Versatile Mixed-Use Property For
2901 SE 122ND Portland, OR 97236
2901 SE 122ND, Portland, OR, 97236
$399,000
For Sale
$399,000
Charming property with flexible space, ideal for live/work setup.
Property Size2,282 SF
Price / SF$174.85
Days on Market443
Property Features for 2901 SE 122ND
General Information
- Standard status
- Active
- Size
- 2,282 SF
Building Details
- Year Built
- 1951
Listing Agency
HOMETRUST REAL ESTATE
Listed by
JASMINE PHAM
Source
Corcoran
Added: May 1, 2025 Checked: Mar 16 at 9:09 am
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 HOMETRUST REAL ESTATE
Investment Insights
Based on property information with market context.
This versatile property features a main level and a basement with both interior and exterior entrances, offering abundant space, flexibility, and functionality. The main level includes 2 bedrooms and a roll-in shower. The basement adds even more value with a full bathroom, family room, and ample storage space. A standout feature is the detached garage space, approximately 665 sqft, with a bathroom. Located on a high-exposure corner lot, this property benefits from excellent visibility, street parking, and proximity to local amenities and major routes. This property is zoned CM2 and is suitable for a live/work setup, an investment opportunity, or a space to customize and grow. The property size is 2282 sqft.
Key Highlights
- Detached 665 sqft garage with bathroom, suitable for home office or business.
- Basement with interior/exterior entrances, full bathroom, family room, and ample storage.
- High‑exposure corner lot with excellent visibility and street parking.
Local Financial Insights For Mixed Use
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 | $54.8k | $24.00 |
| − Vacancy | −$5.5k | −$2.40 |
| EGI | $49.3k | $21.60 |
| − OpEx | −$18.5k | −$8.10 |
| NOI | $30.8k | $13.50 |
2,282 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$440.1K
$385.1K – $513.5K
NOI $30,807 @ 7.0% cap · market cap 7.72%
Second Best
Office B
$422.0K
$369.3K – $492.3K
NOI $29,540 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$640.8K
$560.7K – $747.7K
NOI $44,859 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
National Multiple Sclerosis
Social Service Agency
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FAQs
What type of property is this?
Mixed-use property - Charming property with flexible space, ideal for live/work setup.
Where is this mixed-use property located?
The property is located at 2901 SE 122ND Portland, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Detached 665 sqft garage with bathroom, suitable for home office or business.; Basement with interior/exterior entrances, full bathroom, family room, and ample storage.; High‑exposure corner lot with excellent visibility and street parking.
