Mixed-Use Urban Farm
For Sale
$1,025,000
3122 N Williams Avenue, Portland, OR 97227
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$259.56
Days on Market365
Property Features for 3122 N Williams Avenue
General Information
Standard status
Active
Size
3,949 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1907
Tenancy
Multi
Listing Agency:
Alternative Realty
Listed By:
Shelley Zucker
(541) 726-0400
Source:
Century21northhomes
Added: Oct 21, 2025
Changed: Oct 20
Last Checked: Oct 19 at 9:27AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,032
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,100,640
$1.1M
Cap Rate 7%
$786,171
$786.2K
Cap Rate 9%
$611,467
$611.5K
Market Conditions
NOI Build-Up for 3,949 SF
Gross rent
$82.9K $21.00/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$78.6K $19.91/SF
− OpEx
−$23.6K −$5.97/SF
NOI
$55.0K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,100,640
Cap Rate 7%
$786,171
Cap Rate 9%
$611,467
Alternative Uses
Best Use
Multifamily LT 5
$786.2K
$687.9K – $917.2K
NOI $55,032 @ 7.0% cap · market cap 5.37%
Second Best
Mixed Use
$761.6K
$666.4K – $888.5K
NOI $53,312 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$1.11M
$970.4K – $1.29M
NOI $77,628 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,080
Businesses Nearby
Explore this area
Business Placement
Demographics for 97227, OR
6,058
Population
3,835
Households
1.6
Avg Household Size
35
Median Age
60%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
4,327
Density / Sq Mi
$79,161
Median Household Income
$56,098
Median Earnings
$1,609
Median Rent
$595,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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 $1,025,000.
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
