Single-Tenant Retail
For Sale
$2,395,000
201 West Historic Columbia River Highway, Troutdale, OR 97060
Built in 1941 and remodeled in 2008, this retail property sits on 1.05 acres with nearly 300 feet of street frontage.
Property Size16,865 SF
Lot Size1.05 Acres
Price / SF$142.01
Days on Market49
Property Features for 201 West Historic Columbia River Highway
General Information
Standard status
Active
Size
16,865 SF
Lot size
1.05 Acres
Property subtype
Retail
Zoning
MU-1
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
16,865 SF
Year Built
1941
Year Renovated
2008
Tenancy
Single
Listing Agency:
Capacity Commercial Group
(503) 969-9596
Listed By:
Jim Wierson II · License #201217195
(503) 969-9596
Source:
Capacitycommercial
Added: Jun 25
Changed: Aug 9
Last Checked: Aug 12 at 4:02AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
Located at the gateway to the Columbia River Gorge, 201 W Historic Columbia River Hwy is a 16,865 SF single-tenant retail building on a 1.05-acre parcel with nearly 300 feet of street frontage. The property was built in 1941 and remodeled in 2008, and it is currently positioned for continued retail occupancy under MU-1 mixed-use zoning.
The site provides approximately 2.3 parking spaces per 1,000 SF and is minutes from I-84, about 12 miles east of Portland. This combination of frontage and highway proximity supports a high-visibility retail setting on a standalone parcel.
The available configuration is a single-tenant building, offering one consolidated retail footprint on the street-facing site.
The site provides approximately 2.3 parking spaces per 1,000 SF and is minutes from I-84, about 12 miles east of Portland. This combination of frontage and highway proximity supports a high-visibility retail setting on a standalone parcel.
The available configuration is a single-tenant building, offering one consolidated retail footprint on the street-facing site.
Key Highlights
- 16,865 SF single‑tenant retail building on a 1.05‑acre parcel with nearly 300 ft of street frontage.
- Built in 1941 and remodeled in 2008.
- MU‑1 mixed‑use zoning.
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
$196,562
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
8.21%
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%
$3,931,240
$3.9M
Cap Rate 7%
$2,808,029
$2.8M
Cap Rate 9%
$2,184,022
$2.2M
Market Conditions
NOI Build-Up for 16,865 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
$303.6K $18.00/SF
− Vacancy
−$22.8K −$1.35/SF
EGI
$280.8K $16.65/SF
− OpEx
−$84.2K −$5.00/SF
NOI
$196.6K $11.66/SF
Area
Multnomah County, 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%
$3,931,240
Cap Rate 7%
$2,808,029
Cap Rate 9%
$2,184,022
Alternative Uses
Best Use
Retail
$2.81M
$2.46M – $3.28M
NOI $196,562 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.55M
$3.98M – $5.31M
NOI $318,659 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
187k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 56%
Dining 30%
Shops & Services 8%
Beauty & Spa 4%
McDonald's
Dining
29,526 visits/mo
0.5 miles
Starbucks
Dining
21,747 visits/mo
0.2 miles
Coach
Apparel
11,012 visits/mo
0.2 miles
Boot Barn
Apparel
10,126 visits/mo
0.5 miles
Columbia Sportswear
Apparel
8,340 visits/mo
0.1 miles
Demographics for 97060, OR
21,792
Population
7,823
Households
2.8
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
17.5 sq mi
ZIP Area
1,245
Density / Sq Mi
$84,164
Median Household Income
$42,162
Median Earnings
$1,560
Median Rent
$425,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Built in 1941 and remodeled in 2008, this retail property sits on 1.05 acres with nearly 300 feet of street frontage.
Where is this retail space located?
The property is located at 201 West Historic Columbia River Highway Troutdale, OR.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 16,865 SF single‑tenant retail building on a 1.05‑acre parcel with nearly 300 ft of street frontage.; Built in 1941 and remodeled in 2008.; MU‑1 mixed‑use zoning.
