Mixed-Use Building with Restaurant
New
For Sale
$480,995
2809 NE BROADWAY, Portland, OR 97232
The property combines a former podiatry office with an adjoining restaurant area and five front parking spaces.
Property Size2,240 SF
Price / SF$214.73
Days on Market4
Property Features for 2809 NE BROADWAY
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
5
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,909
Amenities
Forced Air Heating
Off Street
Building Details
Year Built
1970
Listing Agency:
LIZC REAL ESTATE INVESTMENTS
(503) 314-6498
Listed By:
ELIZABETH CARPENTER
Source:
Corcoran
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 2:31PM
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 LIZC REAL ESTATE INVESTMENTS
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Investment Insights
Based on property information with market context.
This 2,240-square-foot mixed-use building, constructed in 1970, contains a former podiatry clinic and an adjoining area planned for restaurant use. Restaurant equipment and other materials remain in that space; the former clinic area includes office furniture, tables, and cabinets. Five parking spaces are positioned in front of the office. The property is offered in its current condition, with no repairs planned by the seller.
Located in Portland’s Grant Park neighborhood, the building has public transportation directly in front. It is a few blocks from a Fred Meyer Supercenter and has access to three interstate connections. Nearby businesses include restaurants, retail shops, services, and nightlife.
Located in Portland’s Grant Park neighborhood, the building has public transportation directly in front. It is a few blocks from a Fred Meyer Supercenter and has access to three interstate connections. Nearby businesses include restaurants, retail shops, services, and nightlife.
Key Highlights
- 2,240‑square‑foot mixed‑use building, built in 1970
- Former podiatry office with adjoining restaurant area
- Restaurant equipment and materials remain in the restaurant area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,643
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,860
$652.9K
Cap Rate 7%
$466,329
$466.3K
Cap Rate 9%
$362,700
$362.7K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$59.1K $26.40/SF
− Vacancy
−$4.7K −$2.11/SF
EGI
$54.4K $24.29/SF
− OpEx
−$21.8K −$9.72/SF
NOI
$32.6K $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 Rate 5%
$652,860
Cap Rate 7%
$466,329
Cap Rate 9%
$362,700
Alternative Uses
Best Use
Healthcare Medical
$466.3K
$408.0K – $544.1K
NOI $32,643 @ 7.0% cap · market cap 6.79%
Second Best
Mixed Use
$432.0K
$378.0K – $504.0K
NOI $30,240 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$629.0K
$550.4K – $733.9K
NOI $44,033 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a former podiatry office with an adjoining restaurant area and five front parking spaces.
Where is this mixed-use property located?
The property is located at 2809 NE BROADWAY Portland, OR.
What is the asking price?
The asking price for this property is $480,995.
What are key features of this property?
This property features: 2,240‑square‑foot mixed‑use building, built in 1970; Former podiatry office with adjoining restaurant area; Restaurant equipment and materials remain in the restaurant area
