Mixed-Use Property with Detached
For Sale
$499,900
2020 NE 102ND Ave, Portland, OR 97220
CommercialSale, Portland, OR
Property Size2,758 SF
Lot Size0.29 Acres
Price / SF$181.25
Days on Market214
Property Features for 2020 NE 102ND Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R2
Directions
NE Halsey to NE 102nd, turn north to address on east side of street
Subdivision
_142
Standard status
Active
APN
R318870
Size
2,758 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
SECTION 27 1N 2E, TL 4000 0.29 ACRES
Legal Description
SECTION 27 1N 2E, TL 4000 0.29 ACRES
Utilities
Heating system
Forced Air
Cooling system
Heat Pump
Building Details
Year built
1946
Building materials
FullBasement, Stucco
Roof type
Composition
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Jonathan Kennedy · License #990500137
(503) 705-7176
Added: Mar 4
Changed: Oct 2
Last Checked: Oct 4 at 6:06PM
MLS# 782900593
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.
This 2,758-square-foot mixed-use property sits on a 0.29-acre lot and was built in 1946. The main level is currently used as office space, with a living unit and usable basement also on the property. Each has a separate entrance, and the areas can be reconnected. The building has a full basement, stucco exterior, forced-air heating, and heat-pump cooling.
On-site parking is available, along with a detached garage that accommodates four cars and provides additional storage. The property is currently occupied by a nonprofit organization.
On-site parking is available, along with a detached garage that accommodates four cars and provides additional storage. The property is currently occupied by a nonprofit organization.
Key Highlights
- 2,758 square feet on a 0.29‑acre lot
- Main level currently configured for office use
- Separate‑entry living unit and usable basement
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
$37,233
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
7.45%
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%
$744,660
$744.7K
Cap Rate 7%
$531,900
$531.9K
Cap Rate 9%
$413,700
$413.7K
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
$66.2K $24.00/SF
− Vacancy
−$6.6K −$2.40/SF
EGI
$59.6K $21.60/SF
− OpEx
−$22.3K −$8.10/SF
NOI
$37.2K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$744,660
Cap Rate 7%
$531,900
Cap Rate 9%
$413,700
Alternative Uses
Best Use
Mixed Use
$531.9K
$465.4K – $620.6K
NOI $37,233 @ 7.0% cap · market cap 7.45%
Second Best
Office B
$510.0K
$446.3K – $595.0K
NOI $35,701 @ 7.0% cap · market cap 7.14%
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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-entry living unit, usable basement, and on-site parking support a flexible existing configuration.
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: 2,758 square feet on a 0.29‑acre lot; Main level currently configured for office use; Separate‑entry living unit and usable basement
