For Sale
$1,600,000
12208 SE Market Street, Portland, OR 97233
Grocery and convenience stores
Property Size4,242 SF
Price / SF$377.18
Days on Market319
Property Features for 12208 SE Market Street
General Information
Standard status
Active
Size
4,242 SF
Property subtype
Commercial
Building Details
Year Built
1951
Listing Agency:
Oregon First
Listed By:
Amy Liu · License #201239122
(503) 667-5686
Source:
Century21northhomes
Added: Oct 20, 2025
Changed: Sep 3
Last Checked: Sep 2 at 7:56PM
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
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
$57,114
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
3.57%
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%
$1,142,280
$1.1M
Cap Rate 7%
$815,914
$815.9K
Cap Rate 9%
$634,600
$634.6K
Market Conditions
NOI Build-Up for 4,242 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
$81.4K $19.20/SF
− Vacancy
−$5.3K −$1.25/SF
EGI
$76.2K $17.95/SF
− OpEx
−$19.0K −$4.49/SF
NOI
$57.1K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,142,280
Cap Rate 7%
$815,914
Cap Rate 9%
$634,600
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
- Roman Russian Food Store — 10918 SE Division St, Portland, OR 97266
- Grocery Outlet — 12102 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 Street 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.
