Portland vs. National Comparisons and Market Performance Indicators
Portland's retail strip center market has demonstrated resilience compared to the broader retail sector with improving fundamentals in 2025.
| Metric | Portland, OR | National Average (Retail) |
|---|---|---|
| Asking Cap Rate | 6.4% - 6.5% | 6.65% |
| Sales Cap Rate | ~5.6% | - |
| Asking Price / SF | $254 | - |
| Sales Price / SF | $283 | - |
| Median Asking Price | $2.04 Million | - |
| Median Sales Price | $1.58 Million | $1.33 Million |
| Vacancy Rate | 4.0% (Q1 2025) | 5.6% (Q1 2025) |
| Rental Rate Growth | +1.3% (YoY) | +3.0% (YoY) |
| Location/Type | Cap Rate |
|---|---|
| Portland Retail Centers | 6.7% (Q3 2024) |
| National Retail Median | 6.55% (2024) |
| Small Strip Malls | 6.45% (2025) |
| Asking Rates (Portland) | 6.4% - 6.5% |
| Location/Type | Vacancy Rate |
|---|---|
| Portland Strip Centers | 4.4% (Q1 2025) |
| Portland Overall Retail | 32% (Q4 2024) |
| National Shopping Centers | 5.3% (Q2 2024) |
| Portland (Q1 2025) | 4.0% |
| Location/Type | Rental Rate | Notes |
|---|---|---|
| Portland Average | $32.27/sq ft | 13% decline from 2019 |
| Regional Average | $21.68/sq ft | - |
| Portland (NNN) | $24.35/sq ft | +1.3% YoY |
| Peer Cities | $28-30/sq ft | Austin, Charlotte, etc. |
| High-End Markets | $37+/sq ft | Boston, San Diego, etc. |
This report draws data from leading commercial real estate research firms and public sources:
National CRE trends and forecasts
First quarter market pulse
Portland retail market analysis
Portland market insights
Disclaimer: This report is for informational purposes only and should not be considered investment advice. Market conditions can change rapidly, and investors should conduct their own due diligence.
Report Date: October 2025