Drive-Through Subway
3103 Northeast 82nd Avenue Portland, OR 97213
New
3103 Northeast 82nd Avenue, Portland, OR, 97213
$790,000
For Sale
$790,000
Single-tenant drive-through restaurant leased to Subway under an NNN structure with a lease expiring February 28, 2027.
Property Size1,853 SF
Price / SF$426.34
Days on Market1
Property Features for 3103 Northeast 82nd Avenue
General Information
- Standard status
- Active
- Size
- 1,853 SF
- Property subtype
- Retail
Listing Agency
CBRE | Portland
(503) 221-4868
Listed by
Eleanor Aschoff
(503) 221-4868
Source
Cbre
Added: Jul 18 Checked: Jul 18 at 2:54 am
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 single-tenant restaurant property is leased to a franchised Subway location that has occupied the building since 2010. The building operates under an NNN lease with 3% annual increases. The current lease term is set to expire February 28, 2027, with a five-year option scheduled to be exercised in August of 2026 at FMV.
The restaurant includes a drive-through and is positioned at the high-profile intersection of 82nd Avenue and Siskyou Street in Portland, Oregon. The site is within an Opportunity Zone and is directly across from Glenhaven Park, a 15-acre recreational hub, and McDaniel High School, which has a student body of 1,650. The property is also supported by an estimated daily traffic count of approximately 26,000 vehicles.
The surrounding trade area includes more than 150,000 residents within a three-mile radius, providing a strong local base for a national brand in a corner, high-visibility setting.
The restaurant includes a drive-through and is positioned at the high-profile intersection of 82nd Avenue and Siskyou Street in Portland, Oregon. The site is within an Opportunity Zone and is directly across from Glenhaven Park, a 15-acre recreational hub, and McDaniel High School, which has a student body of 1,650. The property is also supported by an estimated daily traffic count of approximately 26,000 vehicles.
The surrounding trade area includes more than 150,000 residents within a three-mile radius, providing a strong local base for a national brand in a corner, high-visibility setting.
Key Highlights
- Single‑tenant drive‑through restaurant leased to Subway under an NNN structure
- Lease expires February 28, 2027; Subway has occupied the building since 2010
- NNN lease includes 3% annual increases
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.6k | $19.20 |
| − Vacancy | −$2.3k | −$1.25 |
| EGI | $33.3k | $17.95 |
| − OpEx | −$8.3k | −$4.49 |
| NOI | $24.9k | $13.46 |
1,853 SF · lease $19.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$356.4K
$311.9K – $415.8K
NOI $24,949 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$520.4K
$455.3K – $607.1K
NOI $36,426 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Subway
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Single-tenant drive-through restaurant leased to Subway under an NNN structure with a lease expiring February 28, 2027.
Where is this drive through restaurant located?
The property is located at 3103 Northeast 82nd Avenue Portland, OR.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Single‑tenant drive‑through restaurant leased to Subway under an NNN structure; Lease expires February 28, 2027; Subway has occupied the building since 2010; NNN lease includes 3% annual increases
