Portland Retail with
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3103 82nd Ave NE, Portland, OR
NNN leased retail in dense residential Portland neighborhood.
Property Size1,849 SF
Lot Size0.34 Acres
Price / SF$418.23
Days on Market379
Property Features for 3103 82nd Ave NE
General Information
Standard status
Active
Size
1,849 SF
Lot size
0.34 Acres
Property subtype
RETAIL
Listing Agency:
CBRE | Portland
(503) 221-4850
Listed By:
Megan Wallachy · License #LIC.#980500024
(503) 221-4850
Source:
Moodyscre
Added: Aug 7, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:25AM
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 CBRE | Portland
Investment Insights
Based on property information with market context.
This 1,849 square foot retail property is located in a very dense residential neighborhood of Portland, Oregon, with more than 150,000 residents within a 3-mile radius. The property is positioned within an Opportunity Zone and is located approximately 0.25 miles north of McDaniel High School, which has an annual enrollment of 1,650 students. The property is NNN leased, with landlord expenses reimbursed and features 3% annual increases. The rents are below market for a single tenant net lease with a name-brand grandfathered drive-through.
Key Highlights
- Below Market Rents for STNL NNN with Name Brand Grandfathered Drive Through
- NNN Lease, Landlord Expenses Reimbursed
- 3% Annual Increases
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
$24,895
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
3.22%
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%
$497,900
$497.9K
Cap Rate 7%
$355,643
$355.6K
Cap Rate 9%
$276,611
$276.6K
Market Conditions
NOI Build-Up for 1,849 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
$35.5K $19.20/SF
− Vacancy
−$2.3K −$1.25/SF
EGI
$33.2K $17.95/SF
− OpEx
−$8.3K −$4.49/SF
NOI
$24.9K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$497,900
Cap Rate 7%
$355,643
Cap Rate 9%
$276,611
Alternative Uses
Best Use
Specialty Retail
$355.6K
$311.2K – $414.9K
NOI $24,895 @ 7.0% cap · market cap 3.22%
Second Best
Retail
$307.9K
$269.4K – $359.2K
NOI $21,550 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$519.2K
$454.3K – $605.8K
NOI $36,347 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - NNN leased retail in dense residential Portland neighborhood.
Where is this drive through restaurant located?
The property is located at 3103 82nd Ave NE Portland, OR.
What is the asking price?
The asking price for this property is $773,300.
What are key features of this property?
This property features: Below Market Rents for STNL NNN with Name Brand Grandfathered Drive Through; NNN Lease, Landlord Expenses Reimbursed; 3% Annual Increases
