Contemporary Storefront
For Sale
Contact for pricing
900 N Tomahawk Island Dr, Portland, OR 97217
Retail space features glass frontage, exposed wooden beams, and direct exposure to I-5 traffic.
Property Size16,000 SF
Price / SF$137.50
Days on Market1795
Property Features for 900 N Tomahawk Island Dr
General Information
Standard status
Active
Size
16,000 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Listing Agency:
HSM Pacific Retail Solutions
(503) 863-3518
Listed By:
Brock Switzer · License #200304224
(503) 863-3518
Source:
Moodyscre
Added: Oct 1, 2021
Changed: Aug 29
Last Checked: Aug 29 at 6:49PM
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 HSM Pacific Retail Solutions
Investment Insights
Based on property information with market context.
This 16,000-square-foot storefront property presents a contemporary retail design with exposed wooden beams and a glass storefront. The scale and configuration support a substantial retail presence at the site.
Located at 900 N Tomahawk Island Dr in Portland, Oregon, the property benefits from visibility to I-5 and reported traffic counts exceeding 121,100 vehicles daily. Its position at the Oregon–Washington border places it within reach of residents from both states. Oregon’s lack of a sales tax is also identified as a site consideration for Washington shoppers.
Located at 900 N Tomahawk Island Dr in Portland, Oregon, the property benefits from visibility to I-5 and reported traffic counts exceeding 121,100 vehicles daily. Its position at the Oregon–Washington border places it within reach of residents from both states. Oregon’s lack of a sales tax is also identified as a site consideration for Washington shoppers.
Key Highlights
- 16,000 square feet of storefront retail space
- Visibility to I‑5
- Traffic counts exceeding 121,100 daily
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
$186,480
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
8.48%
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%
$3,729,600
$3.7M
Cap Rate 7%
$2,664,000
$2.7M
Cap Rate 9%
$2,072,000
$2.1M
Market Conditions
NOI Build-Up for 16,000 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
$288.0K $18.00/SF
− Vacancy
−$21.6K −$1.35/SF
EGI
$266.4K $16.65/SF
− OpEx
−$79.9K −$5.00/SF
NOI
$186.5K $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 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%
$3,729,600
Cap Rate 7%
$2,664,000
Cap Rate 9%
$2,072,000
Alternative Uses
Best Use
Retail
$2.66M
$2.33M – $3.11M
NOI $186,480 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,524 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Under-served
Demand for This Use
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?
Storefront property - Retail space features glass frontage, exposed wooden beams, and direct exposure to I-5 traffic.
Where is this storefront property located?
The property is located at 900 N Tomahawk Island Dr Portland, OR.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 16,000 square feet of storefront retail space; Visibility to I‑5; Traffic counts exceeding 121,100 daily
