Two-Unit Office
For Sale
$705,000
950 Uglow Av, Dallas, OR 97338
Built in 1978, this two-unit office building offers 3,760 SF and is currently 31% occupied.
Property Size3,760 SF
Price / SF$187.50
Days on Market154
Property Features for 950 Uglow Av
General Information
Standard status
Active
Size
3,760 SF
Total Parking Spaces
30
Property subtype
Commercial
Zoning
CR
Occupancy
31%
Additional Details
Office Units
2
Building Details
Building Size
3,760 SF
Year Built
1978
Listing Agency:
Sperry - Pikes Northwest
(503) 569-0074
Listed By:
Jerry Jones · License #201232293
(503) 569-0074
Source:
Allprofessionalsre
Added: Mar 23
Changed: Aug 23
Last Checked: Aug 23 at 6:49AM
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 Sperry - Pikes Northwest
Investment Insights
Based on property information with market context.
This two-unit office building was built in 1978 and offers 3,760 SF total. The property provides a flexible layout designed to support more than one tenancy configuration, with both units currently in place.
The building is located at 950 SE Uglow Ave in Dallas, OR 97338. It is being offered for sale, and current occupancy is reported at 31%, creating room for an owner to focus on leasing performance through additional tenanting activity.
For buyers evaluating office building investments, the asset’s established structure, two-unit setup, and in-place occupancy profile provide a straightforward foundation for managing and improving net operating results over time.
The building is located at 950 SE Uglow Ave in Dallas, OR 97338. It is being offered for sale, and current occupancy is reported at 31%, creating room for an owner to focus on leasing performance through additional tenanting activity.
For buyers evaluating office building investments, the asset’s established structure, two-unit setup, and in-place occupancy profile provide a straightforward foundation for managing and improving net operating results over time.
Key Highlights
- Built in 1978, two‑unit office building totaling 3,760 SF
- Currently 31% occupied, offering room to increase leasing occupancy
- Two spacious units provide flexibility for different tenancy arrangements
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
$51,775
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
7.34%
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%
$1,035,500
$1.0M
Cap Rate 7%
$739,643
$739.6K
Cap Rate 9%
$575,278
$575.3K
Market Conditions
NOI Build-Up for 3,760 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
$81.2K $21.60/SF
− Vacancy
−$12.2K −$3.24/SF
EGI
$69.0K $18.36/SF
− OpEx
−$17.3K −$4.59/SF
NOI
$51.8K $13.77/SF
Area
Polk County, OR
Vacancy
15.00%
Lease Rate
$21.60 /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%
$1,035,500
Cap Rate 7%
$739,643
Cap Rate 9%
$575,278
Alternative Uses
Best Use
Office B
$739.6K
$647.2K – $862.9K
NOI $51,775 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$998.3K
$873.5K – $1.16M
NOI $69,882 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
31%
Occupancy
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
Business Placement
Demographics for 97338, OR
22,741
Population
9,109
Households
2.5
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
124.8 sq mi
ZIP Area
182
Density / Sq Mi
$73,345
Median Household Income
$37,359
Median Earnings
$1,197
Median Rent
$388,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 1978, this two-unit office building offers 3,760 SF and is currently 31% occupied.
Where is this office building located?
The property is located at 950 Uglow Av Dallas, OR.
What is the asking price?
The asking price for this property is $705,000.
What are key features of this property?
This property features: Built in 1978, two‑unit office building totaling 3,760 SF; Currently 31% occupied, offering room to increase leasing occupancy; Two spacious units provide flexibility for different tenancy arrangements
