Multi-Tenant Storefront
For Sale
$1,999,990
4047 NE BROADWAY St, Portland, OR 97232
CommercialSale, Portland, OR
Property Size4,838 SF
Lot Size0.06 Acres
Price / SF$413.39
Days on Market50
Property Features for 4047 NE BROADWAY St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
com
Directions
Sandy and 40th Ave or Broadway and 40th Ave
Subdivision
_142
Standard status
Active
APN
R251868
Size
4,838 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
RALSTONS ADD, BLOCK 4, LOT 1 EXC PT IN STS
Tax Annual Amount
15617
Legal Description
RALSTONS ADD, BLOCK 4, LOT 1 EXC PT IN STS
Building Details
Year built
1927
Roof type
Flat
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Peter Nguyen
(503) 341-6937
Added: Jul 8
Changed: Aug 25
Last Checked: Aug 26 at 3:06AM
MLS# 605607839
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This storefront property at 4047 NE Broadway St in Portland contains 4,838 square feet on a 0.06-acre parcel. Built in 1927, the building has a flat roof and commercial zoning designated as com.
The property is occupied by multiple tenants, providing an established multi-occupant configuration. Its location in Multnomah County places the asset within Portland’s 97232 postal area.
The property is occupied by multiple tenants, providing an established multi-occupant configuration. Its location in Multnomah County places the asset within Portland’s 97232 postal area.
Key Highlights
- 4,838‑square‑foot storefront property
- 0.06‑acre parcel at 4047 NE BROADWAY St
- Multiple tenants occupy the building
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
$56,387
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
2.82%
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%
$1,127,740
$1.1M
Cap Rate 7%
$805,529
$805.5K
Cap Rate 9%
$626,522
$626.5K
Market Conditions
NOI Build-Up for 4,838 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
$87.1K $18.00/SF
− Vacancy
−$6.5K −$1.35/SF
EGI
$80.6K $16.65/SF
− OpEx
−$24.2K −$5.00/SF
NOI
$56.4K $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%
$1,127,740
Cap Rate 7%
$805,529
Cap Rate 9%
$626,522
Alternative Uses
Best Use
Retail
$805.5K
$704.8K – $939.8K
NOI $56,387 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,104 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,321
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned storefront building with existing tenant occupancy in Portland.
Where is this storefront property located?
The property is located at 4047 NE BROADWAY St Portland, OR.
What is the asking price?
The asking price for this property is $1,999,990.
What are key features of this property?
This property features: 4,838‑square‑foot storefront property; 0.06‑acre parcel at 4047 NE BROADWAY St; Multiple tenants occupy the building
