Upgraded Self Storage
For Sale
$2,400,000
5803 SE Johnson Creek Blvd, Portland, OR 97206
Single-story storage buildings with gated access, an on-site office, concrete floors, and a range of unit access configurations.
Property Size8,600 SF
Price / SF$279.07
Days on Market18
Property Features for 5803 SE Johnson Creek Blvd
General Information
Standard status
Active
Size
8,600 SF
Warehouse & Industrial
Office Build-Out
600 SF
Self-Storage Units
68
Additional Details
Fenced Yard
Yes
Amenities
office with mini-split heating and cooling
built-in cabinets
desks
countertops
kitchen sink
dishwasher
hot water tank
washer/dryer hookups
work stations
reception area
security camera system
alarm system
storage unit with cabinets and workbench
ADA parking
ADA bathroom with shower
rolling gate
ADA pedestrian gate
Building Details
Year Built
1988
Stories
1
Construction
wood-frame
Listing Agency:
Tree City Real Estate
(503) 757-1869
Listed By:
Lizbeth Abbott
Source:
Evergreenrealestatepartners
Added: Aug 11
Changed: Aug 28
Last Checked: Aug 28 at 12:45PM
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 Tree City Real Estate
Investment Insights
Based on property information with market context.
This 68-unit self-storage property includes single-story wood-frame buildings constructed in 1988, with concrete foundations, metal roofs, and concrete floors in the storage units. Larger spaces have overhead roll-up doors, while smaller units use pedestrian entrances. A 600 SF office was completed in January 2025 and includes mini-split HVAC, cabinetry, desks, countertops, a reception area, three work stations, a kitchen sink, garbage disposal, dishwasher, hot water tank, and washer/dryer hookups. Wired security camera and alarm systems are also installed.
Recent site work includes a TPO roof replacement on the northerly building and office addition, a concrete driveway and approach, ADA parking, a new rolling vehicle gate, and an ADA pedestrian gate. The office has an ADA full bathroom with shower. An adjacent 10' x 20' storage unit provides cabinets and workbench space for maintenance use. The property is fully fenced and gated at 5803 SE Johnson Creek Blvd in Southeast Portland.
Recent site work includes a TPO roof replacement on the northerly building and office addition, a concrete driveway and approach, ADA parking, a new rolling vehicle gate, and an ADA pedestrian gate. The office has an ADA full bathroom with shower. An adjacent 10' x 20' storage unit provides cabinets and workbench space for maintenance use. The property is fully fenced and gated at 5803 SE Johnson Creek Blvd in Southeast Portland.
Key Highlights
- 68‑unit self‑storage facility with 8,600 SF of property size
- 600 SF office completed in January 2025
- New TPO roof on the northerly building and office addition
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
$87,338
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
3.64%
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%
$1,746,760
$1.7M
Cap Rate 7%
$1,247,686
$1.2M
Cap Rate 9%
$970,422
$970.4K
Market Conditions
NOI Build-Up for 8,600 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
$134.2K $15.60/SF
− Vacancy
−$9.4K −$1.09/SF
EGI
$124.8K $14.51/SF
− OpEx
−$37.4K −$4.35/SF
NOI
$87.3K $10.16/SF
Area
ZIP 97206
Vacancy
7.00%
Lease Rate
$15.60 /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%
$1,746,760
Cap Rate 7%
$1,247,686
Cap Rate 9%
$970,422
Alternative Uses
Best Use
Self Storage
$1.25M
$1.09M – $1.46M
NOI $87,338 @ 7.0% cap · market cap 3.64%
Second Best
Warehouse
$994.9K
$870.5K – $1.16M
NOI $69,641 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$2.42M
$2.11M – $2.82M
NOI $169,056 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Single-story storage buildings with gated access, an on-site office, concrete floors, and a range of unit access configurations.
Where is this self storage facility located?
The property is located at 5803 SE Johnson Creek Blvd Portland, OR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 68‑unit self‑storage facility with 8,600 SF of property size; 600 SF office completed in January 2025; New TPO roof on the northerly building and office addition
