Alberta Arts District Commercial
For Sale
$1,399,999
2812 NE ALBERTA, Portland, OR 97211
Large commercial property in Portland's vibrant Alberta Arts District.
Property Size3,800 SF
Lot Size0.18 Acres
Price / SF$368.42
Days on Market160
Property Features for 2812 NE ALBERTA
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.18 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$521
Amenities
Composition Roof
Off Street
Building Details
Year Built
1907
Listing Agency:
UNIQUE REALT
(503) 740-0259
Listed By:
DENNIS KVIZ
Source:
Corcoran
Added: Mar 13
Changed: Aug 17
Last Checked: Aug 19 at 9:15AM
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 UNIQUE REALT
Investment Insights
Based on property information with market context.
This commercial property is located in the Alberta Arts District of Portland. The open-span shell features 20-foot ceilings and a 90' x 41' footprint. It offers flexibility for a variety of uses, including retail, office, or food and beverage concepts such as a brewery or restaurant. The property is located on a corner lot with 116 feet of frontage on Alberta Street, providing visibility and foot traffic. The property is zoned CM2. Potential highest and best use includes mixed-use development with residential units above retail, office, or food and beverage.
Key Highlights
- Prime Alberta Arts District location with 116 feet of frontage on Alberta Street.
- Large, open‑span commercial space (90' x 41') with 20‑foot ceilings.
- CM2 zoning allows for mixed‑use development.
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
$44,289
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
3.16%
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%
$885,780
$885.8K
Cap Rate 7%
$632,700
$632.7K
Cap Rate 9%
$492,100
$492.1K
Market Conditions
NOI Build-Up for 3,800 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
$68.4K $18.00/SF
− Vacancy
−$5.1K −$1.35/SF
EGI
$63.3K $16.65/SF
− OpEx
−$19.0K −$5.00/SF
NOI
$44.3K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$885,780
Cap Rate 7%
$632,700
Cap Rate 9%
$492,100
Alternative Uses
Best Use
Retail
$632.7K
$553.6K – $738.2K
NOI $44,289 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$933.7K – $1.24M
NOI $74,699 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Large commercial property in Portland's vibrant Alberta Arts District.
Where is this retail space located?
The property is located at 2812 NE ALBERTA Portland, OR.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: Prime Alberta Arts District location with **116 feet of frontage on Alberta Street**.; Large, **open‑span commercial space (90' x 41') with 20‑foot ceilings**.; CM2 zoning allows for mixed‑use development.
