Montavilla Live-Work Space For
For Sale
$495,000
Pending
206 NE 80TH, Portland, OR 97213
Versatile live-work space in Montavilla with high-end finishes.
Property Size1,205 SF
Days on Market159
Property Features for 206 NE 80TH
General Information
Standard status
Pending
Size
1,205 SF
Property subtype
Commercial
Building Details
Year Built
1904
Listing Agency:
MORE REALTY
(503) 353-6673
Listed By:
RENEE ESPINOSA
Source:
Corcoran
Added: Apr 2
Changed: Jul 10
Last Checked: Jul 23 at 7:43AM
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.
Located in the heart of Montavilla, this property, built in 1904, offers a versatile owner-occupied investment opportunity. The building retains its historic character with vaulted ceilings, hardwood floors, shiplap detailing, and expansive bay windows. Previously used as a kitchen design storefront, the space includes a high-end chef’s kitchen featuring a 36-inch gas range, built-in refrigerator, steam oven, quartz countertops, farmhouse and prep sinks, a custom designer-tiled backsplash, and soft-close cabinetry centered around an island with designer lighting. The residential wing features an open-concept one-bedroom and one-bathroom layout. The bedroom includes skylights and vaulted ceilings, with access to an ADA-accessible bathroom. A den serves as a back office or reading nook. There is a tall attic for storage and integrated workspaces with custom-built-in desks and cabinetry. The exterior includes a private, fenced backyard with a Trex deck, pavers, and turf. The property has undergone an extensive restoration, including updated plumbing, a new furnace and AC, mini-splits, a tankless water heater, blown-in insulation, and new roof gutters. The building is energy-efficient with a Home Energy Score of 8. This property is suitable for a live-work setup, boutique retail, or a creative studio. The location provides visibility and accessibility to your business. The property size is 1205 square feet.
Key Highlights
- Versatile live‑work space or retail opportunity in the heart of Montavilla with high visibility and walkability.
- High‑end chef's kitchen** with top‑of‑the‑line appliances, quartz countertops, and custom cabinetry.
- Extensive restoration with updated plumbing, new furnace and AC, tankless water heater, and energy‑efficient upgrades (Home Energy Score of 8).
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
$16,268
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
3.29%
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%
$325,360
$325.4K
Cap Rate 7%
$232,400
$232.4K
Cap Rate 9%
$180,756
$180.8K
Market Conditions
NOI Build-Up for 1,205 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
$28.9K $24.00/SF
− Vacancy
−$2.9K −$2.40/SF
EGI
$26.0K $21.60/SF
− OpEx
−$9.8K −$8.10/SF
NOI
$16.3K $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%
$325,360
Cap Rate 7%
$232,400
Cap Rate 9%
$180,756
Alternative Uses
Best Use
Mixed Use
$232.4K
$203.4K – $271.1K
NOI $16,268 @ 7.0% cap · market cap 3.29%
Second Best
Office B
$222.8K
$195.0K – $260.0K
NOI $15,598 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$338.4K
$296.1K – $394.8K
NOI $23,688 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
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?
Live-work space - Versatile live-work space in Montavilla with high-end finishes.
Where is this live-work space located?
The property is located at 206 NE 80TH Portland, OR.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Versatile live‑work space or retail opportunity in the heart of Montavilla with high visibility and walkability.; High‑end chef's kitchen** with top‑of‑the‑line appliances, quartz countertops, and custom cabinetry.; Extensive restoration with updated plumbing, new furnace and AC, tankless water heater, and energy‑efficient upgrades (Home Energy Score of 8).
