Mixed-Use Property with Four
For Sale
$760,000
3020 NE GLISAN ST, Portland, OR 97232
Fully leased commercial space complements four residential studios in a vertically integrated mixed-use configuration.
Property Size4,326 SF
Days on Market8
Property Features for 3020 NE GLISAN ST
General Information
Standard status
Active
Size
4,326 SF
Class
Class C
Property subtype
MULTI_FAMILY
Zoning
CM2
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x studio
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,608
Building Details
Building Size
4,326 SF
Year Built
1925
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
ELEETE Real Estate
(503) 468-4018
Listed By:
Lee Davies · License #851200114
(503) 468-4018
Source:
Eleeterealestate
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 11:02AM
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 ELEETE Real Estate
Investment Insights
Based on property information with market context.
Built in 1925, this mixed-use property combines four residential studio units with a ground-floor commercial space. The studios range from approx. 550-640 sq. ft. and include hardwood and tile flooring, gas ranges, and refrigerators. Residential occupancy is 100%, with updated rent rolls supporting the existing income profile.
The approximately 1,953-square-foot commercial premises are occupied by Brassworks Gallery under a modified-gross lease extending through 2030. The space fronts NE Glisan Street near NE 30th and provides street-level exposure. CM2 zoning supports the property’s mixed-use classification, while nearby access to I-84, TriMet, the Lloyd District, Broadway, and Providence Medical Center places the asset within an established inner Northeast Portland employment and service area.
The approximately 1,953-square-foot commercial premises are occupied by Brassworks Gallery under a modified-gross lease extending through 2030. The space fronts NE Glisan Street near NE 30th and provides street-level exposure. CM2 zoning supports the property’s mixed-use classification, while nearby access to I-84, TriMet, the Lloyd District, Broadway, and Providence Medical Center places the asset within an established inner Northeast Portland employment and service area.
Key Highlights
- Four residential studio units with 100% occupancy
- Studio units range from approx. 550‑640 sq. ft.
- Approximately 1,953 sq. ft. of ground‑floor commercial space
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
$58,401
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
7.68%
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%
$1,168,020
$1.2M
Cap Rate 7%
$834,300
$834.3K
Cap Rate 9%
$648,900
$648.9K
Market Conditions
NOI Build-Up for 4,326 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
$103.8K $24.00/SF
− Vacancy
−$10.4K −$2.40/SF
EGI
$93.4K $21.60/SF
− OpEx
−$35.0K −$8.10/SF
NOI
$58.4K $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 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%
$1,168,020
Cap Rate 7%
$834,300
Cap Rate 9%
$648,900
Alternative Uses
Best Use
Mixed Use
$834.3K
$730.0K – $973.4K
NOI $58,401 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$793.5K
$694.3K – $925.8K
NOI $55,546 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,039 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,379
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased commercial space complements four residential studios in a vertically integrated mixed-use configuration.
Where is this mixed-use property located?
The property is located at 3020 NE GLISAN ST Portland, OR.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Four residential studio units with 100% occupancy; Studio units range from approx. 550‑640 sq. ft.; Approximately 1,953 sq. ft. of ground‑floor commercial space
