Single-Tenant Furniture
9009 SW HALL BLVD Portland, OR 97223
9009 SW HALL BLVD, Portland, OR, 97223
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For Sale
Contact for pricing
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 Market10
Property Features for 9009 SW HALL BLVD
General Information
- Standard status
- Active
- Size
- 50,808 SF
- Lot size
- 2.49 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1988
Listing Agency
Northmarq - Seattle
Listed by
Sean Tufts · License #WA 74057
Source
Crexi
Added: Jul 8 Checked: Jul 16 at 9:21 am
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 - Seattle
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
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $914.5k | $18.00 |
| − Vacancy | −$68.6k | −$1.35 |
| EGI | $846.0k | $16.65 |
| − OpEx | −$253.8k | −$5.00 |
| NOI | $592.2k | $11.66 |
50,808 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Starbucks
Cafe & Coffee Shop
Target Mobile
Mobile Phone Store
Target Grocery
Grocery & Convenience Store
Janice R. Nelson, ...
Pharmacy
Lindsay K. Fredericks, ...
Pharmacy
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FAQs
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
