Manufacturing
New
For Sale
$850,000
Pending
5546 NE 109TH, Portland, OR 97220
Vacant manufacturing facility with documented mold concerns and a history of cabinet production.
Property Size7,680 SF
Days on Market7
Property Features for 5546 NE 109TH
General Information
Standard status
Pending
Size
7,680 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,781
Amenities
Ceiling Heating
Flat Roof
Off Street
Building Details
Year Built
1974
Listing Agency:
GOLD STAR PROPERTIES, LLC
(503) 307-2263
Listed By:
CHRIS WAGNER
Source:
Corcoran
Added: Aug 14
Changed: Aug 17
Last Checked: Aug 17 at 3:15AM
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 GOLD STAR PROPERTIES, LLC
Investment Insights
Based on property information with market context.
This 7,680-square-foot manufacturing building was constructed in 1974 and previously operated as a cabinet manufacturing business. The property has remained vacant for years, and black mold has been identified in the building.
Buyer due diligence should address utilities, permitting, fitness for intended use, and deferred maintenance. All showings require accompaniment by the listing broker. The property is located at 5546 NE 109TH in Portland, Oregon 97220.
Buyer due diligence should address utilities, permitting, fitness for intended use, and deferred maintenance. All showings require accompaniment by the listing broker. The property is located at 5546 NE 109TH in Portland, Oregon 97220.
Key Highlights
- 7,680‑square‑foot manufacturing building
- Constructed in 1974
- Previously used for cabinet manufacturing
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
$48,203
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
5.67%
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%
$964,060
$964.1K
Cap Rate 7%
$688,614
$688.6K
Cap Rate 9%
$535,589
$535.6K
Market Conditions
NOI Build-Up for 7,680 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
$73.7K $9.60/SF
− Vacancy
−$4.9K −$0.63/SF
EGI
$68.9K $8.97/SF
− OpEx
−$20.7K −$2.69/SF
NOI
$48.2K $6.28/SF
Area
Portland, OR
Vacancy
6.60%
Lease Rate
$9.60 /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%
$964,060
Cap Rate 7%
$688,614
Cap Rate 9%
$535,589
Alternative Uses
Best Use
Industrial
$688.6K
$602.5K – $803.4K
NOI $48,203 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $150,971 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Vacant manufacturing facility with documented mold concerns and a history of cabinet production.
Where is this manufacturing property located?
The property is located at 5546 NE 109TH Portland, OR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 7,680‑square‑foot manufacturing building; Constructed in 1974; Previously used for cabinet manufacturing
