Storefront Property with Salon
For Sale
$350,000
5401 NE CULLY BLVD, Portland, OR 97218
Established commercial storefront with reception, workstation, and ancillary-area configuration for continued or adapted service use.
Property Size864 SF
Days on Market267
Property Features for 5401 NE CULLY BLVD
General Information
Standard status
Active
Size
864 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,290
Building Details
Building Size
864 SF
Year Built
1973
Listing Agency:
Keller Williams PDX Central
Listed By:
Kaya Liden
(503) 847-5903
Source:
Eleeterealestate
Added: Jan 21
Changed: Oct 11
Last Checked: Oct 15 at 6:17AM
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 1973-built storefront property includes an existing salon-oriented arrangement with space for multiple workstations, reception, and supporting areas. The sale covers the real estate only; the operating hair salon business is excluded. The configuration may accommodate continued salon use or other permitted commercial and service applications, subject to zoning review and required approvals.
Positioned along NE Cully Blvd in Portland, the property offers street exposure and signage potential within a corridor serving surrounding residential and commercial activity. Access to nearby arterial roads supports customer and employee arrival, while on-site and nearby parking options contribute to convenience. The property has hosted salon operations for more than 30 years and may suit an owner-user or investor evaluating continued operation or repositioning.
Positioned along NE Cully Blvd in Portland, the property offers street exposure and signage potential within a corridor serving surrounding residential and commercial activity. Access to nearby arterial roads supports customer and employee arrival, while on-site and nearby parking options contribute to convenience. The property has hosted salon operations for more than 30 years and may suit an owner-user or investor evaluating continued operation or repositioning.
Key Highlights
- 864 property size with an established commercial storefront configuration
- 1973 construction year
- Existing arrangement includes multiple workstations, reception, and ancillary areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,070
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,400
$201.4K
Cap Rate 7%
$143,857
$143.9K
Cap Rate 9%
$111,889
$111.9K
Market Conditions
NOI Build-Up for 864 SF
Gross rent
$15.6K $18.00/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$14.4K $16.65/SF
− OpEx
−$4.3K −$5.00/SF
NOI
$10.1K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,400
Cap Rate 7%
$143,857
Cap Rate 9%
$111,889
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
492
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Portland, OR
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Frequently Asked Questions
What type of property is this?
Storefront property - Established commercial storefront with reception, workstation, and ancillary-area configuration for continued or adapted service use.
Where is this storefront property located?
The property is located at 5401 NE CULLY BLVD 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: 864 property size with an established commercial storefront configuration; 1973 construction year; Existing arrangement includes multiple workstations, reception, and ancillary areas
