Six-Unit Mixed-Use
New
For Sale
$799,000
1218 N Killingsworth St, Portland, OR 97217
CM3 zoning supports a combination of commercial and residential uses.
Property Size5,982 SF
Price / SF$133.57
Days on Market6
Property Features for 1218 N Killingsworth St
General Information
Standard status
Active
Size
5,982 SF
Zoning
CM3
Building Details
Year Built
1927
Tenancy
Multi
Listing Agency:
John L. Scott Real Estate Grants Pass
(541) 292-0433
Listed By:
Patricia Curtin · License #200808002
Source:
Rosecityrealtygroup
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 25 at 5:24AM
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 John L. Scott Real Estate Grants Pass
Investment Insights
Based on property information with market context.
This 5,982-square-foot mixed-use property contains six storefront units, with a restaurant among the existing spaces. A substantial warehouse area adds additional commercial floor area within the building. Constructed in 1927, the property is zoned CM3, a designation that accommodates a broad combination of commercial and residential uses.
The property is located at 1218 N Killingsworth St in Portland, Oregon 97217. Its storefront configuration and warehouse component provide multiple existing spaces within one commercial property, while the zoning supports a mix of use types.
The property is located at 1218 N Killingsworth St in Portland, Oregon 97217. Its storefront configuration and warehouse component provide multiple existing spaces within one commercial property, while the zoning supports a mix of use types.
Key Highlights
- Six storefront units, including a restaurant
- Large warehouse area included within the property
- 5,982 square feet of property size
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
$69,720
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
8.73%
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%
$1,394,400
$1.4M
Cap Rate 7%
$996,000
$996.0K
Cap Rate 9%
$774,667
$774.7K
Market Conditions
NOI Build-Up for 5,982 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
$107.7K $18.00/SF
− Vacancy
−$8.1K −$1.35/SF
EGI
$99.6K $16.65/SF
− OpEx
−$29.9K −$5.00/SF
NOI
$69.7K $11.66/SF
Area
Portland, OR
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%
$1,394,400
Cap Rate 7%
$996,000
Cap Rate 9%
$774,667
Alternative Uses
Best Use
Mixed Use
$1.15M
$1.01M – $1.35M
NOI $80,757 @ 7.0% cap · market cap 10.11%
Second Best
Retail
$996.0K
$871.5K – $1.16M
NOI $69,720 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,593 @ 7.0% cap · market cap 14.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CM3 zoning supports a combination of commercial and residential uses.
Where is this mixed-use property located?
The property is located at 1218 N Killingsworth St Portland, OR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Six storefront units, including a restaurant; Large warehouse area included within the property; 5,982 square feet of property size
