Mixed-Use Property with
New
For Sale
$6,984,320
1407 SE CORA ST, Portland, OR 97202
Combined residential and commercial configuration with finished apartments and adaptable ground-floor suites.
Property Size26,702 SF
Lot Size0.24 Acres
Price / SF$261.57
Days on Market2
Property Features for 1407 SE CORA ST
General Information
Standard status
Active
Size
26,702 SF
Lot size
0.24 Acres
Zoning
cm2
Additional Details
Sprinkler System
Yes
Multifamily Units
20
Taxes and HOA fees
Annual Taxes
$72,510
Amenities
yes
Public Water
10, 000 to 14, 999 Sq Ft
no
Gas
City
Paved
Existing
Building Details
Year Built
2020
Buildings
1
Tenancy
Multi
Listing Agency:
(833) 848-8326
Listed By:
Twenty-Four Ten Avenue Realty, LLC
(833) 848-8326
Source:
2410ave.idxbroker
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 3:31AM
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 Twenty-Four Ten Avenue Realty, LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines 20 residential apartments with three commercial suites within approximately 26,702 SF of gross building area. The residences include luxury vinyl plank flooring, quartz countertops, wood cabinetry, tile backsplashes, stainless appliances, in-unit HVAC, and washers and dryers. The building is fully sprinklered.
Ground-floor commercial spaces feature polished concrete floors, exposed wood-beam ceilings, glass storefronts, and natural light. The suites are described as flexible for retail, service, or office occupancy. The property sits at 1407 SE Cora St in Portland’s Southeast MLS area, with directions referencing SE Miwaukie and SE Cora. Zoning is cm2.
Ground-floor commercial spaces feature polished concrete floors, exposed wood-beam ceilings, glass storefronts, and natural light. The suites are described as flexible for retail, service, or office occupancy. The property sits at 1407 SE Cora St in Portland’s Southeast MLS area, with directions referencing SE Miwaukie and SE Cora. Zoning is cm2.
Key Highlights
- 20 residential apartments within a mixed‑use building
- Three ground‑floor commercial suites with modern interior build‑outs
- Approximately 26,702 SF of gross building area on 0.24 acres
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
$373,454
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
5.35%
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%
$7,469,080
$7.5M
Cap Rate 7%
$5,335,057
$5.3M
Cap Rate 9%
$4,149,489
$4.1M
Market Conditions
NOI Build-Up for 26,702 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
$576.8K $21.60/SF
− Vacancy
−$43.3K −$1.62/SF
EGI
$533.5K $19.98/SF
− OpEx
−$160.1K −$5.99/SF
NOI
$373.5K $13.99/SF
Area
ZIP 97202
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$7,469,080
Cap Rate 7%
$5,335,057
Cap Rate 9%
$4,149,489
Alternative Uses
Best Use
Retail
$5.34M
$4.67M – $6.22M
NOI $373,454 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$5.15M
$4.50M – $6.00M
NOI $360,245 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,923 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined residential and commercial configuration with finished apartments and adaptable ground-floor suites.
Where is this mixed-use property located?
The property is located at 1407 SE CORA ST Portland, OR.
What is the asking price?
The asking price for this property is $6,984,320.
What are key features of this property?
This property features: 20 residential apartments within a mixed‑use building; Three ground‑floor commercial suites with modern interior build‑outs; Approximately 26,702 SF of gross building area on 0.24 acres
