevator-Served Two-Story Office
For Sale
Contact for pricing
8060 SW Pfaffle St, Portland, OR 97223
Second-floor office space is available for owner occupancy with elevator service and ample on-site parking.
Property Size21,470 SF
Lot Size1.01 Acres
Price / SF$190.96
Days on Market60
Property Features for 8060 SW Pfaffle St
General Information
Standard status
Active
Size
21,470 SF
Total Parking Spaces
77
Lot size
1.01 Acres
Property subtype
OFFICE
Additional Details
Business Included
No
Amenities
elevator
Listing Agency:
Macadam Forbes
(503) 227-2500
Listed By:
Brett Bayne · License ##940700089
(503) 972-7280
Source:
Moodyscre
Added: Jul 16
Changed: Aug 13
Last Checked: Sep 13 at 8:18AM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
This for-sale office building totals 21,470 square feet on a 1.01-acre lot. Elevator-served and configured with available second-floor space of 9,900 square feet (90' x 110') for an owner occupant. The property also includes 77 parking stalls plus additional off-street parking.
Located at 8060 SW Pfaffle St in Portland, OR 97223, the offering is situated in the City of Tigard within Washington County, with “excellent location and access” noted in the public remarks.
Current gross income is reported at $159,636, supporting a straightforward continuation of income-producing use while providing an opportunity for owner-occupant control of the second floor.
Located at 8060 SW Pfaffle St in Portland, OR 97223, the offering is situated in the City of Tigard within Washington County, with “excellent location and access” noted in the public remarks.
Current gross income is reported at $159,636, supporting a straightforward continuation of income-producing use while providing an opportunity for owner-occupant control of the second floor.
Key Highlights
- 9,900 SF second‑floor office space (90' x 110') available for owner occupant
- Elevator served office space within a 21,470 SF building
- 1.01 AC total lot with 77 parking stalls plus off‑street parking
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
$277,923
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
6.78%
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%
$5,558,460
$5.6M
Cap Rate 7%
$3,970,329
$4.0M
Cap Rate 9%
$3,088,033
$3.1M
Market Conditions
NOI Build-Up for 21,470 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
$489.5K $22.80/SF
− Vacancy
−$119.0K −$5.54/SF
EGI
$370.6K $17.26/SF
− OpEx
−$92.6K −$4.31/SF
NOI
$277.9K $12.94/SF
Area
ZIP 97223
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$5,558,460
Cap Rate 7%
$3,970,329
Cap Rate 9%
$3,088,033
Alternative Uses
Best Use
Office B
$3.97M
$3.47M – $4.63M
NOI $277,923 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.03M
$5.28M – $7.03M
NOI $422,051 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,564
Businesses Nearby
Explore this area
Business Placement
Demographics for 97223, OR
49,967
Population
21,428
Households
2.3
Avg Household Size
39
Median Age
50%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
4,502
Density / Sq Mi
$108,040
Median Household Income
$57,411
Median Earnings
$1,726
Median Rent
$577,600
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office space is available for owner occupancy with elevator service and ample on-site parking.
Where is this office units located?
The property is located at 8060 SW Pfaffle St Portland, OR.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 9,900 SF second‑floor office space (90' x 110') available for owner occupant; Elevator served office space within a 21,470 SF building; 1.01 AC total lot with 77 parking stalls plus off‑street parking
