Listing Agency: NAI Elliott Show Phone

Listed By: Justin Darling Show Phone

Source: Moodyscre

Added: Jul 8 Changed: Oct 7 Last Checked: Oct 16 at 9:09AM

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Investment Insights

Based on property information with market context.

This single-story mixed-use property contains 8,400 SF, combining the 1,592 SF Gorges craft brewery and taproom with 6,808 SF of vacant office space. The office component includes an open layout, polished concrete flooring, substantial natural light, a large break area, multiple finished restrooms, and a furnished conference room set up for video conferencing.

The property is located in Ankeny Rainbow Road Plaza near SE 28th and Burnside in Portland. The surrounding corridor includes dining, coffee, boutiques, nightlife, walkable amenities, transit access, and creative and professional businesses. The office area represents 81% of the building, providing a substantial workplace component alongside the brewery and taproom.

Key Highlights

• 8,400 SF single‑story mixed‑use property
• 1,592 SF Gorges craft brewery and taproom
• 6,808 SF vacant office component

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$113,400

Cap Rate

3.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,268,000 $2.3M

Cap Rate 7%

$1,620,000 $1.6M

Cap Rate 9%

$1,260,000 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,400 SF

Gross rent

$201.6K $24.00/SF

− Vacancy

−$20.2K −$2.40/SF

EGI

$181.4K $21.60/SF

− OpEx

−$68.0K −$8.10/SF

NOI

$113.4K $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 Rate 5%

$2,268,000

Cap Rate 7%

$1,620,000

Cap Rate 9%

$1,260,000

Alternative Uses

Best Use

Mixed Use

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,400 @ 7.0% cap · market cap 3.75%

Second Best

Office B

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,735 @ 7.0% cap · market cap 3.59%

Theoretical Best

Office A

$2.36M

$2.06M – $2.75M (±1% cap)

NOI $165,125 @ 7.0% cap · market cap 5.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Gorges Beer Co. Production Facility Table Topics Inc Marketing & Advertising Regal Printing Marketing & Advertising

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Tanning Salon Clothing & Fashion Store Pet Grooming Service Adult Day Care Supermarket

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,802

Businesses Nearby

Explore this area Business Placement

Demographics for 97214, OR

28,403

Population

15,948

Households

1.8

Avg Household Size

36

Median Age

67%

College-Educated

98%

High-School Grad

2.9 sq mi

ZIP Area

9,794

Density / Sq Mi

$86,879

Median Household Income

$55,643

Median Earnings

$1,628

Median Rent

$733,200

Median Home Value

Market

Vacancy Rate% for Office in Portland, OR

10.1% 2019

12.3% 2020

16.1% 2021

18.5% 2022

20.8% 2023

21.7% 2024

24.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Craft brewery and taproom complement a finished office component with open-plan workspace and conference facilities.

Where is this mixed-use property located?

The property is located at 2705 SE Ankeny St Portland, OR.

What is the asking price?

The asking price for this property is $3,025,000.

What are key features of this property?

This property features: 8,400 SF single‑story mixed‑use property; 1,592 SF Gorges craft brewery and taproom; 6,808 SF vacant office component