Standalone Medical Office
For Sale
$425,000
Pending
6227 SE POWELL, Portland, OR 97206
Standalone 2,943 SF medical office with exam rooms, reception, and private on-site parking for about six vehicles.
Property Size2,943 SF
Days on Market123
Property Features for 6227 SE POWELL
General Information
Standard status
Pending
Size
2,943 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,628
Amenities
Central air
Central Air Cooling
Composition Roof
Forced Air Heating
On Site
Building Details
Year Built
1966
Listing Agency:
KELLER WILLIAMS REALTY PORTLAND PREMIERE
(503) 597-2444
Listed By:
BRADLEY KING · License #201235429
(503) 313-8262
Source:
Corcoran
Added: May 8
Changed: Aug 8
Last Checked: Jul 23 at 9:07AM
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 KELLER WILLIAMS REALTY PORTLAND PREMIERE
Investment Insights
Based on property information with market context.
Standalone medical office building totaling 2,943 SF, set on a 4,997 SF lot with a layout designed for clinical use. The interior includes patient exam rooms, a reception area, and private on-site parking for an estimated six vehicles.
The property is located in SE Portland on a high-visibility site. It is zoned CG (General Commercial) and offers easy access to I-205 for patients across the metro area, along with signage opportunities.
The configuration supports a dedicated patient-facing medical practice with a clear entry and waiting/reception area, complemented by multiple exam rooms for day-to-day clinical operations.
The property is located in SE Portland on a high-visibility site. It is zoned CG (General Commercial) and offers easy access to I-205 for patients across the metro area, along with signage opportunities.
The configuration supports a dedicated patient-facing medical practice with a clear entry and waiting/reception area, complemented by multiple exam rooms for day-to-day clinical operations.
Key Highlights
- Standalone 2,943 SF medical office built in 1966 on a 4,997 SF lot
- Clinical layout includes patient exam rooms and a reception area
- Zoned CG (General Commercial)
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
$38,096
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
8.96%
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%
$761,920
$761.9K
Cap Rate 7%
$544,229
$544.2K
Cap Rate 9%
$423,289
$423.3K
Market Conditions
NOI Build-Up for 2,943 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
$67.1K $22.80/SF
− Vacancy
−$16.3K −$5.54/SF
EGI
$50.8K $17.26/SF
− OpEx
−$12.7K −$4.31/SF
NOI
$38.1K $12.94/SF
Area
ZIP 97206
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$761,920
Cap Rate 7%
$544,229
Cap Rate 9%
$423,289
Alternative Uses
Best Use
Healthcare Medical
$612.7K
$536.1K – $714.8K
NOI $42,888 @ 7.0% cap · market cap 10.09%
Second Best
Office B
$544.2K
$476.2K – $634.9K
NOI $38,096 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$826.5K
$723.2K – $964.2K
NOI $57,853 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Under-served
Demand for This Use
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 Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Standalone 2,943 SF medical office with exam rooms, reception, and private on-site parking for about six vehicles.
Where is this medical office space located?
The property is located at 6227 SE POWELL Portland, OR.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Standalone 2,943 SF medical office built in 1966 on a 4,997 SF lot; Clinical layout includes patient exam rooms and a reception area; Zoned CG (General Commercial)
