1985 Cornell RdHillsboro, OR 97124

Property Details for 1985 Cornell Rd

Year built

1978

Construction

WOOD FRAME

Lot size

0.41 AC

Property size (Sq ft)

8,021 SF

Zone code

C-G

Property type

Office properties

APN

1N232BA-00800

APU

1N232BA00800

Description

This exceptional two-story office building, located at 1985 NE Cornell Rd, Hillsboro, OR 97124, presents a compelling owner-user opportunity. The 7,976 square-foot building, constructed in 2011, is situated on a 0.41-acre lot and boasts a desirable Class B designation. The property features a spacious layout, with 3,545 square feet on the first floor and 4,431 square feet on the second, providing ample room for a growing business. The asking price is $2,500,000, translating to $313.44 per square foot. Ample parking is available with 23 stalls, including one designated for handicap accessibility. The building's location offers a private and serene atmosphere, ideal for a variety of professional uses, including wellness centers, law firms, or financial offices. The property is zoned C-G (City of Hillsboro General Commercial). The 2023-24 property taxes are $12,077.37. This is a rare opportunity to acquire a well-maintained, strategically located office building in the thriving Hillsboro market. The building's size, amenities, and location combine to create a highly attractive investment for an owner-user seeking to establish or expand their business in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,824,285

  6.5%

  $1,683,956

  7%

  $1,563,673

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,584,199

  Geo Method

  $1,544,684

• Alternative Use

  Use

  Valuation

  Residential

  $2,088,105

  Hospitality

  $1,912,693

  Educational

  $1,591,338

  Medical

  $1,646,067

  Retail

  $2,475,415

Location Insight

City

Hillsboro

County

Washington

State

Oregon

Latitude

45.531

Longitude

-122.962

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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