Historic Building with Development
1819 NW Everett Street Portland, OR 97209
For Sale
$5,250,000
Historic Northwest Portland building with adjacent lot for development.
Property Size36,691 SF
Lot Size0.69 Acres
Price / SF$143.09
Days on Market182
Property Features for 1819 NW Everett Street
General Information
- Standard status
- Active
- Size
- 36,691 SF
- Lot size
- 0.69 Acres
- Property subtype
- Value-Add Historic Property
Building Details
- Year Built
- 1910
Listing Agency:
Capacity Commercial Group
(503) 222-2655
Listed By:
Nicholas Diamond · License #OR #200403266
Source:
Corfac
Added: Jan 26
Changed: Jul 6
Last Checked: Jul 27 at 6:25AM
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 offering comprises a historic 36,691 SF building on a 20,000 SF lot, along with an adjacent 10,000 SF lot with 29 parking spaces, totaling 30,000 SF of land area. Located in the Nob Hill/Alphabet District of Northwest Downtown Portland, the property is situated near Trimet transit, shopping, restaurants, housing developments, and parks, and is blocks from NW Burnside, Alphabet District shopping, the Multnomah Athletic Club, and Providence Park. The CM2 zoning allows for a 4 to 1 max FAR with bonus and a 55' max height with bonus, presenting a value-add opportunity for various uses including office (corporate headquarters, creative multi-tenant, architect/advertising), event space, retail, restaurant, hotel, religious, and educational purposes. The building is designated as URM (Unreinforced Masonry).
Key Highlights
- Prime location in Historic Nob Hill/Alphabet District, NW Portland, near Pearl and CBD.
- Significant value‑add/development opportunity with CM2 zoning allowing for diverse uses.
- Total land area of 30,000 SF, including a 36,691 SF building on a 20,000 SF lot and an adjacent 10,000 SF lot.
Financial Insights For 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 | $660.4k | $18.00 |
| − Vacancy | −$49.5k | −$1.35 |
| EGI | $610.9k | $16.65 |
| − OpEx | −$183.3k | −$5.00 |
| NOI | $427.6k | $11.66 |
36,691 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$7.08M
$6.19M – $8.26M
NOI $495,329 @ 7.0% cap · market cap 9.43%
Second Best
Retail
$6.11M
$5.35M – $7.13M
NOI $427,634 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$10.30M
$9.02M – $12.02M
NOI $721,262 @ 7.0% cap · market cap 13.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
GNC Ministries
Church
parking
Parking Lot & Garage
birthday parties
High School
Community & Parents-Public
Association Or Organization
FAQs
What type of property is this?
Mixed-use property - Historic Northwest Portland building with adjacent lot for development.
Where is this mixed-use property located?
The property is located at 1819 NW Everett Street Portland, OR.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Prime location in Historic Nob Hill/Alphabet District, NW Portland, near Pearl and CBD.; Significant value‑add/development opportunity with CM2 zoning allowing for diverse uses.; Total land area of 30,000 SF, including a 36,691 SF building on a 20,000 SF lot and an adjacent 10,000 SF lot.
