Commercial Land with Existing
For Sale
$725,000
6907 N Maryland Ave, Portland, OR 97217
CM3-zoned parcel includes a four-bedroom, two-bathroom residence dating to 1938.
Property Size2,052 SF
Days on Market67
Property Features for 6907 N Maryland Ave
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Commercial
Zoning
CM3
Taxes and HOA fees
Annual Taxes
$4,520
Building Details
Building Size
2,052 SF
Year Built
1938
Buildings
1
Stories
2
Listing Agency:
Realty First
(503) 320-9687
Listed By:
Arvell Wilson
(503) 320-9687
Source:
Metanars
Added: Jun 15
Changed: Aug 18
Last Checked: Aug 19 at 3:10PM
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 Realty First
Investment Insights
Based on property information with market context.
This CM3-zoned commercial land parcel encompasses a 7,810-square-foot lot at 6907 N Maryland Ave in Portland. The property includes an existing four-bedroom, two-bathroom house built in 1938, creating a commercial land offering with an established residential structure on site.
The basement bedrooms require new windows to meet conformity requirements. The property information identifies possible commercial, residential, and live-work applications, including food-cart spaces, a commercial building, multifamily housing, accessory dwelling units, or continued business use from the residence.
The basement bedrooms require new windows to meet conformity requirements. The property information identifies possible commercial, residential, and live-work applications, including food-cart spaces, a commercial building, multifamily housing, accessory dwelling units, or continued business use from the residence.
Key Highlights
- 7,810‑square‑foot CM3‑zoned commercial land parcel
- Existing four‑bedroom, two‑bathroom house built in 1938
- Located at 6907 N Maryland Ave, Portland, OR 97217
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
$27,702
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
3.82%
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%
$554,040
$554.0K
Cap Rate 7%
$395,743
$395.7K
Cap Rate 9%
$307,800
$307.8K
Market Conditions
NOI Build-Up for 2,052 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
$49.2K $24.00/SF
− Vacancy
−$4.9K −$2.40/SF
EGI
$44.3K $21.60/SF
− OpEx
−$16.6K −$8.10/SF
NOI
$27.7K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$554,040
Cap Rate 7%
$395,743
Cap Rate 9%
$307,800
Alternative Uses
Best Use
Mixed Use
$395.7K
$346.3K – $461.7K
NOI $27,702 @ 7.0% cap · market cap 3.82%
Second Best
Office B
$379.5K
$332.0K – $442.7K
NOI $26,563 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$576.3K
$504.2K – $672.3K
NOI $40,338 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
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?
Commercial land - CM3-zoned parcel includes a four-bedroom, two-bathroom residence dating to 1938.
Where is this commercial land located?
The property is located at 6907 N Maryland Ave Portland, OR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 7,810‑square‑foot CM3‑zoned commercial land parcel; Existing four‑bedroom, two‑bathroom house built in 1938; Located at 6907 N Maryland Ave, Portland, OR 97217
