Multi-Tenant Retail
For Sale
Contact for pricing
11642 SW Pacific Hwy, Portland, OR 97223
Multi-tenant retail property with 66% occupancy and additional building potential.
Property Size6,980 SF
Price / SF$260.03
Days on Market59
Property Features for 11642 SW Pacific Hwy
General Information
Standard status
Active
Size
6,980 SF
Property subtype
RETAIL
Occupancy
66%
Building Details
Tenancy
Multi
Listing Agency:
Macadam Forbes
(503) 227-2500
Listed By:
Rhys Konrad · License ##201205396
(503) 972-7293
Source:
Moodyscre
Added: Jul 17
Changed: Sep 12
Last Checked: Sep 13 at 10:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Macadam Forbes
Investment Insights
Based on property information with market context.
This multi-tenant retail investment opportunity is currently 66% occupied and offers room to grow through additional leasing. The property is described as underdeveloped, with potential for adding another building to expand the site’s overall income capacity.
The asset is located at 11642 SW Pacific Hwy in Portland, Oregon (97223). As a multi-tenant storefront format, it provides multiple units within a single ownership structure.
With a total size of 6,980 square feet, this is best suited for investors or owners looking to increase occupancy and evaluate development options on the existing site.
The asset is located at 11642 SW Pacific Hwy in Portland, Oregon (97223). As a multi-tenant storefront format, it provides multiple units within a single ownership structure.
With a total size of 6,980 square feet, this is best suited for investors or owners looking to increase occupancy and evaluate development options on the existing site.
Key Highlights
- Multi‑tenant retail investment opportunity
- Currently 66% occupied
- Underdeveloped property with potential for additional building
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
$81,352
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
4.48%
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%
$1,627,040
$1.6M
Cap Rate 7%
$1,162,171
$1.2M
Cap Rate 9%
$903,911
$903.9K
Market Conditions
NOI Build-Up for 6,980 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
$125.6K $18.00/SF
− Vacancy
−$9.4K −$1.35/SF
EGI
$116.2K $16.65/SF
− OpEx
−$34.9K −$5.00/SF
NOI
$81.4K $11.66/SF
Area
ZIP 97223
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,627,040
Cap Rate 7%
$1,162,171
Cap Rate 9%
$903,911
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,352 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,211 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
66%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 81%
Shops & Services 19%
Hampton Inn
Hotels & Casinos
3,964 visits/mo
0.3 miles
Extra Space Storage
Shops & Services
1,057 visits/mo
0.3 miles
Quality Inn Tigard - Portland Southwest
Hotels & Casinos
682 visits/mo
0.4 miles
Demographics for 97223, OR
49,967
Population
21,428
Households
2.3
Avg Household Size
39
Median Age
50%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
4,502
Density / Sq Mi
$108,040
Median Household Income
$57,411
Median Earnings
$1,726
Median Rent
$577,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Portland, OR
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-tenant retail property with 66% occupancy and additional building potential.
Where is this storefront property located?
The property is located at 11642 SW Pacific Hwy Portland, OR.
What is the asking price?
The asking price for this property is $1,815,000.
What are key features of this property?
This property features: Multi‑tenant retail investment opportunity; Currently 66% occupied; Underdeveloped property with potential for additional building
