Spa & Wellness Property with Salon
For Sale
$550,000
323 W Powell Blvd, Gresham, OR 97030
ADA-compliant commercial space includes on-site parking, private rooms, personal-service areas, and a fenced outdoor yard.
Property Size1,446 SF
Price / SF$380.36
Days on Market8
Property Features for 323 W Powell Blvd
General Information
Standard status
Active
Size
1,446 SF
Amenities
on-site parking
fenced yard
Building Details
Year Built
1908
Buildings
1
Listing Agency:
Oregon First
(971) 212-1844
Listed By:
Mable Bartlett · License #201223538
Source:
Wisser
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 29 at 11:41AM
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 Oregon First
Investment Insights
Based on property information with market context.
This 1,446-square-foot commercial building, constructed in 1908, is configured for spa and wellness operations. The current salon layout includes five hair stations, manicure and pedicure areas, two private rooms, two restrooms, and a kitchen/break room. ADA-compliant features and on-site parking support day-to-day operations.
Located at 323 W Powell Blvd in Gresham, Oregon, the property has commercial zoning and a fenced yard that adds outdoor space. The existing configuration may accommodate salon, spa, wellness, medical, professional office, or retail uses, subject to buyer verification of permitted uses.
Located at 323 W Powell Blvd in Gresham, Oregon, the property has commercial zoning and a fenced yard that adds outdoor space. The existing configuration may accommodate salon, spa, wellness, medical, professional office, or retail uses, subject to buyer verification of permitted uses.
Key Highlights
- 1,446‑square‑foot commercial building at 323 W Powell Blvd, Gresham, OR 97030
- Salon layout with five hair stations, manicure and pedicure areas, and two private rooms
- Two restrooms plus a kitchen/break room
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
$16,006
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
2.91%
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%
$320,120
$320.1K
Cap Rate 7%
$228,657
$228.7K
Cap Rate 9%
$177,844
$177.8K
Market Conditions
NOI Build-Up for 1,446 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
$24.6K $17.04/SF
− Vacancy
−$1.8K −$1.23/SF
EGI
$22.9K $15.81/SF
− OpEx
−$6.9K −$4.74/SF
NOI
$16.0K $11.07/SF
Area
Gresham, OR
Vacancy
7.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$320,120
Cap Rate 7%
$228,657
Cap Rate 9%
$177,844
Alternative Uses
Best Use
Retail
$228.7K
$200.1K – $266.8K
NOI $16,006 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$330.4K
$289.1K – $385.5K
NOI $23,130 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Valvoline Instant Oil Change
Shops & Services
1,804 visits/mo
0.4 miles
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mendez Joseph A — 138 NE 3rd St, Gresham, OR 97030
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- Katelyn Decker — 130 NW Miller Ave, Gresham, OR 970307226
- Arianne Sierra Keller — 109 N Main Ave #201, Gresham, OR 97030
- Claire J. Kirkendall, LAC — 123 Powell Blvd, Gresham, OR 97030
Frequently Asked Questions
What type of property is this?
Spa & wellness property - ADA-compliant commercial space includes on-site parking, private rooms, personal-service areas, and a fenced outdoor yard.
Where is this spa & wellness property located?
The property is located at 323 W Powell Blvd Gresham, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,446‑square‑foot commercial building at 323 W Powell Blvd, Gresham, OR 97030; Salon layout with five hair stations, manicure and pedicure areas, and two private rooms; Two restrooms plus a kitchen/break room
