Corner-Lot Storefront
For Sale
$995,000
8827 SE DIVISION St, Portland, OR 97266
CommercialSale, Portland, OR
Property Size3,900 SF
Lot Size0.21 Acres
Price / SF$255.13
Days on Market415
Property Features for 8827 SE DIVISION St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM1
Directions
SE Division corner of 89th Ave
Subdivision
_143
Standard status
Active
APN
R202171
Size
3,900 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
LATONIA AC, BLOCK 2, LOT 13 EXC PT IN ST
Tax Annual Amount
7061
Legal Description
LATONIA AC, BLOCK 2, LOT 13 EXC PT IN ST
Building Details
Year built
1949
Listing Agency:
Oregon First
(503) 667-5686
Listed By:
Amy Liu · License #201239122
(503) 317-3522
Added: Aug 16, 2025
Changed: Sep 25
Last Checked: Oct 4 at 4:06PM
MLS# 328806098
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 freestanding 3,900-square-foot storefront building was constructed in 1949 and includes an office and a bathroom. The property occupies a fenced 0.21-acre corner parcel. Building updates include a 600-amp electrical system with 3-phase panels, new plumbing, and a roof installed in 2020.
Zoned CM1, the site allows office, retail, light industrial, multifamily, and residential uses. The property is at SE 89th Ave and Division, with a college, restaurants, shops, and major retail described as walkable destinations nearby.
Zoned CM1, the site allows office, retail, light industrial, multifamily, and residential uses. The property is at SE 89th Ave and Division, with a college, restaurants, shops, and major retail described as walkable destinations nearby.
Key Highlights
- Freestanding 3,900‑square‑foot commercial building
- Fenced 0.21‑acre corner lot at SE 89th Ave and Division
- CM1 zoning allows office, retail, light industrial, multifamily, and residential uses
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
$45,455
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
4.57%
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%
$909,100
$909.1K
Cap Rate 7%
$649,357
$649.4K
Cap Rate 9%
$505,056
$505.1K
Market Conditions
NOI Build-Up for 3,900 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
$70.2K $18.00/SF
− Vacancy
−$5.3K −$1.35/SF
EGI
$64.9K $16.65/SF
− OpEx
−$19.5K −$5.00/SF
NOI
$45.5K $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%
$909,100
Cap Rate 7%
$649,357
Cap Rate 9%
$505,056
Alternative Uses
Best Use
Retail
$649.4K
$568.2K – $757.6K
NOI $45,455 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$958.3K – $1.28M
NOI $76,665 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97266, OR
36,095
Population
13,863
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
5,917
Density / Sq Mi
$71,791
Median Household Income
$39,856
Median Earnings
$1,532
Median Rent
$420,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Portland, OR
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Similar Off Market Nearby
- Anna's Flowers — 8480 SE Division St, Portland, OR 97266
Frequently Asked Questions
What type of property is this?
Storefront property - A freestanding commercial property with office and restroom space, CM1 zoning, and upgraded building systems.
Where is this storefront property located?
The property is located at 8827 SE DIVISION St Portland, OR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Freestanding 3,900‑square‑foot commercial building; Fenced 0.21‑acre corner lot at SE 89th Ave and Division; CM1 zoning allows office, retail, light industrial, multifamily, and residential uses
