Portland Investment Property Near
1909 SW 6TH Portland, OR 97201
1909 SW 6TH, Portland, OR, 97201
$2,990,000
For Sale
$2,990,000
Income property with high visibility near Portland State University.
Property Size6,498 SF
Price / SF$460.14
Days on Market665
Property Features for 1909 SW 6TH
General Information
- Standard status
- Active
- Size
- 6,498 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1953
Listing agency
COLDWELL BANKER BAIN
(541) 382-4123
Listed by
BRENT BARKER · License #201232075
Source
Corcoran
Added: Sep 25, 2024 Updated: Jul 10 at 3:47PM Checked: Jul 21 at 5:25AM
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 COLDWELL BANKER BAIN
Investment Insights
Based on property information with market context.
This investment property, suitable for income generation or redevelopment, features over 200 feet of frontage and high visibility in the heart of Portland State University area, surrounded by national brands. The property is located on the NE corner of SW Hall St and SW 6th Ave. Portland State University has over 28,000 students, 6,000 professors, managers, and administrative staff. The 6,498 square foot building includes valuable on-site management parking. The property is zoned CX - Central Commercial in an Opportunity Zone. Currently, the property houses three NNN leased units: a restaurant, a boutique coffee shop, and a print shop, all catering to the university population. Potential lease space may become available in one of the highest walking traffic pedestrian zones in the state. This family-owned commercial investment property has been under the same ownership since 1953. It benefits from pedestrian traffic to and from the various colleges, University Center, and a multi-level student parking garage across the street. It is an excellent opportunity for a 1031 Exchange for income.
Key Highlights
- Prime location in the heart of PSU with high visibility and traffic
- Three NNN leased units providing immediate income
- Over 200 feet of frontage
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.8k | $19.20 |
| − Vacancy | −$8.1k | −$1.25 |
| EGI | $116.7k | $17.95 |
| − OpEx | −$29.2k | −$4.49 |
| NOI | $87.5k | $13.46 |
6,498 SF · lease $19.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.09M – $1.46M
NOI $87,489 @ 7.0% cap · market cap 2.93%
Second Best
Retail
$1.08M
$946.7K – $1.26M
NOI $75,734 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$1.82M
$1.60M – $2.13M
NOI $127,736 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Wild Rose Coffee
Cafe & Coffee Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Pacific Northwest Florist Association — 1219 SW 19th Ave, Portland, OR 97205
- Gifford's Flowers — 704 SW Jefferson St, Portland, OR 97201
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- Flower Temple Designs — 111 SW Columbia St # 3, Portland, OR 97201
- 19th Field Botanics — Portland, OR 97201, United States
FAQs
What type of property is this?
Storefront property - Income property with high visibility near Portland State University.
Where is this storefront property located?
The property is located at 1909 SW 6TH Portland, OR.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: Prime location in the heart of PSU with high visibility and traffic; Three NNN leased units providing immediate income; Over 200 feet of frontage
