324 SE Grand Ave, Portland, OR
18,000 SF building with flexible zoning in urban renewal area.
- Added:
- Dec 8, 2023
- Days on Market:
- 922
- Last Refresh:
- May 20 at 8:40 pm
Property Features for 324 SE Grand Ave
General Information
- Standard status
- Active
- Size
- 18,000 SF
- Lot size
- 0.21 Acres
- Property subtype
- RETAIL
Listing agent Todd Deneffe
Listing office Cascade Commercial Real Estate LLC (503) 705-6380
Listing date Dec 8, 2023
Source Moodyscre
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 Cascade Commercial Real Estate LLC
HighLights
- Flexible zoning allows for retail, office, residential, or light manufacturing.
- Expansive space: 9000 sf on street level with soaring 14’ ceilings and an additional 9000 sf basement.
- Located in urban renewal, opportunity, and enterprise zone.
- Benefit from 8000 sf of nearby parking (up to 20 vehicles).
- Grade doors serve each level.
- Potential to acquire adjacent properties to control over ¾ of the block.
Overview
Local 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 | $324.0k | $18.00 |
| − Vacancy | −$24.3k | −$1.35 |
| EGI | $299.7k | $16.65 |
| − OpEx | −$89.9k | −$5.00 |
| NOI | $209.8k | $11.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.66
- Latitude
- 45.5206