Mixed-Use Property with
For Sale
$6,984,320
1407 SE CORA St, Portland, OR 97202
CommercialSale, Portland, OR
Property Size26,702 SF
Lot Size0.24 Acres
Price / SF$261.57
Days on Market8
Property Features for 1407 SE CORA St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
cm2
View
City
Directions
SE Miwaukie and SE Cora
Subdivision
_143
Standard status
Active
APN
R117963
Size
26,702 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
BOISES ADD, BLOCK 10, LOT 26-29, S 4' OF LOT 30
Tax Annual Amount
72511
Legal Description
BOISES ADD, BLOCK 10, LOT 26-29, S 4' OF LOT 30
Utilities
Heating system
Forced Air
Cooling system
Wall Unit(s)
Amenities
luxury vinyl plank flooring
quartz countertops
wood cabinetry
tile backsplashes
stainless appliances
in-unit HVAC
washer/dryer
Building Details
Year built
2020
Roof type
Membrane
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Tod Breslau · License #200204192
(503) 740-4888
Added: Aug 19
Last Checked: Aug 26 at 4:06AM
MLS# 613645242
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1407 SE Cora St in Portland, this mixed-use property combines 20 residential apartments with three commercial suites across approximately 26,702 square feet of gross building area on 0.24 acres. The apartments 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, natural light, and glass storefronts. The suites are described as flexible for retail, service, or office occupancy within a walkable, transit-connected submarket. The property is zoned CM2 and includes forced-air heating, wall-unit cooling, and a membrane roof.
Ground-floor commercial spaces feature polished concrete floors, exposed wood-beam ceilings, natural light, and glass storefronts. The suites are described as flexible for retail, service, or office occupancy within a walkable, transit-connected submarket. The property is zoned CM2 and includes forced-air heating, wall-unit cooling, and a membrane roof.
Key Highlights
- 20 residential apartments and three ground‑floor commercial suites
- Approximately 26,702 SF of gross building area on 0.24 acres
- Residential units include quartz countertops, stainless appliances, in‑unit HVAC, and washer/dryer
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 - Twenty apartments and three ground-floor commercial suites occupy a contemporary, walkable mixed-use building.
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 and three ground‑floor commercial suites; Approximately 26,702 SF of gross building area on 0.24 acres; Residential units include quartz countertops, stainless appliances, in‑unit HVAC, and washer/dryer
