Building Details

Building Size 16,865 SF

Year Built 1941

Year Renovated 2008

Tenancy Single

Listing Agency: Capacity Commercial Group

Listed By: Jim Wierson II · License #201217195 Show Phone

Source: Capacitycommercial

Added: Jun 25 Changed: Oct 15 Last Checked: Oct 20 at 7:27PM

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Investment Insights

Based on property information with market context.

Located at the gateway to the Columbia River Gorge, 201 W Historic Columbia River Hwy is a 16,865 SF single-tenant retail building on a 1.05-acre parcel with nearly 300 feet of street frontage. The property was built in 1941 and remodeled in 2008, and it is currently positioned for continued retail occupancy under MU-1 mixed-use zoning.

The site provides approximately 2.3 parking spaces per 1,000 SF and is minutes from I-84, about 12 miles east of Portland. This combination of frontage and highway proximity supports a high-visibility retail setting on a standalone parcel.

The available configuration is a single-tenant building, offering one consolidated retail footprint on the street-facing site.

Key Highlights

• 16,865 SF single‑tenant retail building on a 1.05‑acre parcel with nearly 300 ft of street frontage.
• Built in 1941 and remodeled in 2008.
• MU‑1 mixed‑use zoning.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$196,562

Cap Rate

8.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,931,240 $3.9M

Cap Rate 7%

$2,808,029 $2.8M

Cap Rate 9%

$2,184,022 $2.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,865 SF

Gross rent

$303.6K $18.00/SF

− Vacancy

−$22.8K −$1.35/SF

EGI

$280.8K $16.65/SF

− OpEx

−$84.2K −$5.00/SF

NOI

$196.6K $11.66/SF

Area

Multnomah County, OR

Vacancy

7.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,931,240

Cap Rate 7%

$2,808,029

Cap Rate 9%

$2,184,022

Alternative Uses

Best Use

Retail

$2.81M

$2.46M – $3.28M (±1% cap)

NOI $196,562 @ 7.0% cap · market cap 8.21%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.55M

$3.98M – $5.31M (±1% cap)

NOI $318,659 @ 7.0% cap · market cap 13.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Pharmacy Big Box & Wholesale Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

497

Businesses Nearby

187k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Apparel 56% Dining 30% Shops & Services 8% Beauty & Spa 4%

McDonald's Dining

29,526 visits/mo 0.5 miles

Starbucks Dining

21,747 visits/mo 0.2 miles

Coach Apparel

11,012 visits/mo 0.2 miles

Boot Barn Apparel

10,126 visits/mo 0.5 miles

Columbia Sportswear Apparel

8,340 visits/mo 0.1 miles

Demographics for 97060, OR

21,792

Population

7,823

Households

2.8

Avg Household Size

38

Median Age

26%

College-Educated

86%

High-School Grad

17.5 sq mi

ZIP Area

1,245

Density / Sq Mi

$84,164

Median Household Income

$42,162

Median Earnings

$1,560

Median Rent

$425,700

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Frequently Asked Questions

What type of property is this?

Retail space - Built in 1941 and remodeled in 2008, this retail property sits on 1.05 acres with nearly 300 feet of street frontage.

Where is this retail space located?

The property is located at 201 West Historic Columbia River Highway Troutdale, OR.

What is the asking price?

The asking price for this property is $2,395,000.

What are key features of this property?

This property features: 16,865 SF single‑tenant retail building on a 1.05‑acre parcel with nearly 300 ft of street frontage.; Built in 1941 and remodeled in 2008.; MU‑1 mixed‑use zoning.