Historic Mixed-Use Building For
For Sale
Contact for pricing
711-719 SE Grand Ave, Portland, OR
Historic mixed-use building with retail and office space available.
Property Size9,812 SF
Lot Size0.11 Acres
Price / SF$163.07
Days on Market933
Property Features for 711-719 SE Grand Ave
General Information
Standard status
Active
Size
9,812 SF
Lot size
0.11 Acres
Property subtype
OFFICE
Listing Agency:
NAI Elliott
(503) 224-6791
Listed By:
Justin Darling
(503) 457-2990
Source:
Moodyscre
Added: Feb 27, 2024
Changed: Jul 10
Last Checked: Sep 16 at 6:08PM
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 NAI Elliott
Investment Insights
Based on property information with market context.
This is a historic mixed-use building suitable for an owner/user. It features a central location on the close-in east side. The building offers a mix of private offices, open workspaces, large and small conference rooms, and phone booths. Interior features include hardwood floors, high ceilings, and natural light. The property also includes showers, restrooms, kitchens, and a secure bike room. The ground floor is suitable for retail use due to strong traffic counts. The building has a total size of 9812 square feet.
Key Highlights
- Central, close‑in east side location
- Historic mixed‑use building suitable for owner/user
- Features a mix of private offices, open workspaces, conference rooms, and phone booths
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
$132,462
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
8.28%
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%
$2,649,240
$2.6M
Cap Rate 7%
$1,892,314
$1.9M
Cap Rate 9%
$1,471,800
$1.5M
Market Conditions
NOI Build-Up for 9,812 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
$235.5K $24.00/SF
− Vacancy
−$23.5K −$2.40/SF
EGI
$211.9K $21.60/SF
− OpEx
−$79.5K −$8.10/SF
NOI
$132.5K $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%
$2,649,240
Cap Rate 7%
$1,892,314
Cap Rate 9%
$1,471,800
Alternative Uses
Best Use
Mixed Use
$1.89M
$1.66M – $2.21M
NOI $132,462 @ 7.0% cap · market cap 8.28%
Second Best
Office B
$1.81M
$1.59M – $2.12M
NOI $127,013 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$2.76M
$2.41M – $3.21M
NOI $192,882 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,064
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Market
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use building with retail and office space available.
Where is this mixed-use property located?
The property is located at 711-719 SE Grand Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Central, close‑in east side location; Historic mixed‑use building suitable for owner/user; Features a mix of private offices, open workspaces, conference rooms, and phone booths
