Conventional Restaurant
For Sale
Contact for pricing
9880 SE Washington St., Portland, OR 97216
Former Red Robin facility beside a Target and Home Depot anchored retail center in Portland.
Property Size6,330 SF
Lot Size0.32 Acres
Price / SF$300
Days on Market9
Property Features for 9880 SE Washington St.
General Information
Standard status
Active
Size
6,330 SF
Lot size
0.32 Acres
Property subtype
Retail
Investment Type
Redevelopment
Building Details
Year Built
2001
Buildings
1
Listing Agency:
Matthews
Listed By:
Josh Bishop · License #688810
Source:
Crexi
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 20 at 6:15PM
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 Matthews
Investment Insights
Based on property information with market context.
This conventional restaurant property includes a 6,330-square-foot building completed in 2001 as a built-to-suit facility for Red Robin. The existing structure offers a substantial restaurant footprint on an approximately 0.32-acre parcel and is positioned for redevelopment or continued restaurant use, subject to applicable approvals.
The property is located at 9880 SE Washington St. in Portland, Oregon, next to a retail center anchored by Target and Home Depot. The surrounding center includes multiple national retailers, providing an established commercial setting and complementary retail activity.
The property is located at 9880 SE Washington St. in Portland, Oregon, next to a retail center anchored by Target and Home Depot. The surrounding center includes multiple national retailers, providing an established commercial setting and complementary retail activity.
Key Highlights
- 6,330‑square‑foot restaurant building completed in 2001
- Approximately 0.32‑acre parcel
- Built‑to‑suit construction for Red Robin
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
$85,227
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
4.49%
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%
$1,704,540
$1.7M
Cap Rate 7%
$1,217,529
$1.2M
Cap Rate 9%
$946,967
$947.0K
Market Conditions
NOI Build-Up for 6,330 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
$121.5K $19.20/SF
− Vacancy
−$7.9K −$1.25/SF
EGI
$113.6K $17.95/SF
− OpEx
−$28.4K −$4.49/SF
NOI
$85.2K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,704,540
Cap Rate 7%
$1,217,529
Cap Rate 9%
$946,967
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,227 @ 7.0% cap · market cap 4.49%
Second Best
Retail
$1.05M
$922.2K – $1.23M
NOI $73,776 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,433 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,654
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97216, OR
17,488
Population
7,235
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,995
Density / Sq Mi
$71,951
Median Household Income
$42,537
Median Earnings
$1,390
Median Rent
$439,000
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?
Conventional restaurant - Former Red Robin facility beside a Target and Home Depot anchored retail center in Portland.
Where is this conventional restaurant located?
The property is located at 9880 SE Washington St. Portland, OR.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 6,330‑square‑foot restaurant building completed in 2001; Approximately 0.32‑acre parcel; Built‑to‑suit construction for Red Robin
