Single-Tenant Furniture
For Sale
Contact for pricing
9009 SW HALL BLVD, Portland, OR 97223
Two-story single-tenant Macy’s Furniture Gallery on a NNN lease along SW Hall Blvd with direct Highway 217 connectivity.
Property Size50,808 SF
Lot Size2.49 Acres
Price / SF$247.21
Days on Market101
Property Features for 9009 SW HALL BLVD
General Information
Standard status
Active
Size
50,808 SF
Total Parking Spaces
129
Lot size
2.49 Acres
Property subtype
Retail
Zoning
MUC
Occupancy
100%
Lease Type
NNN
Net Operating Income
$879,131
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
7%
Building Details
Year Built
1988
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Northmarq
Listed By:
Kevin Adatto · License #WA 85667
(503) 998-6572
Source:
Crexi
Added: Jul 8
Changed: Oct 6
Last Checked: Oct 16 at 7:00AM
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 Northmarq
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Northmarq presents a single-tenant Macy’s Furniture Gallery for sale. The two-story property totals 50,808 SF and is located on a 2.49-acre infill parcel. The asset is offered with a NNN lease structure.
The building fronts SW Hall Blvd with approximately 20,000 VPD and provides direct connectivity to Highway 217, where traffic is reported at approximately 82,000 VPD. It is also in immediate proximity to Washington Square, a super-regional mall in the Portland MSA that generates over 10 million annual visits per Placer.ai.
The offering is structured at a 7.00% cap rate. The lease includes four (4) five-year renewal options with 10% rent bumps. The surrounding submarket reports vacancy of approximately 3%, indicating a supply-constrained retail environment.
The building fronts SW Hall Blvd with approximately 20,000 VPD and provides direct connectivity to Highway 217, where traffic is reported at approximately 82,000 VPD. It is also in immediate proximity to Washington Square, a super-regional mall in the Portland MSA that generates over 10 million annual visits per Placer.ai.
The offering is structured at a 7.00% cap rate. The lease includes four (4) five-year renewal options with 10% rent bumps. The surrounding submarket reports vacancy of approximately 3%, indicating a supply-constrained retail environment.
Key Highlights
- Two‑story, single‑tenant Macy’s Furniture Gallery built in 1988 offering 50,808 SF
- Located on a 2.49‑acre infill parcel along SW Hall Blvd with 120,000 VPD
- Direct connectivity to Highway 217 with 82,000 VPD
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$592,167
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,843,340
$11.8M
Cap Rate 7%
$8,459,529
$8.5M
Cap Rate 9%
$6,579,633
$6.6M
Market Conditions
NOI Build-Up for 50,808 SF
Gross rent
$914.5K $18.00/SF
− Vacancy
−$68.6K −$1.35/SF
EGI
$846.0K $16.65/SF
− OpEx
−$253.8K −$5.00/SF
NOI
$592.2K $11.66/SF
Area
ZIP 97223
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 Rate 5%
$11,843,340
Cap Rate 7%
$8,459,529
Cap Rate 9%
$6,579,633
Alternative Uses
Best Use
Retail
$8.46M
$7.40M – $9.87M
NOI $592,167 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.27M
$12.48M – $16.65M
NOI $998,770 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 97223, OR
49,967
Population
21,428
Households
2.3
Avg Household Size
39
Median Age
50%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
4,502
Density / Sq Mi
$108,040
Median Household Income
$57,411
Median Earnings
$1,726
Median Rent
$577,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Portland, OR
Frequently Asked Questions
What type of property is this?
Retail space - Two-story single-tenant Macy’s Furniture Gallery on a NNN lease along SW Hall Blvd with direct Highway 217 connectivity.
Where is this retail space located?
The property is located at 9009 SW HALL BLVD Portland, OR.
What is the asking price?
The asking price for this property is $12,560,000.
What are key features of this property?
This property features: Two‑story, single‑tenant Macy’s Furniture Gallery built in 1988 offering 50,808 SF; Located on a 2.49‑acre infill parcel along SW Hall Blvd with 120,000 VPD; Direct connectivity to Highway 217 with 82,000 VPD
