Commercial Warehouse on Three
For Sale
$649,800
6906 SE JOHNSON CREEK, Portland, OR 97206
Commercial warehouse with 3-phase power and Johnson Creek frontage.
Property Size3,095 SF
Lot Size0.69 Acres
Price / SF$209.95
Days on Market696
Property Features for 6906 SE JOHNSON CREEK
General Information
Standard status
Active
Size
3,095 SF
Lot size
0.69 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,082
Amenities
Composition Roof
Covered
Membrane Roof
Off Street
Building Details
Year Built
1965
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES NW REAL ESTATE
(503) 907-2280
Listed By:
CHRISTOPHER KELLY · License #930300187
Source:
Corcoran
Added: Sep 14, 2024
Changed: Aug 8
Last Checked: Aug 8 at 1:37PM
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 BERKSHIRE HATHAWAY HOMESERVICES NW REAL ESTATE
Investment Insights
Based on property information with market context.
This commercial warehouse is situated on three tax lots, offering various possibilities. The existing house on the property is suitable for demolition. The warehouse includes a paint booth enclosure and is equipped with 3-phase power, supplied by three separate meters. It features three loading doors with heights of 10 feet, 9 feet, and 10.5 feet, respectively. The property also boasts 212 feet of frontage on Johnson Creek Boulevard. Previously licensed for cannabis production and sale as a non-conforming use with the county. The building has a size of 3095 square feet. Prospective buyers are advised to conduct their own due diligence to ascertain the feasibility of their intended use.
Key Highlights
- 212ft of Johnson Creek BLVD Frontage
- 3‑Phase Power with 3 Separate Meters
- Three Loading Doors (10ft, 9ft, 10.5ft)
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
$25,063
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
3.86%
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%
$501,260
$501.3K
Cap Rate 7%
$358,043
$358.0K
Cap Rate 9%
$278,478
$278.5K
Market Conditions
NOI Build-Up for 3,095 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
$31.6K $10.20/SF
− Vacancy
−$2.1K −$0.67/SF
EGI
$29.5K $9.53/SF
− OpEx
−$4.4K −$1.43/SF
NOI
$25.1K $8.10/SF
Area
ZIP 97206
Vacancy
6.60%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$501,260
Cap Rate 7%
$358,043
Cap Rate 9%
$278,478
Alternative Uses
Best Use
Warehouse
$358.0K
$313.3K – $417.7K
NOI $25,063 @ 7.0% cap · market cap 3.86%
Second Best
Industrial
$277.5K
$242.8K – $323.8K
NOI $19,426 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$869.2K
$760.5K – $1.01M
NOI $60,841 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Balanced
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 Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Johnson Creek Mini-Storage — 8935 SE Stanley Pl, Portland, OR 97206
- Self Storage — 9950 se 82nd ave, happy valley, or 97086
- West Coast Self-Storage Clackamas — 8319 SE Otty Rd, Happy Valley, OR 97086
- Public Storage — 8085 SE 82nd Ave, Portland, OR 97266
Frequently Asked Questions
What type of property is this?
Warehouse - Commercial warehouse with 3-phase power and Johnson Creek frontage.
Where is this warehouse located?
The property is located at 6906 SE JOHNSON CREEK Portland, OR.
What is the asking price?
The asking price for this property is $649,800.
What are key features of this property?
This property features: 212ft of Johnson Creek BLVD Frontage; 3‑Phase Power with 3 Separate Meters; Three Loading Doors (10ft, 9ft, 10.5ft)
