Wellness Center with Treatment
For Sale
$1,895,000
1016 SE 12TH Ave, Portland, OR 97214
A practitioner-oriented facility combines private treatment suites with a dedicated yoga and event studio.
Property Size5,006 SF
Price / SF$378.55
Days on Market483
Property Features for 1016 SE 12TH Ave
General Information
Standard status
Active
Size
5,006 SF
Total Parking Spaces
38
Property subtype
General Commercial
Financials
Cap Rate
7%
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$12,524
Amenities
3
Flat, Shingle
CM2
Parking.
38 Parking Spaces. Off Street.
Handicapped Access, Office/Library, Sprinklers, Storage Area. Concrete Road.
Building Details
Year Built
1901
Tenancy
Multi
Listing Agency:
Keller Williams PDX Central
(503) 847-5903
Listed By:
Kaya Liden
(503) 847-5903
Source:
Xome
Added: May 7, 2025
Changed: Aug 30
Last Checked: Aug 31 at 3:25PM
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 Keller Williams PDX Central
Investment Insights
Based on property information with market context.
This 5006-square-foot wellness facility includes 13 private treatment suites and a 900-square-foot studio designed for yoga and events. Twelve suites are leased to long-term, licensed practitioners, supporting an established operating model with limited owner involvement. A professionally managed website is also in place to streamline daily administration.
The property is located in Portland’s SE Buckman neighborhood and includes a dedicated 38-space parking lot directly across from the building. Recent capital work includes exterior painting and a new deck completed in 2024, while the sewer line and roof were replaced within 10 years. Additional features include handicapped access, office or library space, storage, sprinklers, and CM2 zoning.
The property is located in Portland’s SE Buckman neighborhood and includes a dedicated 38-space parking lot directly across from the building. Recent capital work includes exterior painting and a new deck completed in 2024, while the sewer line and roof were replaced within 10 years. Additional features include handicapped access, office or library space, storage, sprinklers, and CM2 zoning.
Key Highlights
- 13 private treatment suites, with 12 leased to long‑term, licensed practitioners
- 900 SF yoga and event studio
- Dedicated 38‑space parking lot directly across from the 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
$64,801
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
3.42%
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%
$1,296,020
$1.3M
Cap Rate 7%
$925,729
$925.7K
Cap Rate 9%
$720,011
$720.0K
Market Conditions
NOI Build-Up for 5,006 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
$114.1K $22.80/SF
− Vacancy
−$27.7K −$5.54/SF
EGI
$86.4K $17.26/SF
− OpEx
−$21.6K −$4.31/SF
NOI
$64.8K $12.94/SF
Area
Portland, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,296,020
Cap Rate 7%
$925,729
Cap Rate 9%
$720,011
Alternative Uses
Best Use
Office B
$925.7K
$810.0K – $1.08M
NOI $64,801 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,407 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,684
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
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.
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - A practitioner-oriented facility combines private treatment suites with a dedicated yoga and event studio.
Where is this spa & wellness property located?
The property is located at 1016 SE 12TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 13 private treatment suites, with 12 leased to long‑term, licensed practitioners; 900 SF yoga and event studio; Dedicated 38‑space parking lot directly across from the property
