Mixed-Use Property with
For Sale
$259,000
7515 NE GLISAN St, Portland, OR 97213
CommercialSale, Portland, OR
Property Size903 SF
Lot Size0.07 Acres
Price / SF$286.82
Days on Market353
Property Features for 7515 NE GLISAN St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM2
Directions
I-205, Glisan exit, West to 75th Ave
Subdivision
_142
Standard status
Active
APN
R202395
Size
903 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
LAUREL PK, BLOCK 6, LOT 8 EXC PT IN ST
Tax Annual Amount
1380
Legal Description
LAUREL PK, BLOCK 6, LOT 8 EXC PT IN ST
Utilities
Heating system
Forced Air
Building Details
Year built
1926
Floors in Building
2
Building materials
VinylSiding
Roof type
Composition
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Barry Bahmanyar
(503) 407-1199
Added: Sep 12, 2025
Changed: Aug 25
Last Checked: Aug 30 at 8:06AM
MLS# 224505145
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 903-square-foot mixed-use property was built in 1926 and is being sold as-is. The improvements feature vinyl siding, forced-air heating, and a composition roof. Parking areas are located at both the front and rear of the property, with the number of spaces subject to buyer verification with the City of Portland.
The property is in Portland’s Montavilla neighborhood, near access to I-84 and I-205. City bus service, local shops, Montavilla Park and Community Center, biking trails, Fred Meyer, and restaurants are located nearby. The surrounding area has a Walk Score of 87. CM2 zoning is identified in the source information as Commercial Mixed Use 2, supporting retail, office, and residential use categories.
The property is in Portland’s Montavilla neighborhood, near access to I-84 and I-205. City bus service, local shops, Montavilla Park and Community Center, biking trails, Fred Meyer, and restaurants are located nearby. The surrounding area has a Walk Score of 87. CM2 zoning is identified in the source information as Commercial Mixed Use 2, supporting retail, office, and residential use categories.
Key Highlights
- 903 SF mixed‑use property on a 0.07‑acre lot
- CM2 zoning identified as Commercial Mixed Use 2
- Built in 1926 with vinyl siding and a composition roof
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
$12,191
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
4.71%
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%
$243,820
$243.8K
Cap Rate 7%
$174,157
$174.2K
Cap Rate 9%
$135,456
$135.5K
Market Conditions
NOI Build-Up for 903 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
$21.7K $24.00/SF
− Vacancy
−$2.2K −$2.40/SF
EGI
$19.5K $21.60/SF
− OpEx
−$7.3K −$8.10/SF
NOI
$12.2K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$243,820
Cap Rate 7%
$174,157
Cap Rate 9%
$135,456
Alternative Uses
Best Use
Mixed Use
$174.2K
$152.4K – $203.2K
NOI $12,191 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$253.6K
$221.9K – $295.9K
NOI $17,751 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CM2-zoned property with parking areas at the front and rear, near transit, retail, parks, and major interstate routes.
Where is this mixed-use property located?
The property is located at 7515 NE GLISAN St Portland, OR.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 903 SF mixed‑use property on a 0.07‑acre lot; CM2 zoning identified as Commercial Mixed Use 2; Built in 1926 with vinyl siding and a composition roof
