Pearl District Retail
For Sale
Contact for pricing
416 NW 10th Ave, Portland, OR 97209
High-visibility retail space in Portland's Pearl District.
Property Size5,000 SF
Price / SF$380
Days on Market800
Property Features for 416 NW 10th Ave
General Information
Standard status
Active
Size
5,000 SF
Class
C
Property subtype
Retail
Zoning
EXd (Central Employment - Design)
Investment Type
Owner/User
Building Details
Year Built
1941
Buildings
1
Stories
1
Listing Agency:
Cushman & Wakefield - Portland, Oregon
Listed By:
Jim Lewis · License #OR 200412086
(503) 279-1743
Source:
Crexi
Added: Jul 1, 2024
Changed: Sep 7
Last Checked: Sep 8 at 7:29AM
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 Cushman & Wakefield - Portland, Oregon
Investment Insights
Based on property information with market context.
This is a street-level retail space located in Portland's Pearl District. The property benefits from high visibility and a location on NW 10th Avenue, which includes a Tri-Met Streetcar line. The nearest streetcar stop is one door down from the property. Traffic counts average around 8,000 daily vehicles passing on NW Glisan at 9th Avenue, the closest measured intersection. The area also benefits from strong foot traffic, supported by the 10th and 11th Avenue transit lines and a variety of local retail options. The property has a size of 5000 square feet.
Key Highlights
- High‑visibility retail space in Portland's Pearl District.
- Superb location on NW 10th Ave with Tri‑Met Streetcar line.
- One door down from the nearest streetcar stop.
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
$58,275
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
3.07%
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%
$1,165,500
$1.2M
Cap Rate 7%
$832,500
$832.5K
Cap Rate 9%
$647,500
$647.5K
Market Conditions
NOI Build-Up for 5,000 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
$90.0K $18.00/SF
− Vacancy
−$6.8K −$1.35/SF
EGI
$83.3K $16.65/SF
− OpEx
−$25.0K −$5.00/SF
NOI
$58.3K $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%
$1,165,500
Cap Rate 7%
$832,500
Cap Rate 9%
$647,500
Alternative Uses
Best Use
Retail
$832.5K
$728.4K – $971.3K
NOI $58,275 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,289 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 97209, OR
22,755
Population
16,437
Households
1.4
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
1.0 sq mi
ZIP Area
22,755
Density / Sq Mi
$84,059
Median Household Income
$68,731
Median Earnings
$1,669
Median Rent
$573,700
Median Home Value
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - High-visibility retail space in Portland's Pearl District.
Where is this retail space located?
The property is located at 416 NW 10th Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: High‑visibility retail space in Portland's Pearl District.; Superb location on NW 10th Ave with Tri‑Met Streetcar line.; One door down from the nearest streetcar stop.
