Historic Building with Development
For Sale
$5,250,000
1819 NW Everett Street, Portland, OR 97209
Historic Northwest Portland building with adjacent lot for development.
Property Size36,691 SF
Lot Size0.69 Acres
Price / SF$143.09
Days on Market273
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
Site & Location
Neighborhood
Northwest District Association
Building Details
Building Size
36,691 SF
Year Built
1910
Listing Agency:
Capacity Commercial Group
Listed By:
Nicholas Diamond · License #OR #200403266
(503) 222-2655
Source:
Capacitycommercial
Added: Jan 26
Changed: Oct 25
Last Checked: Oct 24 at 3:50PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$427,634
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,552,680
$8.6M
Cap Rate 7%
$6,109,057
$6.1M
Cap Rate 9%
$4,751,489
$4.8M
Market Conditions
NOI Build-Up for 36,691 SF
Gross rent
$660.4K $18.00/SF
− Vacancy
−$49.5K −$1.35/SF
EGI
$610.9K $16.65/SF
− OpEx
−$183.3K −$5.00/SF
NOI
$427.6K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,552,680
Cap Rate 7%
$6,109,057
Cap Rate 9%
$4,751,489
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
10,250
Businesses Nearby
Explore this area
Business Placement
Demographics for 97209, OR
22,755
Population
16,437
Households
1.4
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
1.0 sq mi
ZIP Area
22,755
Density / Sq Mi
$84,059
Median Household Income
$68,731
Median Earnings
$1,669
Median Rent
$573,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Portland, OR
Frequently Asked Questions
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.
