Drive-Through Subway
For Sale
$790,000
3103 Northeast 82nd Avenue, Portland, OR 97213
Single-tenant drive-through restaurant leased to Subway under an NNN structure with a lease expiring February 28, 2027.
Property Size1,853 SF
Price / SF$426.34
Days on Market16
Property Features for 3103 Northeast 82nd Avenue
General Information
Standard status
Active
Size
1,853 SF
Property subtype
Retail
Additional Details
Opportunity Zone
Yes
Traffic Count
26,000 vehicles/day
Building Details
Tenancy
Single
Listing Agency:
CBRE | Portland
(503) 221-4868
Listed By:
Eleanor Aschoff
(503) 221-4868
Source:
Cbre
Added: Jul 18
Last Checked: Aug 2 at 9:38AM
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 single-tenant restaurant property is leased to a franchised Subway location that has occupied the building since 2010. The building operates under an NNN lease with 3% annual increases. The current lease term is set to expire February 28, 2027, with a five-year option scheduled to be exercised in August of 2026 at FMV.
The restaurant includes a drive-through and is positioned at the high-profile intersection of 82nd Avenue and Siskyou Street in Portland, Oregon. The site is within an Opportunity Zone and is directly across from Glenhaven Park, a 15-acre recreational hub, and McDaniel High School, which has a student body of 1,650. The property is also supported by an estimated daily traffic count of approximately 26,000 vehicles.
The surrounding trade area includes more than 150,000 residents within a three-mile radius, providing a strong local base for a national brand in a corner, high-visibility setting.
The restaurant includes a drive-through and is positioned at the high-profile intersection of 82nd Avenue and Siskyou Street in Portland, Oregon. The site is within an Opportunity Zone and is directly across from Glenhaven Park, a 15-acre recreational hub, and McDaniel High School, which has a student body of 1,650. The property is also supported by an estimated daily traffic count of approximately 26,000 vehicles.
The surrounding trade area includes more than 150,000 residents within a three-mile radius, providing a strong local base for a national brand in a corner, high-visibility setting.
Key Highlights
- Single‑tenant drive‑through restaurant leased to Subway under an NNN structure
- Lease expires February 28, 2027; Subway has occupied the building since 2010
- NNN lease includes 3% annual increases
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 | $35.6k | $19.20 |
| − Vacancy | −$2.3k | −$1.25 |
| EGI | $33.3k | $17.95 |
| − OpEx | −$8.3k | −$4.49 |
| NOI | $24.9k | $13.46 |
1,853 SF · lease $19.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$356.4K
$311.9K – $415.8K
NOI $24,949 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$520.4K
$455.3K – $607.1K
NOI $36,426 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
26,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Single-tenant drive-through restaurant leased to Subway under an NNN structure with a lease expiring February 28, 2027.
Where is this drive through restaurant located?
The property is located at 3103 Northeast 82nd Avenue Portland, OR.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Single‑tenant drive‑through restaurant leased to Subway under an NNN structure; Lease expires February 28, 2027; Subway has occupied the building since 2010; NNN lease includes 3% annual increases
