Mixed-Use Commercial
For Sale
$1,399,999
2812 NE ALBERTA St, Portland, OR 97211
CommercialSale, Portland, OR
Property Size3,700 SF
Lot Size0.18 Acres
Price / SF$378.38
Days on Market167
Property Features for 2812 NE ALBERTA St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM2
Directions
NE Alberta and NE 28th
Subdivision
_142
Standard status
Active
APN
R155475
Size
3,700 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
ELBERTA, BLOCK 3, LOT 1, N 33' OF LOT 2
Tax Annual Amount
521
Legal Description
ELBERTA, BLOCK 3, LOT 1, N 33' OF LOT 2
Building Details
Year built
1907
Floors in Building
1
Building materials
CementSiding, LapSiding, WoodFrame
Roof type
Composition
Listing Agency:
UNIQUE REALT
(503) 740-0259
Listed By:
Dennis Kviz
(503) 318-1988
Added: Mar 13
Changed: May 30
Last Checked: Aug 26 at 4:06AM
MLS# 501275481
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 mixed-use commercial property contains a 3,700-square-foot open-span shell with 20-foot ceilings and a 90' x 41' footprint. Built in 1907, the building uses cement siding, lap siding, and wood-frame construction beneath a composition roof. The property occupies a 0.18-acre corner lot and is zoned CM2.
Located on NE Alberta Street in Portland, the site provides 116 feet of frontage along Alberta Street. Potential concepts identified for the property include mixed-use development with residential units above retail, office, or food-and-beverage space, including brewery or restaurant uses.
Located on NE Alberta Street in Portland, the site provides 116 feet of frontage along Alberta Street. Potential concepts identified for the property include mixed-use development with residential units above retail, office, or food-and-beverage space, including brewery or restaurant uses.
Key Highlights
- 3,700‑square‑foot open‑span commercial shell
- 20‑foot ceiling height and 90' x 41' footprint
- 0.18‑acre corner lot with 116 feet of Alberta Street frontage
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
$49,950
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
3.57%
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%
$999,000
$999.0K
Cap Rate 7%
$713,571
$713.6K
Cap Rate 9%
$555,000
$555.0K
Market Conditions
NOI Build-Up for 3,700 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
$88.8K $24.00/SF
− Vacancy
−$8.9K −$2.40/SF
EGI
$79.9K $21.60/SF
− OpEx
−$30.0K −$8.10/SF
NOI
$50.0K $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%
$999,000
Cap Rate 7%
$713,571
Cap Rate 9%
$555,000
Alternative Uses
Best Use
Mixed Use
$713.6K
$624.4K – $832.5K
NOI $49,950 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$616.1K
$539.1K – $718.7K
NOI $43,124 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$1.04M
$909.2K – $1.21M
NOI $72,734 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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?
Mixed-use property - Open-span interior provides a flexible commercial layout for a range of business configurations.
Where is this mixed-use property located?
The property is located at 2812 NE ALBERTA St 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: 3,700‑square‑foot open‑span commercial shell; 20‑foot ceiling height and 90' x 41' footprint; 0.18‑acre corner lot with 116 feet of Alberta Street frontage
