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Property profile

23680-23700 West Union Rd Hillsboro, OR 97124

OFF-MARKET
Land
9.76 ac lot
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Property summary

AI-generated overview

This exceptional 9.76-acre industrial land parcel presents a rare development opportunity in Hillsboro, Oregon. Located at 23680-23700 NW West Union Rd, this property is zoned IS (Industrial Sanctuary) and boasts a usable area of approximately 8.0 to 8.5 acres, depending on future cut and fill determined by the buyer. The site is currently undergoing annexation into the City of Hillsboro, with completion expected in August 2024. All existing improvements have been removed. This is one of the last privately owned developable parcels in this highly sought-after location. The property's strategic position offers excellent access to major transportation routes and is adjacent to a 29-acre parcel owned by Portland General Electric (PGE). A recent appraisal supports the asking price of $6,850,000. This presents a unique chance to acquire a substantial industrial land holding in a thriving Oregon market. The property is situated in Washington County, Oregon, with a 97124 zip code. The precise usable acreage will be finalized following a buyer-determined cut and fill assessment.

Property profile

Verified
Property type Land
Lot 9.76 ac (425,146 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

23680-23700 West Union Rd Hillsboro, OR 97124
Hillsboro metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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