8500 Creekside PlBeaverton, OR 97008

Property Details for 8500 Creekside Pl

Lot size

4.62 AC

Property size (Sq ft)

64,147 SF

Zone code

OI-WS

Property type

Office properties

Property subtype

Other office properties

APN

1S127AC-00600

APU

1S127AC00600

Description

This exceptional investment opportunity presents a 65,496 square foot, Class B, fully leased office building located at 8500 SW Creekside Pl, Beaverton, OR 97008. The property, built in 1984 and extensively renovated in 2018, boasts a single tenant occupancy with a remaining lease term of six years. The tenant, Fiserv Solutions, LLC (an operating subsidiary of Fiserv, Inc. with a S&P rating of BBB), occupies the entire space, providing a stable and reliable income stream. A sublease to Digimarc Corporation extends occupancy through September 2030. The property features 221 parking spaces (a 3.4/1,000 parking ratio), 13' clear height, one grade-level and two dock-high loading doors, and is situated on a 201,247 square foot lot. Improvements completed in 2018 included updated restrooms, elevator cabs, HVAC, plumbing, lighting, and parking lot. The property's OI-WS zoning allows for flexibility and broad tenant appeal. Its convenient location offers quick access to Highway 217, I-5, and Highway 26, benefiting from Beaverton's strong business environment and proximity to Portland. The building's attractive basis offers investors a significant discount to replacement cost, estimated at over $450 per square foot for comparable suburban office space. This is a rare opportunity to acquire a well-maintained, high-occupancy asset with a long-term lease in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $11,370,761

  6.5%

  $10,496,087

  7%

  $9,746,367

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,886,181

  Geo Method

  $12,353,429

• Alternative Use

  Use

  Valuation

  Residential

  $13,015,148

  Hospitality

  $11,921,806

  Educational

  $9,918,803

  Medical

  $10,259,925

  Retail

  $15,429,249

Location Insight

City

Beaverton

County

Washington

State

Oregon

Latitude

45.4578

Longitude

-122.792

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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