Warehouse with Secure
New
For Sale
$7,800,000
5411 N Lagoon Ave, Portland, OR 97217
The property combines a large warehouse facility with a secured outdoor area for truck and equipment storage.
Property Size46,995 SF
Lot Size3.50 Acres
Price / SF$165.98
Days on Market5
Property Features for 5411 N Lagoon Ave
General Information
Standard status
Active
Size
46,995 SF
Lot size
3.50 Acres
Property subtype
Industrial
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Building Details
Building Size
46,995 SF
Listing Agency:
(503) 708-9710
Listed By:
John Fettig, SIOR
(503) 708-9710
Source:
Corfac
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 18 at 4:41AM
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 John Fettig, SIOR
Investment Insights
Based on property information with market context.
This warehouse property comprises approximately 46,995 square feet on about 3.5 acres. The site includes a secured yard configured for truck and equipment storage, along with a drive-through-capable layout that supports vehicle movement through the facility. The property is currently used by Daimler Trucks N.A.
Access is provided from both N. Lagoon Ave and N. Channel Ave, with multiple points of ingress and egress. Located at 5411 N Lagoon Ave in Portland, Oregon, the property offers a substantial building and outdoor operating area for warehouse and fleet-related functions.
Access is provided from both N. Lagoon Ave and N. Channel Ave, with multiple points of ingress and egress. Located at 5411 N Lagoon Ave in Portland, Oregon, the property offers a substantial building and outdoor operating area for warehouse and fleet-related functions.
Key Highlights
- Approximately 46,995 SF warehouse on ± 3.5 acres
- Secure yard configured for truck and equipment storage
- Drive‑through‑capable facility layout
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
$358,170
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
4.59%
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%
$7,163,400
$7.2M
Cap Rate 7%
$5,116,714
$5.1M
Cap Rate 9%
$3,979,667
$4.0M
Market Conditions
NOI Build-Up for 46,995 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
$451.2K $9.60/SF
− Vacancy
−$29.8K −$0.63/SF
EGI
$421.4K $8.97/SF
− OpEx
−$63.2K −$1.34/SF
NOI
$358.2K $7.62/SF
Area
Portland, OR
Vacancy
6.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$7,163,400
Cap Rate 7%
$5,116,714
Cap Rate 9%
$3,979,667
Alternative Uses
Best Use
Warehouse
$5.12M
$4.48M – $5.97M
NOI $358,170 @ 7.0% cap · market cap 4.59%
Second Best
Industrial
$4.21M
$3.69M – $4.92M
NOI $294,963 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$13.20M
$11.55M – $15.40M
NOI $923,815 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Similar Off Market Nearby
- Rose City Moving & Storage — 5130 N Basin Ave, Portland, OR 97217
- Kent Moving Systems — 6650 N Basin Ave # M, Portland, OR 97217
Frequently Asked Questions
What type of property is this?
Warehouse - The property combines a large warehouse facility with a secured outdoor area for truck and equipment storage.
Where is this warehouse located?
The property is located at 5411 N Lagoon Ave Portland, OR.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: Approximately 46,995 SF warehouse on ± 3.5 acres; Secure yard configured for truck and equipment storage; Drive‑through‑capable facility layout
