Equipped Coffee Shop in Shopping
For Sale
$280,000
18365 NW WEST UNION Rd, Portland, OR 97229
CommercialSale, Portland, OR
Property Size1,152 SF
Lot Size1.12 Acres
Price / SF$243.06
Days on Market232
Property Features for 18365 NW WEST UNION Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
NW West Union Road & 185th Ave
Subdivision
_150
Standard status
Active
APN
R2099448
Size
1,152 SF
Lot size
1.12 Acres
Taxes and HOA fees
Tax Description
WEST UNION VILLAGE, LOT 3-4, ACRES 1.12
Tax Annual Amount
42851
Legal Description
WEST UNION VILLAGE, LOT 3-4, ACRES 1.12
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2001
Roof type
Built-Up, Flat
Listing Agency:
Oregon First
(503) 667-5686
Listed By:
Amy Liu · License #201239122
(503) 317-3522
Added: Jan 6
Changed: Aug 25
Last Checked: Aug 26 at 4:06AM
MLS# 446037480
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 coffee shop occupies 1,152 square feet within West Union Village Shopping Center and includes 15 dine-in seats. The operating concept features boba tea drinks and food, with an established takeout component. The sale includes the business and equipment, and seller training is available after closing.
Kitchen improvements include an 8-foot Type 1 hood, walk-in cooler, freezer, and commercial dishwasher. The space is served by forced-air heating and central air conditioning. Shopping center parking is available for customers. Showings are by appointment only, and the business should not be disturbed during operations.
Kitchen improvements include an 8-foot Type 1 hood, walk-in cooler, freezer, and commercial dishwasher. The space is served by forced-air heating and central air conditioning. Shopping center parking is available for customers. Showings are by appointment only, and the business should not be disturbed during operations.
Key Highlights
- 1,152‑square‑foot coffee shop in West Union Village Shopping Center
- 15 dine‑in seats with established takeout business
- Sale includes the operating business and equipment
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
$18,517
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
6.61%
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%
$370,340
$370.3K
Cap Rate 7%
$264,529
$264.5K
Cap Rate 9%
$205,744
$205.7K
Market Conditions
NOI Build-Up for 1,152 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
$26.3K $22.80/SF
− Vacancy
−$1.6K −$1.37/SF
EGI
$24.7K $21.43/SF
− OpEx
−$6.2K −$5.36/SF
NOI
$18.5K $16.07/SF
Area
ZIP 97229
Vacancy
6.00%
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%
$370,340
Cap Rate 7%
$264,529
Cap Rate 9%
$205,744
Alternative Uses
Best Use
Specialty Retail
$264.5K
$231.5K – $308.6K
NOI $18,517 @ 7.0% cap · market cap 6.61%
Second Best
Retail
$230.2K
$201.4K – $268.5K
NOI $16,112 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$311.0K
$272.1K – $362.8K
NOI $21,767 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97229, OR
73,602
Population
28,312
Households
2.6
Avg Household Size
38
Median Age
69%
College-Educated
98%
High-School Grad
19.7 sq mi
ZIP Area
3,736
Density / Sq Mi
$159,863
Median Household Income
$83,904
Median Earnings
$1,948
Median Rent
$728,800
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.
Similar Off Market Nearby
- Starbucks — 18425 NW West Union Rd, Portland, OR 97229
- T4.Tea For — 18365 NW West Union Rd, Portland, OR 97229
- Starbucks — 18215 NW West Union Rd, Portland, OR 97229
Frequently Asked Questions
What type of property is this?
Coffee shop - Boba tea and food concept with dine-in seating, takeout operations, and a fully outfitted commercial kitchen.
Where is this coffee shop located?
The property is located at 18365 NW WEST UNION Rd Portland, OR.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,152‑square‑foot coffee shop in West Union Village Shopping Center; 15 dine‑in seats with established takeout business; Sale includes the operating business and equipment
