20015 Pacific Hwy, Sherwood, OR 97140

Property Details for 20015 Pacific Hwy

Year built

2004

Lot size

1.37 lot acres

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.

Location Insight

City

Sherwood

County

Washington

State

Oregon

Longitude

-122.839377

Latitude

45.3739615