Mixed-Use Investment in
8212 N DENVER Ave, Portland, OR 97217
MULTI_FAMILY - Portland, OR
Property size:
14,100 SFLot size:
0.12 AcresPrice / SF:
$248/SF- Added:
- Feb 18, 2026
- Days on Market:
- 94
- Last Refresh:
- May 23 at 1:06 am
Property Features for 8212 N DENVER Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CM2
- Standard status
- Active
- APN
- R196181
- Size
- 14,100 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- KENTON, BLOCK 3, LOT 35&36
- Tax Annual Amount
- 16972
Building Details
- Year built
- 1911
- Floors in Building
- 3
Listing agent Evan Nelson License #201206804 (310) 422-6044
Listing office eXp Realty, LLC 4800 Meadows Rd Ste 300, Salem, OR (888) 814-9613
Listing date Feb 18, 2026
MLS# 678823640
Listing URL
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.
HighLights
- Strong income potential from fully leased commercial spaces and residential units.
- Extensively remodeled since 2018, offering modern appeal.
- Prime location in the vibrant Kenton neighborhood with high visibility and foot traffic.
- Diverse mix of retail and residential units catering to various tenant needs.
- Shared residential amenities including a large common kitchen, grilling area, and rear deck.
- Walkable, bike‑friendly location near transit, parks, and local businesses.
Overview
Located in the Kenton neighborhood of North Portland, this mixed-use property presents an investment opportunity. The property has been extensively remodeled since 2018. The main level features three fully leased commercial spaces, occupied by a restaurant, a salon, and a record shop. These street-facing storefronts benefit from high visibility and foot traffic along N Denver Ave. Each commercial unit is individually metered. The second floor includes 11 residential units, featuring two one-bedroom apartments with full bathrooms and kitchenettes, and nine micro units. These include one double-sized micro unit with an in-unit kitchenette, seven standard micro units with kitchenettes (cabinetry, shelving, sinks, mini fridges), and one streamlined unit without a kitchenette. Residents have access to a large common kitchen and dining space, an enclosed grilling area with built-in BBQ, seating, and gas fire pit, plus a rear deck with seating and elevated views. Additional conveniences include a washer/dryer closet, two powder rooms, and two dedicated shower rooms. A spacious, mostly open basement includes three secured storage units, with room for additional build-out. The property is located in a walkable, bike-friendly area near transit, parks, and local businesses. The property is suitable for investors or owner-users seeking income, flexibility, and long-term value.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$2.12M
NOI $190,350 @ 9.00% cap · cautious / downside scenario
Moderate
$2.72M
NOI $190,350 @ 7.00% cap · market / base-case scenario
Aggressive
$3.81M
NOI $190,350 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $338.4k | $24.00 |
| − Vacancy | −$33.8k | −$2.40 |
| EGI | $304.6k | $21.60 |
| − OpEx | −$114.2k | −$8.10 |
| NOI | $190.4k | $13.50 |
14,100 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$2.72M
$2.38M – $3.17M
NOI $190,350 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$2.59M
$2.26M – $3.02M
NOI $181,044 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$3.96M
$3.46M – $4.62M
NOI $277,174 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Paul Co-Live
Housing Complex
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.686526
- Latitude
- 45.582681
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Remodeled mixed-use property with retail and residential units in Portland.
Where is this mixed-use property located?
The property is located at 8212 N DENVER Ave Portland, OR.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Strong income potential from fully leased commercial spaces and residential units.; Extensively remodeled since 2018, offering modern appeal.; Prime location in the vibrant Kenton neighborhood with high visibility and foot traffic.
