6906 SE JOHNSON CREEK, Portland, OR 97206

Building Details

Year Built 1965 More

Listing Agency: BERKSHIRE HATHAWAY HOMESERVICES NW REAL ESTATE Show Phone

Listed By: CHRISTOPHER KELLY

Source: Corcoran

Added: Sep 14, 2024 Changed: Aug 8 Last Checked: Jul 7 at 4:52AM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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 / Yr

$25,063

Cap Rate

3.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$501,260 $501.3K

Cap Rate 7%

$358,043 $358.0K

Cap Rate 9%

$278,478 $278.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,095 SF

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 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 (±1% cap)

NOI $25,063 @ 7.0% cap · market cap 3.86%

Second Best

Industrial

$277.5K

$242.8K – $323.8K (±1% cap)

NOI $19,426 @ 7.0% cap · market cap 2.99%

Theoretical Best

Office A

$869.2K

$760.5K – $1.01M (±1% cap)

NOI $60,841 @ 7.0% cap · market cap 9.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Argo Safety Railings ... General Contractor

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Skin Care Clinic Gym & Fitness Center Spa & Massage Center

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

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

Average Price Trend$/SF for Warehouses in Portland, OR

$222 Jul

$187 Aug

$185 Sep

$185 Oct

Properties on Market for Warehouses in Portland

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Portland, OR

3.4% 2019

4.1% 2020

2.5% 2021

2.1% 2022

4.2% 2023

5.5% 2024

6.6% 2025

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Similar Off Market Nearby

• Self Storage — 9950 se 82nd ave, happy valley, or 97086
• West Coast Self-Storage Clackamas — 8319 SE Otty Rd, Happy Valley, OR 97086
• Johnson Creek Mini-Storage — 8935 SE Stanley Pl, Portland, OR 97206
• 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)