Remodeled Storefront with Attached
For Sale
$200,000
Pending
15231 SE Division, Portland, OR 97236
Remodeled storefront with attached house and large backyard.
Property Size1,300 SF
Days on Market912
Property Features for 15231 SE Division
General Information
Standard status
Pending
Size
1,300 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,000
Building Details
Year Built
1958
Listing Agency:
EQUITY OREGON REAL ESTATE
(503) 780-3239
Listed By:
SOO PAIK
(503) 667-5686
Source:
Corcoran
Added: Apr 9, 2024
Changed: Aug 8
Last Checked: Jul 21 at 2:18PM
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 EQUITY OREGON REAL ESTATE
Investment Insights
Based on property information with market context.
The property features a remodeled storefront with an attached three-bedroom house. The house is connected to the back of the store. The property includes a large backyard. The combined rent for both the storefront and the house is less than $4,000 per month, including NNN fees. The daily sales for the storefront are approximately $1,600, with an average net income of $10,000 per month. The property size is 1,300 square feet.
Key Highlights
- Established smoke shop business with strong daily sales (approx. $1,600/day) and net monthly income ($10,000/month).
- Includes a remodeled 3BR house attached to the back of the store for convenient living and business operation.
- Low total rent (less than $4,000/month including NNN fees).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,151
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,020
$303.0K
Cap Rate 7%
$216,443
$216.4K
Cap Rate 9%
$168,344
$168.3K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$23.4K $18.00/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$21.6K $16.65/SF
− OpEx
−$6.5K −$5.00/SF
NOI
$15.2K $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 Rate 5%
$303,020
Cap Rate 7%
$216,443
Cap Rate 9%
$168,344
Alternative Uses
Best Use
Retail
$216.4K
$189.4K – $252.5K
NOI $15,151 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.1K
$319.4K – $425.9K
NOI $25,555 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97236, OR
40,193
Population
13,736
Households
2.9
Avg Household Size
36
Median Age
21%
College-Educated
81%
High-School Grad
7.7 sq mi
ZIP Area
5,220
Density / Sq Mi
$68,582
Median Household Income
$38,131
Median Earnings
$1,436
Median Rent
$414,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled storefront with attached house and large backyard.
Where is this storefront property located?
The property is located at 15231 SE Division Portland, OR.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Established smoke shop business with strong daily sales (approx. $1,600/day) and net monthly income ($10,000/month).; Includes a remodeled 3BR house attached to the back of the store for convenient living and business operation.; Low total rent (less than $4,000/month including NNN fees).
