Mixed-Use Property in
For Sale
$499,000
Pending
5915 SE MILWAUKIE, Portland, OR 97202
Mixed-use property in desirable Sellwood-Moreland neighborhood with residential/commercial zoning.
Property Size2,380 SF
Lot Size0.13 Acres
Days on Market869
Property Features for 5915 SE MILWAUKIE
General Information
Standard status
Pending
Size
2,380 SF
Lot size
0.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,348
Amenities
Composition Roof
Forced Air Heating
On street
Building Details
Year Built
1906
Listing Agency:
OREGON FIRST
(503) 646-5006
Listed By:
WAYNE PRUNER · License #200010081
Source:
Corcoran
Added: Mar 27, 2024
Changed: Aug 8
Last Checked: Aug 8 at 12:06PM
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 OREGON FIRST
Investment Insights
Based on property information with market context.
This mixed-use property is located in the highly desirable Sellwood-Moreland neighborhood and is zoned CM2 for residential and commercial use. The property offers the potential to operate a retail business and live on the premises. The building has a total size of 2380 square feet. Prospective buyers are advised to conduct their own due diligence to verify all information.
Key Highlights
- Zoned CM2 offering flexible residential/commercial use.
- Highly desirable Sellwood‑Moreland neighborhood.
- Live and operate a retail business on the same property.
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
$33,287
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
6.67%
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%
$665,740
$665.7K
Cap Rate 7%
$475,529
$475.5K
Cap Rate 9%
$369,856
$369.9K
Market Conditions
NOI Build-Up for 2,380 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
$51.4K $21.60/SF
− Vacancy
−$3.9K −$1.62/SF
EGI
$47.6K $19.98/SF
− OpEx
−$14.3K −$5.99/SF
NOI
$33.3K $13.99/SF
Area
ZIP 97202
Vacancy
7.50%
Lease Rate
$21.60 /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%
$665,740
Cap Rate 7%
$475,529
Cap Rate 9%
$369,856
Alternative Uses
Best Use
Retail
$475.5K
$416.1K – $554.8K
NOI $33,287 @ 7.0% cap · market cap 6.67%
Second Best
Office B
$471.7K
$412.7K – $550.3K
NOI $33,017 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$567.8K
$496.8K – $662.4K
NOI $39,746 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in desirable Sellwood-Moreland neighborhood with residential/commercial zoning.
Where is this mixed-use property located?
The property is located at 5915 SE MILWAUKIE Portland, OR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Zoned CM2 offering flexible residential/commercial use.; Highly desirable Sellwood‑Moreland neighborhood.; Live and operate a retail business on the same property.
