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    16037 Upper Boones Ferry Rd Tigard, OR 97224
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    16037 Upper Boones Ferry Rd, Tigard, OR 97224

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    • Office Spaces
    • 68,512 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 16037 Upper Boones Ferry Rd

    Year built
    2007
    Property type
    Office Spaces
    Property subtype
    Coworking space

    Description

    Fanno Creek Place offers a prime 715-square-foot executive office suite within a larger, prestigious Class A building totaling 68,512 square feet. Located at 16037 SW Upper Boones Ferry Road in Tigard, Oregon (zip code 97224), this property boasts a convenient location with easy access to I-5 and SW 72nd Avenue, as well as nearby amenities such as Bridgeport Village. Built in 2007, the building features ample free parking, with a ratio of 3.8 spaces per 1,000 square feet. The property sits on a 2.85-acre lot in Washington County and is currently configured as a single suite, although it supports multiple tenancies. This exceptional opportunity provides immediate access to a modern, well-maintained workspace in a highly desirable location. The building is currently partially occupied. The available space is ideal for a variety of businesses seeking a professional and convenient office environment. This listing presents a rare chance to secure space in a high-quality building with excellent accessibility and ample parking. The property's Class A designation reflects its superior construction, amenities, and location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tigard
    County
    Washington
    State
    Oregon
    Longitude
    -122.751
    Latitude
    45.4045

    Comparable in this City

    • Value Estimation by Request
      11,448 SF

      7227 Bridgeport Rd

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    • Value Estimation by Request
      5.38 Acres

      7376 Durham Rd

      OFFICE (GENERAL)
      7376 Durham Rd, Portland, OR 97224-7307
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    • Value Estimation by Request
      0.74 Acres

      15750 72nd Ave

      OFFICE (GENERAL)
      15750 72nd Ave, Portland, OR 97224
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    • Value Estimation by Request
      1.36 Acres

      16101 72nd Ave Ste, Unit 200

      OFFICE (GENERAL)
      16101 72nd Ave Ste, Portland, OR 97224-7232
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    • Value Estimation
      $17,195,000
      67,421 SF

      7624 Bridgeport Rd

      OFFICE (GENERAL)
      7624 Bridgeport Rd, Portland, OR 97224-7700
      View Details
    • Value Estimation
      $2,200,000
      7,024 SF

      7522 Durham Rd

      OFFICE (GENERAL)
      7522 Durham Rd, Portland, OR 97224
      View Details

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      7,407 SF

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    Tigard, OR 97224
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    16037 Upper Boones Ferry Rd, Tigard, OR, 97224
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