Mixed-Use Property with Detached
For Sale
$499,900
2020 NE 102nd Ave, Portland, OR 97220
Office space, a separate living unit, usable basement, detached garage, and on-site parking support flexible occupancy options.
Property Size2,758 SF
Price / SF$181.25
Days on Market42
Property Features for 2020 NE 102nd Ave
General Information
Standard status
Active
Size
2,758 SF
Total Parking Spaces
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1946
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Jonathan Kennedy · License #990500137
Source:
Rosecityrealtygroup
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:23AM
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 MORE Realty
Investment Insights
Based on property information with market context.
This mixed-use property was built in 1946 and is zoned for commercial and residential purposes. The main level is configured for office use, while a separate living unit and usable basement each have independent entries. The basement and living area can also be reconnected, creating additional flexibility within the existing layout. A detached garage accommodates four cars and includes extra storage, while additional parking is available on site.
The property is located at 2020 NE 102nd Ave in Portland, with highway access and heavy foot traffic identified in the property information. Its prior use was associated with an optometrist business, and its current use is by a nonprofit organization exempt from property tax. Buyer due diligence is required regarding allowable uses and potential changes to the configuration.
The property is located at 2020 NE 102nd Ave in Portland, with highway access and heavy foot traffic identified in the property information. Its prior use was associated with an optometrist business, and its current use is by a nonprofit organization exempt from property tax. Buyer due diligence is required regarding allowable uses and potential changes to the configuration.
Key Highlights
- Mixed‑use commercial/residential zoning
- Main‑level office configuration with separate living unit
- Usable basement and independent entries
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
$40,192
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
8.04%
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%
$803,840
$803.8K
Cap Rate 7%
$574,171
$574.2K
Cap Rate 9%
$446,578
$446.6K
Market Conditions
NOI Build-Up for 2,758 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
$72.8K $26.40/SF
− Vacancy
−$5.8K −$2.11/SF
EGI
$67.0K $24.29/SF
− OpEx
−$26.8K −$9.72/SF
NOI
$40.2K $14.57/SF
Area
Portland, OR
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$803,840
Cap Rate 7%
$574,171
Cap Rate 9%
$446,578
Alternative Uses
Best Use
Healthcare Medical
$574.2K
$502.4K – $669.9K
NOI $40,192 @ 7.0% cap · market cap 8.04%
Second Best
Mixed Use
$531.9K
$465.4K – $620.6K
NOI $37,233 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$774.5K
$677.7K – $903.6K
NOI $54,216 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office space, a separate living unit, usable basement, detached garage, and on-site parking support flexible occupancy options.
Where is this mixed-use property located?
The property is located at 2020 NE 102nd Ave Portland, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Mixed‑use commercial/residential zoning; Main‑level office configuration with separate living unit; Usable basement and independent entries
