Two-Building Neighborhood
For Sale
$2,100,000
4339 4337 NE Killingsworth Street, Portland, OR 97218
Income-producing storefront property with two separate buildings on individual tax lots, supported by long-term tenants in Portland’s Cully area.
Property Size6,520 SF
Price / SF$322.09
Days on Market267
Property Features for 4339 4337 NE Killingsworth Street
General Information
Standard status
Active
Size
6,520 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1971
Listing Agency:
Modern Realty
Listed By:
David Brownlee
(877) 319-7625
Source:
Century21northhomes
Added: Dec 15, 2025
Changed: Sep 7
Last Checked: Sep 7 at 11:02AM
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 Modern Realty
Investment Insights
Based on property information with market context.
Located in the Cully Neighborhood of Portland, this income-producing retail property includes two separate buildings on individual tax lots. The asset is currently operated with long-standing tenants, contributing to stability for an owner seeking dependable occupancy.
The buildings are positioned near a newly completed 84-unit PCC housing development next door, which adds to the area’s residential presence.
This offering is structured as a two-building storefront investment and provides a straightforward acquisition for investors interested in long-term tenancy within a neighborhood retail setting.
The buildings are positioned near a newly completed 84-unit PCC housing development next door, which adds to the area’s residential presence.
This offering is structured as a two-building storefront investment and provides a straightforward acquisition for investors interested in long-term tenancy within a neighborhood retail setting.
Key Highlights
- Year built 1971 commercial property in Portland’s Cully neighborhood.
- Two separate buildings on individual tax lots.
- Income‑producing storefront property supported by long‑term tenants.
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
$87,785
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
4.18%
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%
$1,755,700
$1.8M
Cap Rate 7%
$1,254,071
$1.3M
Cap Rate 9%
$975,389
$975.4K
Market Conditions
NOI Build-Up for 6,520 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
$125.2K $19.20/SF
− Vacancy
−$8.1K −$1.25/SF
EGI
$117.0K $17.95/SF
− OpEx
−$29.3K −$4.49/SF
NOI
$87.8K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,755,700
Cap Rate 7%
$1,254,071
Cap Rate 9%
$975,389
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,785 @ 7.0% cap · market cap 4.18%
Second Best
Retail
$1.09M
$949.9K – $1.27M
NOI $75,991 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,168 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
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?
Grocery and convenience store - Income-producing storefront property with two separate buildings on individual tax lots, supported by long-term tenants in Portland’s Cully area.
Where is this grocery and convenience store located?
The property is located at 4339 4337 NE Killingsworth Street Portland, OR.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Year built 1971 commercial property in Portland’s Cully neighborhood.; Two separate buildings on individual tax lots.; Income‑producing storefront property supported by long‑term tenants.
