Storefront Property with Office
New
For Sale
$420,000
6055 E BURNSIDE St, Portland, OR 97215
Land, Portland, OR
Property Size2,085 SF
Price / SF$201.44
Days on Market4
Property Features for 6055 E BURNSIDE St
General Information
Property type
Land
Property subtype
Other
Zoning
CM2
Elementary school
Glencoe
Middle school
Mt Tabor
High school
Franklin
Directions
Corner of 61st and East Burnside
Subdivision
_142
Standard status
Active
APN
R230656
Taxes and HOA fees
Tax Description
ORCHARD HOMES, BLOCK 3, LOT 18
Tax Annual Amount
5361
Legal Description
ORCHARD HOMES, BLOCK 3, LOT 18
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Jarrin Benson
(503) 505-1718
Added: Aug 20
Last Checked: Aug 23 at 10:06AM
MLS# 206212997
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 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.
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 = 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
$24,301
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
5.79%
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%
$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
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
$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 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%
$486,020
Cap Rate 7%
$347,157
Cap Rate 9%
$270,011
Alternative Uses
Best Use
Retail
$347.2K
$303.8K – $405.0K
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
NOI $40,986 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
