Multi-Tenant Shopping
For Sale
$1,599,950
13511 SE DIVISION St, Portland, OR 97236
CommercialSale, Portland, OR
Property Size7,868 SF
Lot Size0.41 Acres
Price / SF$203.35
Days on Market268
Property Features for 13511 SE DIVISION St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM1
View
City
Directions
135th & SE Division
Subdivision
_143
Standard status
Active
APN
R283977
Size
7,868 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Description
TAYLOR'S SUB, S 165' OF W 128.5' OF LOT 17 EXC PT IN STS
Tax Annual Amount
16431
Legal Description
TAYLOR'S SUB, S 165' OF W 128.5' OF LOT 17 EXC PT IN STS
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1972
Floors in Building
1
Roof type
Flat
Listing Agency:
John L. Scott Sandy
(503) 826-9000
Listed By:
Jessie Jones
(971) 645-6067
Added: Dec 1, 2025
Changed: Aug 25
Last Checked: Aug 26 at 4:06AM
MLS# 699893362
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,868-square-foot shopping center contains four separately rentable commercial spaces, along with a garage, storage container, and patio area. Current occupancy includes grocery market, furniture retail, and video-deli uses. The building was constructed in 1972, with additional retail areas added in 2001 and 2015. Recent improvements include new interior and exterior paint, while the property is equipped with forced-air heating, central air, and a flat roof.
Located at the intersection of 135th and SE Division Street in Portland, the property occupies a 0.41-acre lot and carries CM1 zoning. Its configuration combines multiple commercial suites with auxiliary storage and outdoor space.
Located at the intersection of 135th and SE Division Street in Portland, the property occupies a 0.41-acre lot and carries CM1 zoning. Its configuration combines multiple commercial suites with auxiliary storage and outdoor space.
Key Highlights
- 7,868‑square‑foot commercial building on a 0.41‑acre lot
- Four separate rentable spaces with current grocery, furniture, and video‑deli uses
- CM1 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
$105,935
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
6.62%
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%
$2,118,700
$2.1M
Cap Rate 7%
$1,513,357
$1.5M
Cap Rate 9%
$1,177,056
$1.2M
Market Conditions
NOI Build-Up for 7,868 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
$151.1K $19.20/SF
− Vacancy
−$9.8K −$1.25/SF
EGI
$141.2K $17.95/SF
− OpEx
−$35.3K −$4.49/SF
NOI
$105.9K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /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%
$2,118,700
Cap Rate 7%
$1,513,357
Cap Rate 9%
$1,177,056
Alternative Uses
Best Use
Specialty Retail
$1.51M
$1.32M – $1.77M
NOI $105,935 @ 7.0% cap · market cap 6.62%
Second Best
Retail
$1.31M
$1.15M – $1.53M
NOI $91,702 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,667 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97236, OR
40,193
Population
13,736
Households
2.9
Avg Household Size
36
Median Age
21%
College-Educated
81%
High-School Grad
7.7 sq mi
ZIP Area
5,220
Density / Sq Mi
$68,582
Median Household Income
$38,131
Median Earnings
$1,436
Median Rent
$414,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Shopping center - Four occupied commercial spaces support a mix of grocery, furniture, and video-deli uses.
Where is this shopping center located?
The property is located at 13511 SE DIVISION St Portland, OR.
What is the asking price?
The asking price for this property is $1,599,950.
What are key features of this property?
This property features: 7,868‑square‑foot commercial building on a 0.41‑acre lot; Four separate rentable spaces with current grocery, furniture, and video‑deli uses; CM1 zoning
