Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    23700 Nww Un Rd Hillsboro, OR 97124-8550
    Back to Search
    Property profile & analytics

    23700 Nww Un Rd, Hillsboro, OR 97124-8550

    View on Map
    • Retail space
    • 3,240 SF
    • 5.03 lot acres
    Off-Market
    Last Sale Oct 31, 2022
    $2,000,000
    Property ID
    US71-0853177
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 23700 Nww Un Rd

    Lot size
    5.03 lot acres
    Zone code
    FD-20
    Property type
    Retail space
    APN
    1N21500-00218
    APU
    1N2150000218

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 31, 2022 $2,000,000 Glee Pdx LLC Event Properties LLC Warranty Deed —
    Nov 12, 2019 — Charles J Meeker — Trustees Deed · related $550k · Inroads FCU
    Aug 30, 2019 $1,440,000 Event Properties LLC Kosmas,mike & Kathleen Warranty Deed $590k · Mike & Kathleen Kosmas
    Mar 1, 1988 $150,000 Mike Kosmas Unknown Grant Deed —
    — — Mike Kosmas — Deed Of Trust · related $923k · World Alliance Financial
    — — Event Properties LLC — Deed Of Trust · related $590k · Mike & Kathleen Kosmas
    — — Mike Kosmas — Deed Of Trust · related $1 · Hud

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Washington
    State
    Oregon
    Longitude
    -122.921
    Latitude
    45.5751
    CBSA code
    38900
    CBSA name
    PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,207
    $0.00
    $0.00
    $323,760
    -
    $1,623,680
    $262,180
    $1,885,860

    Comparable in this City

    • Value Estimation
      $30,895,000
      175,720 SF

      7385 Imbrie Dr

      RETAIL STORES (PERSONAL SERVICES)
      7385 Imbrie Dr, Hillsboro, OR 97124-7595
      View Details
    • Value Estimation
      $4,750,000
      13,755 SF

      153 43rd Ave

      RETAIL STORES (PERSONAL SERVICES)
      153 43rd Ave, Hillsboro, OR 97124-7539
      View Details
    • Value Estimation
      $4,625,000
      13,400 SF

      1415 61st Ave

      RETAIL STORES (PERSONAL SERVICES)
      1415 61st Ave, Hillsboro, OR 97124-5117
      View Details
    • Value Estimation by Request
      2,000 SF

      7800 Walker Rd, Unit 200

      RETAIL STORES (PERSONAL SERVICES)
      7800 Walker Rd, Hillsboro, OR 97124-7826
      View Details
    • Value Estimation
      $1,035,000
      3,740 SF

      1853 Cornell Rd Ste C

      RETAIL STORES (PERSONAL SERVICES)
      1853 Cornell Rd Ste C, Hillsboro, OR 97124-2861
      View Details
    • Value Estimation
      $805,000
      2,339 SF

      6221 Cornell Rd

      RETAIL STORES (PERSONAL SERVICES)
      6221 Cornell Rd, Hillsboro, OR 97124-9074
      View Details

    Similar Nearby for Sale

    • $699,000
      3,197 SF

      Downtown Hillsboro Commercial Building For Sale

      3,197 SF commercial building in the heart of Hillsboro.
      126 NE 2Nd Ave, Hillsboro, OR 97124
      View Details
    • $628,000
      1,887 SF

      Prime Sunset Corridor Commercial Space

      Two-level commercial space in a dynamic, sought-after business hub.
      3463 NE John Olsen Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      36,000 SF

      Hillsboro Industrial Space Available

      36,000 SqFt industrial space for sale in Hillsboro, Oregon.
      4282 NE 30Th Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      388,958 SF

      New Industrial Development in Hillsboro

      New industrial development with ample loading and parking.
      4630 Ne Sewell Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing

      Corner Lot in Hillsboro, OR

      Rare corner lot with utilities in Hillsboro, Oregon.
      Hillsboro, OR 97124
      View Details
    • Contact for pricing
      2,077 SF

      Hillsboro Office Space Opportunity

      Clean, ready-to-use office space in a rapidly growing area.
      5295 NE Elam Young Pkwy, Hillsboro, OR 97124
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,496 SF

      Premier Open-Air Retail Center Space

      Retail space available in a premier open-air shopping center.
      2265 NE Allie Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      6,989 SF

      Premier Open-Air Retail Center

      Premier open-air center with national retailers and ample parking.
      2295 NE Allie Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      2,167 SF

      Hillsboro Retail Space Available

      Retail space available in Hillsboro, near Nike and Intel.
      2185-2215 NE Allie Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      2,734 SF

      Retail Space in Orenco Station

      Second generation retail space available in Nexus at Orenco Station.
      1299 NE Orenco Station Pkwy, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      2,400 SF

      Retail Pads in Tanasbourne Area

      Future build-to-suit retail pads in high-traffic Tanasbourne trade area.
      2790 NE 106Th Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      3,517 SF

      Hillsboro Retail Space For Rent

      Retail space available in Hillsboro, Oregon near Nike and Intel.
      10010-10072 NW Emma Way, Hillsboro, OR 97124
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23700 Nww Un Rd
    Hillsboro, OR 97124-8550
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    23700 Nww Un Rd, Hillsboro, OR, 97124
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!