For Sale
$1,600,000
12208 SE MARKET, Portland, OR 97233
Grocery and convenience stores
Property Size4,242 SF
Lot Size0.38 Acres
Price / SF$377.18
Days on Market153
Property Features for 12208 SE MARKET
General Information
Standard status
Active
Size
4,242 SF
Lot size
0.38 Acres
Property subtype
Commercial
Building Details
Year Built
1951
Listing Agency:
OREGON FIRST
(503) 667-5686
Listed By:
AMY LIU · License #201239122
Source:
Corcoran
Added: Mar 2
Changed: Jul 10
Last Checked: Aug 2 at 7:34AM
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 OREGON FIRST
Investment Insights
Based on property information with market context.
Key Highlights
- Prime signalized corner location with high visibility and traffic.
- CG‑zoned lot with two buildings totaling 4,242 SF, offering investment potential.
- Building 1 features recent upgrades including new roof, furnaces, A/C units, interior paint, bathrooms, water lines, and iron fencing.
Financial Insights For Specialty 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 | $81.4k | $19.20 |
| − Vacancy | −$5.3k | −$1.25 |
| EGI | $76.2k | $17.95 |
| − OpEx | −$19.0k | −$4.49 |
| NOI | $57.1k | $13.46 |
4,242 SF · lease $19.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$815.9K
$713.9K – $951.9K
NOI $57,114 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$706.3K
$618.0K – $824.0K
NOI $49,441 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,388 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Grocery Outlet — 12102 SE Division St, Portland, OR 97266
- Roman Russian Food Store — 10918 SE Division St, Portland, OR 97266
- Mercado Las Palomas — 13046 SE Stark St, Portland, OR 97233
Frequently Asked Questions
Where is this grocery and convenience store located?
The property is located at 12208 SE MARKET 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: Prime signalized corner location with high visibility and traffic.; CG‑zoned lot with two buildings totaling 4,242 SF, offering investment potential.; Building 1 features recent upgrades including new roof, furnaces, A/C units, interior paint, bathrooms, water lines, and iron fencing.
