Salon and Wellness
For Sale
$550,000
323 W POWELL, Gresham, OR 97030
Existing salon configuration includes service areas, private rooms, and kitchen support space.
Property Size1,446 SF
Price / SF$380.36
Days on Market54
Property Features for 323 W POWELL
General Information
Standard status
Active
Size
1,446 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,677
Amenities
five hair stations
manicure and pedicure areas
two private rooms
two restrooms
kitchen/break room
fenced yard
Central air
Central Air Cooling
Composition Roof
Forced Air Heating
Building Details
Year Built
1908
Listing Agency:
OREGON FIRST
(503) 667-5686
Listed By:
MABLE BARTLETT · License #201223538
Source:
Corcoran
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 30 at 5:34PM
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 ADA-compliant commercial property at 323 W Powell in Gresham includes an existing salon layout with five hair stations, manicure and pedicure areas, two private rooms, and two restrooms. A kitchen and break room add practical staff-support space, while on-site parking serves the building and a fenced yard provides additional outdoor area.
Built in 1908, the property carries commercial zoning and is currently operating as a salon. The existing configuration can support salon and spa operations, wellness services, retail, or professional and medical office uses, subject to buyer verification of permitted uses. The combination of personal-service areas, private rooms, plumbing fixtures, and support spaces provides a defined starting point for an owner-user or operator.
Built in 1908, the property carries commercial zoning and is currently operating as a salon. The existing configuration can support salon and spa operations, wellness services, retail, or professional and medical office uses, subject to buyer verification of permitted uses. The combination of personal-service areas, private rooms, plumbing fixtures, and support spaces provides a defined starting point for an owner-user or operator.
Key Highlights
- Five hair stations with manicure and pedicure areas
- Two private rooms and two restrooms
- ADA‑compliant commercial building
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
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.
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- Claire J. Kirkendall, LAC — 123 Powell Blvd, Gresham, OR 97030
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Existing salon configuration includes service areas, private rooms, and kitchen support space.
Where is this spa & wellness property located?
The property is located at 323 W POWELL 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: Five hair stations with manicure and pedicure areas; Two private rooms and two restrooms; ADA‑compliant commercial building
