Listing Agency: Keller Williams PDX Central · Keller Williams Realty a***@kw.com Show Phone

Listed By: Jarrin Benson Show Phone

Added: Aug 20 Last Checked: Oct 7 at 9:06PM

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MLS# 206212997

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Investment Insights

Based on property information with market context.

This CM2-zoned storefront property includes a flexible main level with a kitchen area, half bathroom, and expansive open room. The upper floor contains two separate office or studio rooms, while the basement provides raw, unfinished space. The property was most recently used as a hair salon.

The building offers 839 SQFT on the main floor, 416 SQFT upstairs, and an 830 SQFT basement. Off-street parking accommodates 3-4 cars. The existing configuration supports a combination of open workspace, smaller private rooms, service areas, and additional unfinished storage or work area.

Key Highlights

• CM2 zoning
• 839 SQFT main floor with kitchen area, half bath, and open space
• 416 SQFT upstairs with 2 separate office/studio rooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,301

Cap Rate

5.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$486,020 $486.0K

Cap Rate 7%

$347,157 $347.2K

Cap Rate 9%

$270,011 $270.0K

Market Conditions

NOI Build-Up for 2,085 SF

Gross rent

$37.5K $18.00/SF

− Vacancy

−$2.8K −$1.35/SF

EGI

$34.7K $16.65/SF

− OpEx

−$10.4K −$5.00/SF

NOI

$24.3K $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%

$486,020

Cap Rate 7%

$347,157

Cap Rate 9%

$270,011

Alternative Uses

Best Use

Retail

$347.2K

$303.8K – $405.0K (±1% cap)

NOI $24,301 @ 7.0% cap · market cap 5.79%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$585.5K

$512.3K – $683.1K (±1% cap)

NOI $40,986 @ 7.0% cap · market cap 9.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Heart Fire Healing- ... Alternative Medicine Practice

Suggested Use

Top Pick Law Firm Parking Lot & Garage (Bike/Boat/Book/etc) Store Nail Salon Computer & Electronic Repair Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Location Intelligence

Trade Area within ½ mile

1,054

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 97215, OR

18,221

Population

7,855

Households

2.3

Avg Household Size

40

Median Age

64%

College-Educated

97%

High-School Grad

2.3 sq mi

ZIP Area

7,922

Density / Sq Mi

$114,361

Median Household Income

$62,704

Median Earnings

$1,587

Median Rent

$658,500

Median Home Value

Market

Vacancy Rate% for Retail in Portland, OR

4.6% 2019

5.6% 2020

5.2% 2021

4.2% 2022

4.4% 2023

4.7% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - CM2-zoned commercial property with open workspace, private offices, and unfinished basement area.

Where is this storefront property located?

The property is located at 6055 E BURNSIDE St Portland, OR.

What is the asking price?

The asking price for this property is $420,000.

What are key features of this property?

This property features: CM2 zoning; 839 SQFT main floor with kitchen area, half bath, and open space; 416 SQFT upstairs with 2 separate office/studio rooms