Corner Retail and Office
For Sale
$950,000
828 Southeast 35th Avenue, Portland, OR 97214
Corner lot with off-street parking offering retail and office/mixed-use under current zoning allowances.
Property Size3,254 SF
Days on Market49
Property Features for 828 Southeast 35th Avenue
General Information
Standard status
Active
Size
3,254 SF
Property subtype
Mixed-Use
Building Details
Building Size
3,254 SF
Listing Agency:
Capacity Commercial Group
(503) 969-9596
Listed By:
Jim Wierson II · License #201217195
(503) 969-9596
Source:
Capacitycommercial
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 12 at 3:32AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This mixed-use property provides retail and office space on a corner lot, with zoning that allows for retail, office, mixed use, and additional uses. The site includes off-street parking, supporting convenient access for customers and staff.
The property is located at 828 Southeast 35th Avenue in Portland, Oregon, and is positioned as a corner lot configuration. Zoned for retail and office uses, it is suited for tenants seeking a flexible commercial setup.
With its combination of retail and office/mixed-use zoning approvals and off-street parking, the property offers multiple space planning options within the existing use allowances.
The property is located at 828 Southeast 35th Avenue in Portland, Oregon, and is positioned as a corner lot configuration. Zoned for retail and office uses, it is suited for tenants seeking a flexible commercial setup.
With its combination of retail and office/mixed-use zoning approvals and off-street parking, the property offers multiple space planning options within the existing use allowances.
Key Highlights
- Corner lot with off‑street parking
- Current zoning allows retail, office, and mixed‑use
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
$42,122
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
4.43%
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%
$842,440
$842.4K
Cap Rate 7%
$601,743
$601.7K
Cap Rate 9%
$468,022
$468.0K
Market Conditions
NOI Build-Up for 3,254 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
$74.2K $22.80/SF
− Vacancy
−$18.0K −$5.54/SF
EGI
$56.2K $17.26/SF
− OpEx
−$14.0K −$4.31/SF
NOI
$42.1K $12.94/SF
Area
Portland, OR
Vacancy
24.30%
Lease Rate
$22.80 /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%
$842,440
Cap Rate 7%
$601,743
Cap Rate 9%
$468,022
Alternative Uses
Best Use
Office B
$601.7K
$526.5K – $702.0K
NOI $42,122 @ 7.0% cap · market cap 4.43%
Second Best
Retail
$541.8K
$474.1K – $632.1K
NOI $37,925 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$913.8K
$799.6K – $1.07M
NOI $63,966 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Corner lot with off-street parking offering retail and office/mixed-use under current zoning allowances.
Where is this retail space located?
The property is located at 828 Southeast 35th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Corner lot with off‑street parking; Current zoning allows retail, office, and mixed‑use
