Neighborhood Retail
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3828 SE Powell Blvd, Portland, OR 97202
Established retail center positioned where SE Powell Boulevard meets Caesar Chavez Boulevard.
Property Size19,524 SF
Price / SF$332.87
Days on Market134
Property Features for 3828 SE Powell Blvd
General Information
Standard status
Active
Size
19,524 SF
Property subtype
Retail
Building Details
Buildings
1
Stories
1
Listing Agency:
HSM Pacific Retail Solutions
(503) 245-1400
Listed By:
Doug Magnusen · License #OR
Source:
Crexi
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 29 at 5:15PM
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 HSM Pacific Retail Solutions
Investment Insights
Based on property information with market context.
This 19,524-square-foot shopping center is configured for neighborhood-oriented retail and service uses. The property is identified as a retail center serving everyday goods and services.
The center occupies the intersection of SE Powell Boulevard and Caesar Chavez Boulevard in Portland, Oregon, with the address 3828 SE Powell Blvd, Portland, OR 97202.
The center occupies the intersection of SE Powell Boulevard and Caesar Chavez Boulevard in Portland, Oregon, with the address 3828 SE Powell Blvd, Portland, OR 97202.
Key Highlights
- 19,524‑square‑foot shopping center
- Neighborhood‑oriented goods and services retail format
- At the intersection of SE Powell Boulevard and Caesar Chavez Boulevard
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
$273,063
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
4.20%
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%
$5,461,260
$5.5M
Cap Rate 7%
$3,900,900
$3.9M
Cap Rate 9%
$3,034,033
$3.0M
Market Conditions
NOI Build-Up for 19,524 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
$421.7K $21.60/SF
− Vacancy
−$31.6K −$1.62/SF
EGI
$390.1K $19.98/SF
− OpEx
−$117.0K −$5.99/SF
NOI
$273.1K $13.99/SF
Area
ZIP 97202
Vacancy
7.50%
Lease Rate
$21.60 /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%
$5,461,260
Cap Rate 7%
$3,900,900
Cap Rate 9%
$3,034,033
Alternative Uses
Best Use
Retail
$3.90M
$3.41M – $4.55M
NOI $273,063 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.66M
$4.08M – $5.43M
NOI $326,050 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Established retail center positioned where SE Powell Boulevard meets Caesar Chavez Boulevard.
Where is this shopping center located?
The property is located at 3828 SE Powell Blvd Portland, OR.
What is the asking price?
The asking price for this property is $6,499,000.
What are key features of this property?
This property features: 19,524‑square‑foot shopping center; Neighborhood‑oriented goods and services retail format; At the intersection of SE Powell Boulevard and Caesar Chavez Boulevard
