Established Commercial Property on
5401 NE CULLY Portland, OR 97218
5401 NE CULLY, Portland, OR, 97218
$350,000
For Sale
$350,000
Well-located commercial property with long-term operational history and future flexibility.
Property Size864 SF
Lot Size0.08 Acres
Price / SF$405.09
Days on Market181
Property Features for 5401 NE CULLY
General Information
- Standard status
- Active
- Size
- 864 SF
- Lot size
- 0.08 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1973
Listing agency
KELLER WILLIAMS PDX CENTRAL
(503) 548-4848
Listed by
KAYA LIDEN
Source
Corcoran
Added: Jan 21 Updated: Jul 6 at 9:55AM Checked: Jul 21 at 6:00AM
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 KELLER WILLIAMS PDX CENTRAL
Investment Insights
Based on property information with market context.
This commercial property is located along NE Cully Blvd in Portland. The space has been operated as a hair salon for over 30 years. The offering is for the real estate only. The existing layout includes a functional and efficient configuration that can support multiple workstations, reception, and ancillary areas, with flexibility for continued salon use or adaptation for other permitted commercial or service-oriented uses. The property benefits from strong street visibility and signage potential along NE Cully Blvd, with convenient access to nearby arterial roads and surrounding residential and commercial activity. The location supports both local and destination traffic, contributing to sustained business use. On-site and nearby parking options further enhance accessibility for customers and employees. The property size is 864 square feet. This asset is well suited for owner-users or investors seeking a commercial property with a long-standing operational history and future flexibility. The property offers potential for continued use, repositioning, or value enhancement, subject to buyer due diligence, zoning verification, and applicable municipal approvals.
Key Highlights
- High‑visibility location on NE Cully Blvd with strong signage potential.
- Long‑established commercial property with a 30+ year operational history.
- Functional layout suitable for continued salon use or adaptation to other commercial purposes.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.6k | $18.00 |
| − Vacancy | −$1.2k | −$1.35 |
| EGI | $14.4k | $16.65 |
| − OpEx | −$4.3k | −$5.00 |
| NOI | $10.1k | $11.66 |
864 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$143.9K
$125.9K – $167.8K
NOI $10,070 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.6K
$212.3K – $283.1K
NOI $16,984 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Tondalayera Designers Salon
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Well-located commercial property with long-term operational history and future flexibility.
Where is this retail space located?
The property is located at 5401 NE CULLY Portland, OR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: High‑visibility location on NE Cully Blvd with strong signage potential.; Long‑established commercial property with a 30+ year operational history.; Functional layout suitable for continued salon use or adaptation to other commercial purposes.
