Portland Investment Property Near
For Sale
$2,400,000
1909 SW 6th Ave, Portland, OR 97201
Income property with high visibility near Portland State University.
Property Size6,498 SF
Price / SF$369.34
Days on Market231
Property Features for 1909 SW 6th Ave
General Information
Standard status
Active
Size
6,498 SF
Building Details
Year Built
1953
Listing Agency:
Coldwell Banker Bain
Listed By:
Brent Barker · License #201232075
(602) 697-7769
Source:
Christiesrealestateevg
Added: Mar 5
Changed: Oct 15
Last Checked: Oct 7 at 4:07PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,489
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,749,780
$1.7M
Cap Rate 7%
$1,249,843
$1.2M
Cap Rate 9%
$972,100
$972.1K
Market Conditions
NOI Build-Up for 6,498 SF
Gross rent
$124.8K $19.20/SF
− Vacancy
−$8.1K −$1.25/SF
EGI
$116.7K $17.95/SF
− OpEx
−$29.2K −$4.49/SF
NOI
$87.5K $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 Rate 5%
$1,749,780
Cap Rate 7%
$1,249,843
Cap Rate 9%
$972,100
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.09M – $1.46M
NOI $87,489 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$1.08M
$946.7K – $1.26M
NOI $75,734 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$1.82M
$1.60M – $2.13M
NOI $127,736 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,758
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 97201, OR
17,352
Population
10,748
Households
1.6
Avg Household Size
34
Median Age
67%
College-Educated
95%
High-School Grad
1.9 sq mi
ZIP Area
9,133
Density / Sq Mi
$67,074
Median Household Income
$48,101
Median Earnings
$1,565
Median Rent
$648,400
Median Home Value
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Market
Vacancy Rate% for Retail in Portland, OR
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Frequently Asked Questions
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 Ave Portland, OR.
What is the asking price?
The asking price for this property is $2,400,000.
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
