Auto Shop With Warehouse
For Sale
$4,999,000
7606 NE M L KING JR Blvd, Portland, OR 97211
CommercialSale, Portland, OR
Property Size32,000 SF
Lot Size1.58 Acres
Price / SF$156.22
Days on Market449
Property Features for 7606 NE M L KING JR Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
EG2
Directions
Corner of NE MLK Jr Blvd & NE Russet St in Portland
Subdivision
_142
Standard status
Active
APN
R155425
Size
32,000 SF
Lot size
1.58 Acres
Taxes and HOA fees
Tax Description
EL TOVAR, BLOCK 15, LOT 5-12 (plus 6 more lots)
Tax Annual Amount
16040
Legal Description
EL TOVAR, BLOCK 15, LOT 5-12 (plus 6 more lots)
Building Details
Year built
1948
Floors in Building
3
Building materials
Concrete
Roof type
Flat, Metal, Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Bradley King · License #201235429
(503) 313-8262
Added: Jun 4, 2025
Changed: Aug 25
Last Checked: Aug 26 at 5:06AM
MLS# 757187463
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This auto shop property at 7606 NE M L KING JR Blvd in Portland comprises two concrete warehouse buildings totaling 32,000 square feet. The larger structure contains 22,000 square feet with office space, while the second building measures 10,000 square feet. The improvements date to 1948 and include flat, metal, and composition roofing. Automotive operations are supported by 3-phase power, gas fuel, and 12 total roll-up doors.
The property spans 7 tax lots and 1.58 acres in the EG2 zoning district. Its location near Martin Luther King Jr Blvd places the site within a commercial corridor, with the address providing direct access to the surrounding Portland market. The configuration combines shop, warehouse, and office areas within a single multi-lot property.
The property spans 7 tax lots and 1.58 acres in the EG2 zoning district. Its location near Martin Luther King Jr Blvd places the site within a commercial corridor, with the address providing direct access to the surrounding Portland market. The configuration combines shop, warehouse, and office areas within a single multi-lot property.
Key Highlights
- 32,000‑square‑foot property across two warehouse buildings
- 22,000‑square‑foot building with office space plus a separate 10,000 SF warehouse
- 12 total roll‑up doors for automotive and warehouse operations
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
$372,960
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
7.46%
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%
$7,459,200
$7.5M
Cap Rate 7%
$5,328,000
$5.3M
Cap Rate 9%
$4,144,000
$4.1M
Market Conditions
NOI Build-Up for 32,000 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
$576.0K $18.00/SF
− Vacancy
−$43.2K −$1.35/SF
EGI
$532.8K $16.65/SF
− OpEx
−$159.8K −$5.00/SF
NOI
$373.0K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$7,459,200
Cap Rate 7%
$5,328,000
Cap Rate 9%
$4,144,000
Alternative Uses
Best Use
Retail
$5.33M
$4.66M – $6.22M
NOI $372,960 @ 7.0% cap · market cap 7.46%
Second Best
Warehouse
$3.48M
$3.05M – $4.06M
NOI $243,886 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$8.99M
$7.86M – $10.48M
NOI $629,047 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Similar Off Market Nearby
- AG Ward's Auto Body — 810 N Rosa Parks Way, Portland, OR 97217
- Clockn Auto & Truck Repair — 6640 NE Martin Luther King Jr Blvd, Portland, OR 97211
- VIP Collision Center — 6444 NE Martin Luther King Jr Blvd, Portland, OR 97211
- Double J Tire Center — 6841 NE Martin Luther King Jr Blvd, Portland, OR 97211
- WestSide Auto Body & Paint — 6842 NE Martin Luther King Jr Blvd, Portland, OR 97211
Frequently Asked Questions
What type of property is this?
Auto shop - Two warehouse buildings provide office areas, substantial work space, and automotive service functionality.
Where is this auto shop located?
The property is located at 7606 NE M L KING JR Blvd Portland, OR.
What is the asking price?
The asking price for this property is $4,999,000.
What are key features of this property?
This property features: 32,000‑square‑foot property across two warehouse buildings; 22,000‑square‑foot building with office space plus a separate 10,000 SF warehouse; 12 total roll‑up doors for automotive and warehouse operations
