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
Price / SF$405.09
Days on Market8
Property Features for 5401 NE Cully Blvd
General Information
Standard status
Active
Size
864 SF
Building Details
Year Built
1973
Listing Agency:
Keller Williams PDX Central
(503) 548-4848
Listed By:
Kaya Liden
Source:
Thesanchezteamoregon
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 30 at 7:51PM
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 = 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
$10,070
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
2.88%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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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
