Spa & Wellness Property with Private
For Sale
$550,000
323 W POWELL Blvd, Gresham, OR 97030
CommercialSale, Gresham, OR
Property Size1,446 SF
Lot Size0.28 Acres
Price / SF$380.36
Days on Market50
Property Features for 323 W POWELL Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CUC
Directions
Powell between Eastman parkway and Main
Subdivision
_144
Standard status
Active
APN
R338655
Size
1,446 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
SECTION 09 1S 3E, TL 2300 0.28 ACRES
Tax Annual Amount
3677
Legal Description
SECTION 09 1S 3E, TL 2300 0.28 ACRES
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
on-site parking
fenced yard
five hair stations
manicure and pedicure areas
two private rooms
two restrooms
kitchen/break room
Building Details
Year built
1908
Roof type
Composition
Listing Agency:
Oregon First
(503) 667-5686
Listed By:
Mable Bartlett · License #201223538
(971) 212-1844
Added: Jul 8
Last Checked: Aug 26 at 1:06AM
MLS# 555079662
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 1,446-square-foot commercial property is currently configured for salon operations, with five hair stations, manicure and pedicure areas, two private rooms, two restrooms, and a kitchen/break room. The ADA-compliant building includes forced-air heating, central air, and a composition roof. Built in 1908, it offers a practical existing setup for spa and wellness operations or a range of other commercial applications supported by the CUC zoning, subject to verification of permitted uses.
The 0.28-acre site includes on-site parking and a fenced yard that adds usable exterior space. The property is located on W Powell Blvd in Gresham, Oregon, within the 97030 postal area. Its current salon layout and adaptable interior provide an established commercial framework for continued use or reconfiguration.
The 0.28-acre site includes on-site parking and a fenced yard that adds usable exterior space. The property is located on W Powell Blvd in Gresham, Oregon, within the 97030 postal area. Its current salon layout and adaptable interior provide an established commercial framework for continued use or reconfiguration.
Key Highlights
- 1,446‑square‑foot commercial building on a 0.28‑acre site
- Current salon layout includes five hair stations and manicure and pedicure areas
- Two private rooms, two restrooms, and 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
1,552
Businesses Nearby
124k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Apparel 36%
Ross Dress for Less
Apparel
43,687 visits/mo
0.1 miles
Dollar Tree
Shops & Services
24,622 visits/mo
0.2 miles
PetSmart
Shops & Services
20,554 visits/mo
0.2 miles
Plaid Pantry
Shops & Services
8,676 visits/mo
0.3 miles
Chevron
Shops & Services
8,104 visits/mo
0.1 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
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- 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 building with salon improvements, customer parking, fenced outdoor space, and flexible interior functionality.
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 on a 0.28‑acre site; Current salon layout includes five hair stations and manicure and pedicure areas; Two private rooms, two restrooms, and a kitchen/break room
