Mixed-Use Urban Farm
3122 N Williams Avenue Portland, OR 97227
3122 N Williams Avenue, Portland, OR, 97227
$1,175,000
For Sale
$1,175,000
Two tax lots offer a leased ground-floor bar space above two duplex residential units and an undeveloped urban-farm corner lot.
Property Size3,949 SF
Price / SF$297.54
Days on Market326
Property Features for 3122 N Williams Avenue
General Information
- Standard status
- Active
- Size
- 3,949 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1907
Listing agency
Alternative Realty
Listed by
Shelley Zucker
(877) 319-7625
Source
Century21northhomes
Added: Aug 30, 2025 Updated: Jul 10 at 1:48PM Checked: Jul 20 at 5:37AM
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 Alternative Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes two tax lots. Tax lot R308691 (0.09 acres) features a ground-level storefront/retail space currently leased as a bar, along with an upper residential duplex containing two spacious two-bedroom units. Unit B has a possible third bedroom, providing flexibility for renters and layouts.
Adjacent tax lot R308690 (0.07 acres) is an undeveloped corner lot. The parcel carries an agricultural tax exemption based on current use as Fargo Forest, described as an urban farm and education space. A development package and floor plans are available for review.
The combination of income-generating ground-floor retail and residential duplex space with additional adjacent land creates a practical setup for an owner-occupant or development-minded buyer. The property is being sold as part of a coordinated offering across both lots, and prospective parties are instructed not to disturb tenants or walk the property.
Adjacent tax lot R308690 (0.07 acres) is an undeveloped corner lot. The parcel carries an agricultural tax exemption based on current use as Fargo Forest, described as an urban farm and education space. A development package and floor plans are available for review.
The combination of income-generating ground-floor retail and residential duplex space with additional adjacent land creates a practical setup for an owner-occupant or development-minded buyer. The property is being sold as part of a coordinated offering across both lots, and prospective parties are instructed not to disturb tenants or walk the property.
Key Highlights
- Built in 1907 building with leased ground‑floor retail bar space and two residential duplex units above
- Two tax lots included: R308691 (.09 acres) with storefront/retail plus upper 2‑bedroom duplex units
- Possible 3rd bedroom in unit B within the duplex residential configuration
Local Financial Insights For Multifamily LT 5
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 | $82.9k | $21.00 |
| − Vacancy | −$4.3k | −$1.09 |
| EGI | $78.6k | $19.91 |
| − OpEx | −$23.6k | −$5.97 |
| NOI | $55.0k | $13.94 |
3,949 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$786.2K
$687.9K – $917.2K
NOI $55,032 @ 7.0% cap · market cap 4.68%
Second Best
Mixed Use
$761.6K
$666.4K – $888.5K
NOI $53,312 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.11M
$970.4K – $1.29M
NOI $77,628 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two tax lots offer a leased ground-floor bar space above two duplex residential units and an undeveloped urban-farm corner lot.
Where is this mixed-use property located?
The property is located at 3122 N Williams Avenue Portland, OR.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Built in 1907 building with leased ground‑floor retail bar space and two residential duplex units above; Two tax lots included: R308691 (.09 acres) with storefront/retail plus upper 2‑bedroom duplex units; Possible 3rd bedroom in unit B within the duplex residential configuration
