Mixed-Use Retail and Residential
For Sale
Contact for pricing
1221 SW 10th Ave, Portland, OR 97205
Mixed-use building featuring retail space with triple-net leases anchored by Portland Art Museum.
Property Size3,108 SF
Price / SF$369.69
Days on Market361
Property Features for 1221 SW 10th Ave
General Information
Standard status
Active
Size
3,108 SF
Property subtype
RETAIL
Additional Details
Business Included
No
Building Details
Tenancy
Multi
Listing Agency:
CBRE | Portland
(503) 221-4850
Listed By:
Megan Wallachy
(503) 221-4850
Source:
Moodyscre
Added: Aug 7, 2025
Changed: Jul 28
Last Checked: Aug 1 at 9:36AM
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 CBRE | Portland
Investment Insights
Based on property information with market context.
This mixed-use building is designed to combine retail and residential components, with income supported by existing triple-net leases. Portland Art Museum and Canoe are identified as tenants on NNN lease structures, with reimbursement of building expenses including taxes, insurance, and maintenance.
The property is described as adjacent to Safeway and located amid popular downtown retail. Public remarks indicate the Portland Art Museum provides a stable income stream while supporting efforts to establish retail activity at the site.
The offering is positioned as a mixed-use asset with established NNN tenancy tied to the museum and another tenant listed in the remarks.
The property is described as adjacent to Safeway and located amid popular downtown retail. Public remarks indicate the Portland Art Museum provides a stable income stream while supporting efforts to establish retail activity at the site.
The offering is positioned as a mixed-use asset with established NNN tenancy tied to the museum and another tenant listed in the remarks.
Key Highlights
- Mixed‑use building with retail space and residential components
- Triple‑net leases in place with Portland Art Museum and Canoe
- Portland Art Museum provides stable income that helps offset building expenses
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 | $74.6k | $24.00 |
| − Vacancy | −$7.5k | −$2.40 |
| EGI | $67.1k | $21.60 |
| − OpEx | −$25.2k | −$8.10 |
| NOI | $42.0k | $13.50 |
3,108 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$599.4K
$524.5K – $699.3K
NOI $41,958 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$517.5K
$452.8K – $603.7K
NOI $36,224 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$872.8K
$763.7K – $1.02M
NOI $61,096 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
11,362
Businesses Nearby
Explore this area
Business Placement
Demographics for 97205, OR
8,593
Population
6,727
Households
1.3
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
0.9 sq mi
ZIP Area
9,548
Density / Sq Mi
$58,943
Median Household Income
$51,002
Median Earnings
$1,381
Median Rent
$693,600
Median Home Value
Market
Properties on Market for Mixed-use properties in Portland
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building featuring retail space with triple-net leases anchored by Portland Art Museum.
Where is this mixed-use property located?
The property is located at 1221 SW 10th Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Mixed‑use building with retail space and residential components; Triple‑net leases in place with Portland Art Museum and Canoe; Portland Art Museum provides stable income that helps offset building expenses
