Versatile Mixed-Use Property For
For Sale
$399,000
2901 SE 122ND, Portland, OR 97236
Charming property with flexible space, ideal for live/work setup.
Property Size2,282 SF
Price / SF$174.85
Days on Market537
Property Features for 2901 SE 122ND
General Information
Standard status
Active
Size
2,282 SF
Taxes and HOA fees
Annual Taxes
$4,818
Building Details
Year Built
1951
Listing Agency:
HOMETRUST REAL ESTATE
Listed By:
JASMINE PHAM
Source:
Corcoran
Added: May 1, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 HOMETRUST REAL ESTATE
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Investment Insights
Based on property information with market context.
This versatile property features a main level and a basement with both interior and exterior entrances, offering abundant space, flexibility, and functionality. The main level includes 2 bedrooms and a roll-in shower. The basement adds even more value with a full bathroom, family room, and ample storage space. A standout feature is the detached garage space, approximately 665 sqft, with a bathroom. Located on a high-exposure corner lot, this property benefits from excellent visibility, street parking, and proximity to local amenities and major routes. This property is zoned CM2 and is suitable for a live/work setup, an investment opportunity, or a space to customize and grow. The property size is 2282 sqft.
Key Highlights
- Detached 665 sqft garage with bathroom, suitable for home office or business.
- Basement with interior/exterior entrances, full bathroom, family room, and ample storage.
- High‑exposure corner lot with excellent visibility and street parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,807
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,140
$616.1K
Cap Rate 7%
$440,100
$440.1K
Cap Rate 9%
$342,300
$342.3K
Market Conditions
NOI Build-Up for 2,282 SF
Gross rent
$54.8K $24.00/SF
− Vacancy
−$5.5K −$2.40/SF
EGI
$49.3K $21.60/SF
− OpEx
−$18.5K −$8.10/SF
NOI
$30.8K $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%
$616,140
Cap Rate 7%
$440,100
Cap Rate 9%
$342,300
Alternative Uses
Best Use
Mixed Use
$440.1K
$385.1K – $513.5K
NOI $30,807 @ 7.0% cap · market cap 7.72%
Second Best
Office B
$422.0K
$369.3K – $492.3K
NOI $29,540 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$640.8K
$560.7K – $747.7K
NOI $44,859 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
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Business Placement
Demographics for 97236, OR
40,193
Population
13,736
Households
2.9
Avg Household Size
36
Median Age
21%
College-Educated
81%
High-School Grad
7.7 sq mi
ZIP Area
5,220
Density / Sq Mi
$68,582
Median Household Income
$38,131
Median Earnings
$1,436
Median Rent
$414,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Mixed-use property - Charming property with flexible space, ideal for live/work setup.
Where is this mixed-use property located?
The property is located at 2901 SE 122ND Portland, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Detached 665 sqft garage with bathroom, suitable for home office or business.; Basement with interior/exterior entrances, full bathroom, family room, and ample storage.; High‑exposure corner lot with excellent visibility and street parking.
