Retail Condo with Multiple
For Sale
Contact for pricing
1030 NW 12th Ave, Portland, OR 97209
Retail condo with four suites and 8,376 SF of available space in Portland’s Pearl District.
Property Size9,193 SF
Price / SF$217.56
Days on Market130
Property Features for 1030 NW 12th Ave
General Information
Standard status
Active
Size
9,193 SF
Property subtype
RETAIL
Occupancy
9%
Building Details
Tenancy
Multi
Listing Agency:
Northmarq Commercial, LLC
(503) 998-6572
Listed By:
Kevin Adatto
(503) 998-6572
Source:
Moodyscre
Added: Mar 26
Changed: Jul 31
Last Checked: Aug 1 at 7:30AM
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 Northmarq Commercial, LLC
Investment Insights
Based on property information with market context.
This 9,193 SF retail condo offers a multi-suite layout with 8,376 SF of available space across four suites. Current occupancy is listed at 9%, with Adore Day Spa as the sole tenant in a 817 SF space. The tenant is described as a 15-year tenant with a lease through May 2030, plus a single 5-year option.
The property is part of The Blocks mixed-use portfolio, which includes 10 buildings and approximately 94,000+ SF of retail. It is also supported by nearby residential condo density, with about 1,200 nearby residential condo units noted in the surrounding area.
The available suite configuration provides flexibility for owner-occupancy or re-tenanting, including the possibility of combining spaces for a larger-format user, based on the existing four-suite arrangement.
The property is part of The Blocks mixed-use portfolio, which includes 10 buildings and approximately 94,000+ SF of retail. It is also supported by nearby residential condo density, with about 1,200 nearby residential condo units noted in the surrounding area.
The available suite configuration provides flexibility for owner-occupancy or re-tenanting, including the possibility of combining spaces for a larger-format user, based on the existing four-suite arrangement.
Key Highlights
- 9,193 SF retail condo with 9% occupancy
- 8,376 SF available across four suites
- Adore Day Spa lease through May 2030 in 817 SF
Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $165.5k | $18.00 |
| − Vacancy | −$12.4k | −$1.35 |
| EGI | $153.1k | $16.65 |
| − OpEx | −$45.9k | −$5.00 |
| NOI | $107.1k | $11.66 |
9,193 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.79M
NOI $107,144 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,713 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 97209, OR
22,755
Population
16,437
Households
1.4
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
1.0 sq mi
ZIP Area
22,755
Density / Sq Mi
$84,059
Median Household Income
$68,731
Median Earnings
$1,669
Median Rent
$573,700
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?
Retail space - Retail condo with four suites and 8,376 SF of available space in Portland’s Pearl District.
Where is this retail space located?
The property is located at 1030 NW 12th Ave Portland, OR.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 9,193 SF retail condo with 9% occupancy; 8,376 SF available across four suites; Adore Day Spa lease through May 2030 in 817 SF
