20015 Pacific Hwy Sherwood, OR 97140

Property Details for 20015 Pacific Hwy

Year built

2004

Lot size

1.37 lot acres

Property size

18,422 SF

Property type

Commercial real estate

Description

This exceptional Class A office building, totaling 18,422 net rentable square feet, presents a compelling investment opportunity. Located at 20015 SW Pacific Hwy, Sherwood, OR 97140, this 100% occupied property boasts a strong tenant roster of professional and medical businesses, all with scheduled annual rent increases (3% for 7/9 tenants, 2% for 1, and 1 expiring 4/30/25). Built in 2004 on a 1.37-acre lot, the building features 82 parking spaces and has undergone over $100,000 in recent capital improvements. The asking price is $3,900,000, representing a 6.50% cap rate and a price per square foot well below replacement cost at $212. Situated on Pacific Highway with excellent visibility and accessibility, this property benefits from high traffic counts (over 44,700 vehicles daily) and a dense, affluent residential base (142,298 residents with average incomes exceeding $149,9K). The property's location in Sherwood, a rapidly growing submarket in the Portland MSA, offers significant upside potential, particularly given the opportunity to increase rental rates to market levels (new leases are being signed at $25/PSF and higher). This fee-simple ownership presents a rare chance to acquire a high-quality, well-maintained asset in a prime location.