Permit Ready Development
For Sale
$5,000,000
306 SE 8th Ave, Portland, OR 97214
144-unit mixed-use development site in SE Portland's Buckman neighborhood.
Property Size19,088 SF
Lot Size0.44 Acres
Price / SF$261.94
Days on Market206
Property Features for 306 SE 8th Ave
General Information
Standard status
Active
Size
19,088 SF
Lot size
0.44 Acres
Property subtype
Land
Listing Agency:
Capacity Commercial Group
(503) 222-2655
Listed By:
Nicholas Diamond · License #OR #200403266
Source:
Corfac
Added: Jan 26
Changed: Aug 19
Last Checked: Aug 20 at 4:23AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This is a permit-ready development site located in the Buckman neighborhood of SE Portland. The property is a fully entitled development opportunity for 144 units, with a mix of studio, one-bedroom, and two-bedroom units. The conceptual mixed-use building is planned to be seven stories and include 3,255 square feet of commercial space. The building gross area is 109,586 square feet, plus 5,659 square feet of amenity space. The gross land area is 19,088 square feet. The property includes vested pre-inclusionary zoning and is located within an Opportunity Zone. Select apartment units will include walk-in closets and balconies with views of the Willamette River, Mt. Hood, and Downtown Portland. The building includes a resident lounge and fitness room with an outdoor amenity deck. There are 26 garage stacking spaces for parking. The property is near notable Portland developments including Soho House, Grand Stark Hotel, District Office and Modera Belmont. It is within walking distance to the TriMet Bus Lines and within the Portland Streetcar Loops A & B. The property is located on the corner of SE 8th Ave and SE Pine Street.
Key Highlights
- Permit‑ready development site in SE Portland's Buckman neighborhood.
- 144‑unit mixed‑use development opportunity with studio, 1 & 2 bedroom units.
- Includes vested pre‑inclusionary zoning and located within an Opportunity Zone.
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
$257,688
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
5.15%
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%
$5,153,760
$5.2M
Cap Rate 7%
$3,681,257
$3.7M
Cap Rate 9%
$2,863,200
$2.9M
Market Conditions
NOI Build-Up for 19,088 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
$458.1K $24.00/SF
− Vacancy
−$45.8K −$2.40/SF
EGI
$412.3K $21.60/SF
− OpEx
−$154.6K −$8.10/SF
NOI
$257.7K $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%
$5,153,760
Cap Rate 7%
$3,681,257
Cap Rate 9%
$2,863,200
Alternative Uses
Best Use
Mixed Use
$3.68M
$3.22M – $4.29M
NOI $257,688 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.36M
$4.69M – $6.25M
NOI $375,227 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,828
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 144-unit mixed-use development site in SE Portland's Buckman neighborhood.
Where is this commercial land located?
The property is located at 306 SE 8th Ave Portland, OR.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Permit‑ready development site in SE Portland's Buckman neighborhood.; 144‑unit mixed‑use development opportunity with studio, 1 & 2 bedroom units.; Includes vested pre‑inclusionary zoning and located within an Opportunity Zone.
