Industrial Outdoor Storage
For Sale
Contact for pricing
6899-7001 NE Columbia Blvd, Portland, OR 97218
100% leased industrial outdoor storage asset with fenced yard and absolute NNN structure for low-operator involvement.
Property Size36,985 SF
Lot Size4.56 Acres
Price / SF$269.03
Days on Market54
Property Features for 6899-7001 NE Columbia Blvd
General Information
Standard status
Active
Size
36,985 SF
Total Parking Spaces
44
Lot size
4.56 Acres
Property subtype
Industrial
Zoning
IG-2 General Industrial 2
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$583,944
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Year Built
1966
Buildings
2
Tenancy
Single
Listing Agency:
Kidder Matthews
(503) 721-2721
Listed By:
John Hallman · License #201235126
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 11 at 3:40PM
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 Kidder Matthews
Investment Insights
Based on property information with market context.
6899–7001 NE Columbia Blvd presents a 100% leased industrial outdoor storage (IOS) facility on 4.56 acres. The property includes a 36,985 SF single-tenant industrial building occupied by Pacific Service Center under an absolute NNN lease. The tenant is responsible for taxes, insurance, and maintenance. Site features include a fenced and secured yard plus both dock and grade-level loading to support industrial and outdoor storage operations.
The property is positioned along NE Columbia Boulevard with immediate access to Interstate-205 and is minutes from Portland International Airport. Zoning is IG-2 General Industrial, which aligns with a range of industrial and outdoor storage uses and supports long-term operational flexibility.
For investors, the asset offers in-place occupancy with a tenant-pay absolute NNN framework, while the secured yard and loading configuration support an IOS tenant profile. For operators seeking an existing outdoor storage setup, the combination of fenced grounds, grade and dock loading, and IG-2 zoning provides a straightforward path to use the site for industrial storage requirements within an infill industrial corridor.
The property is positioned along NE Columbia Boulevard with immediate access to Interstate-205 and is minutes from Portland International Airport. Zoning is IG-2 General Industrial, which aligns with a range of industrial and outdoor storage uses and supports long-term operational flexibility.
For investors, the asset offers in-place occupancy with a tenant-pay absolute NNN framework, while the secured yard and loading configuration support an IOS tenant profile. For operators seeking an existing outdoor storage setup, the combination of fenced grounds, grade and dock loading, and IG-2 zoning provides a straightforward path to use the site for industrial storage requirements within an infill industrial corridor.
Key Highlights
- 100% leased industrial outdoor storage investment on 4.56 acres in Portland, OR
- 36,985 SF single‑tenant industrial facility leased to Pacific Service Center
- Absolute NNN lease structure: tenant pays taxes, insurance, and maintenance
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
$375,605
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
3.77%
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%
$7,512,100
$7.5M
Cap Rate 7%
$5,365,786
$5.4M
Cap Rate 9%
$4,173,389
$4.2M
Market Conditions
NOI Build-Up for 36,985 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
$621.3K $16.80/SF
− Vacancy
−$43.5K −$1.18/SF
EGI
$577.9K $15.62/SF
− OpEx
−$202.2K −$5.47/SF
NOI
$375.6K $10.16/SF
Area
Portland, OR
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$7,512,100
Cap Rate 7%
$5,365,786
Cap Rate 9%
$4,173,389
Alternative Uses
Best Use
Flex RnD
$5.37M
$4.70M – $6.26M
NOI $375,605 @ 7.0% cap · market cap 3.77%
Second Best
Industrial
$3.32M
$2.90M – $3.87M
NOI $232,136 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$10.39M
$9.09M – $12.12M
NOI $727,041 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
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?
Flex space - 100% leased industrial outdoor storage asset with fenced yard and absolute NNN structure for low-operator involvement.
Where is this flex space located?
The property is located at 6899-7001 NE Columbia Blvd Portland, OR.
What is the asking price?
The asking price for this property is $9,950,000.
What are key features of this property?
This property features: 100% leased industrial outdoor storage investment on 4.56 acres in Portland, OR; 36,985 SF single‑tenant industrial facility leased to Pacific Service Center; Absolute NNN lease structure: tenant pays taxes, insurance, and maintenance
