Retail Space with Salon
For Sale
$350,000
5401 NE CULLY Blvd, Portland, OR 97218
CommercialSale, Portland, OR
Property Size864 SF
Lot Size0.08 Acres
Price / SF$405.09
Days on Market262
Property Features for 5401 NE CULLY Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM2
Directions
Killingsworth/Cully
Subdivision
_142
Standard status
Active
APN
R318217
Size
864 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SECTION 20 1N 2E, TL 200 0.08 ACRES
Tax Annual Amount
3291
Legal Description
SECTION 20 1N 2E, TL 200 0.08 ACRES
Utilities
Heating system
Forced Air
Building Details
Year built
1973
Floors in Building
1
Building materials
Brick
Roof type
Flat
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Kaya Liden
(503) 847-5903
Added: Jan 21
Changed: Oct 10
Last Checked: Oct 10 at 12:06PM
MLS# 173956925
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 864-square-foot retail property was built in 1973 and features a layout organized around multiple workstations, reception, and supporting areas. The space has been used as a hair salon for more than 30 years, while the sale includes the real estate only and excludes the operating business. Brick construction, forced-air heating, and a flat roof are among the existing building features. The configuration may support continued salon use or other permitted commercial and service uses, subject to zoning verification and applicable approvals.
Located at 5401 NE CULLY Blvd in Portland, the property offers exposure along NE CULLY Blvd with access to nearby arterial roads and surrounding residential and commercial activity. On-site and nearby parking options support customer and employee access. The parcel measures 0.08 acres and is identified as CM2 zoning.
Located at 5401 NE CULLY Blvd in Portland, the property offers exposure along NE CULLY Blvd with access to nearby arterial roads and surrounding residential and commercial activity. On-site and nearby parking options support customer and employee access. The parcel measures 0.08 acres and is identified as CM2 zoning.
Key Highlights
- 864 SF retail property on a 0.08‑acre parcel
- Existing layout includes multiple workstations, reception, and ancillary areas
- Used as a hair salon for more than 30 years; business is excluded from the sale
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.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
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
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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?
Retail space - CM2-zoned commercial space with reception, multiple workstation areas, and flexibility for continued service-oriented use.
Where is this retail space 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 SF retail property on a 0.08‑acre parcel; Existing layout includes multiple workstations, reception, and ancillary areas; Used as a hair salon for more than 30 years; business is excluded from the sale
