Building Details

Year built 1935

Floors in Building 2

Roof type Composition

Listing Agency: Tree City Real Estate L***@treecityrealestate.com

Listed By: Lizbeth Abbott Show Phone

Added: Apr 30 Changed: Sep 3 Last Checked: Sep 10 at 1:06PM

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MLS# 181425382

Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$48,965

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.53%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$979,300 $979.3K

Cap Rate 7%

$699,500 $699.5K

Cap Rate 9%

$544,056 $544.1K

Market Conditions

NOI Build-Up for 3,627 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$87.0K $24.00/SF

− Vacancy

−$8.7K −$2.40/SF

EGI

$78.3K $21.60/SF

− OpEx

−$29.4K −$8.10/SF

NOI

$49.0K $13.50/SF

Area

ZIP 97206

Vacancy

10.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$979,300

Cap Rate 7%

$699,500

Cap Rate 9%

$544,056

Alternative Uses

Best Use

Mixed Use

$699.5K

$612.1K – $816.1K (±1% cap)

NOI $48,965 @ 7.0% cap · market cap 7.53%

Second Best

Apartment 5plus

$682.2K

$597.0K – $796.0K (±1% cap)

NOI $47,757 @ 7.0% cap · market cap 7.35%

Theoretical Best

Office A

$1.02M

$891.2K – $1.19M (±1% cap)

NOI $71,299 @ 7.0% cap · market cap 10.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Johnson Creek Mini-Storage Storage Facility Hugo Kern Furniture Home Decor Store Ruffin Construction Construction Company

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Restaurant Gym & Fitness Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

272

Businesses Nearby

Explore this area Business Placement

Demographics for 97206, OR

51,072

Population

22,348

Households

2.3

Avg Household Size

38

Median Age

49%

College-Educated

94%

High-School Grad

6.5 sq mi

ZIP Area

7,857

Density / Sq Mi

$94,233

Median Household Income

$54,254

Median Earnings

$1,693

Median Rent

$480,500

Median Home Value

Market

Vacancy Rate% for Office in Portland, OR

10.1% 2019

12.3% 2020

16.1% 2021

18.5% 2022

20.8% 2023

21.7% 2024

24.3% 2025

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Frequently Asked Questions

Where is this mixed-use property located?

The property is located at 8935 SE STANLEY Pl Portland, OR.

What is the asking price?

The asking price for this property is $649,900.