Mixed-Use Building in SE
For Sale
$1,899,500
1032 N Killingsworth St # 1038, Portland, OR 97217
6,400 SF mixed-use building on corner lot near I5.
Property Size6,400 SF
Lot Size0.21 Acres
Price / SF$296.80
Days on Market198
Property Features for 1032 N Killingsworth St # 1038
General Information
Standard status
Active
Size
6,400 SF
Lot size
0.21 Acres
Property subtype
Retail
Listing Agency:
(503) 919-2072
Listed By:
Tim Phommany
Source:
Corfac
Added: Jan 26
Changed: Jul 6
Last Checked: Aug 12 at 4:52AM
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 Tim Phommany
Investment Insights
Based on property information with market context.
This 6,400 square foot mixed-use building is located on a corner lot in Southeast Portland. Situated at the intersection of N Killingsworth and N Missouri Ave, the multi-parcel property is adjacent to I5 and close to Peninsula Park and the PCC Cascade Campus. The building features retail space and second-floor living space. The property, situated on a 9,000 square foot lot, is zoned CM2 (Commercial Mixed-Use 2), which allows for up to 4 stories, with a 5th story possible via bonus provision. This presents a significant development potential for investors or owner-users.
Key Highlights
- Significant Development Potential: CM2 Zoning allows up to 4 stories (5th with bonus provision).
- Mixed‑Use Building: Features both retail and 2nd‑floor living space.
- Prime Location: Corner lot at N Killingsworth and N Missouri Ave, adjacent to I5.
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
$86,400
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
4.55%
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%
$1,728,000
$1.7M
Cap Rate 7%
$1,234,286
$1.2M
Cap Rate 9%
$960,000
$960.0K
Market Conditions
NOI Build-Up for 6,400 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
$153.6K $24.00/SF
− Vacancy
−$15.4K −$2.40/SF
EGI
$138.2K $21.60/SF
− OpEx
−$51.8K −$8.10/SF
NOI
$86.4K $13.50/SF
Area
Portland, OR
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%
$1,728,000
Cap Rate 7%
$1,234,286
Cap Rate 9%
$960,000
Alternative Uses
Best Use
Mixed Use
$1.23M
$1.08M – $1.44M
NOI $86,400 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,176 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,809 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,482
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 Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 6,400 SF mixed-use building on corner lot near I5.
Where is this mixed-use property located?
The property is located at 1032 N Killingsworth St # 1038 Portland, OR.
What is the asking price?
The asking price for this property is $1,899,500.
What are key features of this property?
This property features: Significant Development Potential: CM2 Zoning allows up to 4 stories (5th with bonus provision).; Mixed‑Use Building: Features both retail and 2nd‑floor living space.; Prime Location: Corner lot at N Killingsworth and N Missouri Ave, adjacent to I5.
