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23620-23888 SW Pacific Hwy - Goose Creek Development Opportunity 7.23 Acres of Commercial Land Offered at $4,356,000 in Sherwood, OR 97140
Investment Highlights
- 7.23 gross acres | 4.0 usable acres | combined sale only
- Oregon's largest high school directly across 99W -- approximately 2,500 students, 350,000 SF
- Annexation underway: Office Commercial designation upon annexation; General Commercial zone change supportable
- Incredible location and Priced to move at $25/Usable SF
- Carry-Offset Income of $113,000/yr
- Brookman Sanitary Sewer Trunk Main under active construction with recorded easement on Parcel 2 - City water at property line
Executive Summary
Carry-offset income. $113,166 in current representable annual income reduces effective holding cost during entitlement.
Incredible Location and Priced to move at $25/usable SF.
1,300 linear feet of contiguous Highway 99W frontage, in process of annexation, with sewer infrastructure under active construction and income offsetting the carry. This is a commercial corridor position that is rarely assembled in the Portland metropolitan area – and it will not be available again at this basis once entitlement is complete.
Two adjacent parcels totaling 7.23 gross acres on Highway 99W in Sherwood, Oregon, offered as a single transaction. Both parcels are currently unincorporated Washington County land in active annexation proceedings. Upon annexation, the default city designation is Office Commercial – a zone that permits multi-family residential above ground-floor commercial, retail, restaurants, offices, and health clubs. The City of Sherwood has expressed openness to a zone change argument to General Commercial or other
commercial designation; the final determination rests with city council and the application narrative.
The properties sit at the commercial gateway to Sherwood West – Washington County's largest planned urban expansion – directly across 99W from Oregon's largest high school. The only inverted arch pedestrian bridge in the United States, a $29 million city investment completed August 2025, now connects the school and the Sherwood Family YMCA directly to the east side of 99W.
Property Facts
1 Lot Available
Lot
| Price | $4,356,000 | Lot Size | 7.23 AC |
| Price Per AC | $602,489.63 |
| Price | $4,356,000 |
| Price Per AC | $602,489.63 |
| Lot Size | 7.23 AC |
7.23 AC (4.0 usable) on Hwy 99W in Sherwood, OR. 1,300 LF frontage, 36,994 VPD. Annexation in process; mixed-use permitted outright under city default zoning, no rezone required. Across from Oregon's largest high school. Combined sale only.
Description
Two adjacent parcels offered as a combined sale along the Highway 99W corridor in Sherwood, Oregon. The offering totals 7.23 acres, including approximately 4 usable acres, and is priced at $4,356,000, or approximately $25 per usable square foot. The property benefits from extensive highway frontage, multiple access points, existing income, and ongoing annexation activity that may support a range of future commercial development opportunities. Existing utility infrastructure and planned municipal improvements further enhance the property's development potential. The combined configuration creates a sizable land position within a growing corridor near major residential, educational, and community amenities.
Property Taxes
| Parcel Number | R0577183 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $89,690 |
Property Taxes
