Mixed-Use Property in NW
821 NW 16TH Portland, OR 97209
821 NW 16TH, Portland, OR, 97209
$899,900
For Sale
$899,900
Mixed-use property with office space, apartment, and interior parking.
Property Size5,088 SF
Lot Size0.08 Acres
Price / SF$176.87
Days on Market484
Property Features for 821 NW 16TH
General Information
- Standard status
- Active
- Size
- 5,088 SF
- Lot size
- 0.08 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1904
Listing agency
BISON PROPERTIES
(503) 208-2991
Listed by
MATTHEW WILLIAMS · License #200109059
Source
Corcoran
Added: Mar 25, 2025 Updated: Jul 10 at 12:54PM Checked: Jul 21 at 6:04AM
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 BISON PROPERTIES
Investment Insights
Based on property information with market context.
This mixed-use property is located in a niche neighborhood in Northwest Portland and is zoned CM3. The property offers potential as a live/work space or a duplex for residential or investment purposes, accommodating both residential and commercial uses. The main level is currently configured as office space, featuring an open layout with both community areas and private offices. The upstairs apartment is described as light-filled and open, containing 4 bedrooms and 2 bathrooms. A notable feature is the interior parking space, which can accommodate up to 6 cars. The property is located close to shopping, NW 23rd Avenue, restaurants, freeway access, parks, downtown, and other entertainment options. The building has a total size of 5088 square feet.
Key Highlights
- Zoned CM3, allowing for flexible mixed‑use as live/work space, residential duplex, or commercial investment.
- Interior parking for up to 6 cars, offering resident parking or rental income potential.
- Upstairs apartment features 4 bedrooms and 2 bathrooms with an open floor plan.
Local Financial Insights For Multifamily LT 5
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 | $106.8k | $21.00 |
| − Vacancy | −$5.6k | −$1.09 |
| EGI | $101.3k | $19.91 |
| − OpEx | −$30.4k | −$5.97 |
| NOI | $70.9k | $13.94 |
5,088 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$886.3K – $1.18M
NOI $70,904 @ 7.0% cap · market cap 7.88%
Second Best
Mixed Use
$981.3K
$858.6K – $1.14M
NOI $68,688 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,019 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with office space, apartment, and interior parking.
Where is this mixed-use property located?
The property is located at 821 NW 16TH Portland, OR.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Zoned CM3, allowing for flexible mixed‑use as live/work space, residential duplex, or commercial investment.; Interior parking for up to 6 cars, offering resident parking or rental income potential.; Upstairs apartment features 4 bedrooms and 2 bathrooms with an open floor plan.
