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    Well-Maintained Strip Mall Investment Title is generated by Realmo AI

    13116 NE SANDY, Portland, OR 97230

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    For Sale
    $2,480,973

    Fully leased strip mall with expansion and income potential.

    Property size:
    17,500 SF
    Price / SF:
    $141/SF
    Added:
    Jul 16, 2025
    Days on Market:
    302
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 13116 NE SANDY

    General Information

    Standard status
    Active
    Size
    17,500 SF

    Building Details

    Year Built
    1968

    We can help!

    Listing Contact
    CORNELL MANN

    Listing agent CORNELL MANN

    Listing office GREAT WESTERN REAL ESTATE CO

    Listing date Jul 16, 2025

    Source Corcoran

    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 GREAT WESTERN REAL ESTATE CO

    HighLights

    • High‑visibility location on a busy street near Costco, with easy access via major roads.
    • Fully leased strip mall with 8 tenants across 2 buildings, providing immediate income.
    • Potential for increased income by raising rents to market value.
    • Opportunity for expansion by converting a 350 sq. ft. storage room into rentable space.
    • Favorable return on investment with potential for further income through expansion on the adjacent lot.
    • Well‑maintained property with diverse tenants, attractive curb appeal, and ample parking.

    Overview

    This owner-managed income property features a well-maintained strip mall comprising two buildings with a total of eight tenants, all currently fully leased. Located in a highly visible area along a busy arterial street, the property is conveniently situated minutes from Costco and offers excellent accessibility via Sandy Blvd and NE 131st Ave. The strip mall boasts impressive curb appeal and ample parking. A framed and roofed 350 sq. ft. storage room presents an opportunity for conversion into rentable space. There is significant potential for increased returns through raising rents, as the current lease rates are below market value. The property offers a favorable return on investment and has the potential for increased income through additional investment, such as expanding into the adjacent vacant lot. This property is available for sale only in conjunction with the neighboring corner lot, and both transactions will occur simultaneously. The strip mall features a diverse mix of tenants, making it a compelling investment option. The property size is 17500 sq. ft.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mi Lindo Acapulco ... Restaurant TMB PDX Best ... Restaurant Tacos El Campeón Restaurant La Alegria Restaurant Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.528
    Latitude
    45.5553

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    FAQs

    What type of property is this?
    Strip mall - Fully leased strip mall with expansion and income potential.
    Where is this strip mall located?
    The property is located at 13116 NE SANDY Portland, OR.
    What is the asking price?
    The asking price for this property is $2,480,973.
    What are key features of this property?
    This property features: High‑visibility location on a busy street near Costco, with easy access via major roads.; Fully leased strip mall with 8 tenants across 2 buildings, providing immediate income.; Potential for increased income by raising rents to market value.
    We can help!
    Listing Contact
    CORNELL MANN
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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