Food Truck Ready Restaurant
For Sale
Contact for pricing
3137-3139 & 3211 NE 82nd Avenue, Portland, OR 97220
Fully leased NNN property with an equipped production kitchen, office/retail/storage building, and parking for roughly 25 spaces.
Property Size6,310 SF
Lot Size0.53 Acres
Price / SF$409.19
Days on Market1697
Property Features for 3137-3139 & 3211 NE 82nd Avenue
General Information
Standard status
Active
Size
6,310 SF
Total Parking Spaces
25
Lot size
0.53 Acres
Property subtype
Retail, Industrial
Zoning
CM2
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$208,002
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1951
Year Renovated
2018
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
North Rim Commercial Properties
Listed By:
Matt Schweitzer · License #940600121
Source:
Crexi
Added: Jan 24, 2022
Changed: Sep 7
Last Checked: Sep 16 at 3:28PM
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 North Rim Commercial Properties
Investment Insights
Based on property information with market context.
This fully leased NNN investment includes a two-suite office/retail/storage building and a single-tenant, equipped commercial production kitchen. The site is set up with utilities and dining space designed for three food trucks, supporting an on-site food and service layout.
The property is located on NE 82nd Avenue in Portland, near Leodis V. McDaniel High School. It sits on a 0.53-acre lot and offers approximately +/-25 parking spaces to serve the food truck and dining area.
With a combination of office/retail/storage suites and a dedicated production kitchen under one roofline, the configuration is suited for food operations that require both back-of-house production and adjacent workspace.
The property is located on NE 82nd Avenue in Portland, near Leodis V. McDaniel High School. It sits on a 0.53-acre lot and offers approximately +/-25 parking spaces to serve the food truck and dining area.
With a combination of office/retail/storage suites and a dedicated production kitchen under one roofline, the configuration is suited for food operations that require both back-of-house production and adjacent workspace.
Key Highlights
- Fully leased NNN commercial investment near NE 82nd Avenue
- Approximately 6,310 rentable SF across a 2‑suite office/retail/storage building plus a single‑tenant equipped production kitchen
- Single‑tenant commercial production kitchen included
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
$84,958
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
3.29%
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%
$1,699,160
$1.7M
Cap Rate 7%
$1,213,686
$1.2M
Cap Rate 9%
$943,978
$944.0K
Market Conditions
NOI Build-Up for 6,310 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
$121.2K $19.20/SF
− Vacancy
−$7.9K −$1.25/SF
EGI
$113.3K $17.95/SF
− OpEx
−$28.3K −$4.49/SF
NOI
$85.0K $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%
$1,699,160
Cap Rate 7%
$1,213,686
Cap Rate 9%
$943,978
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.42M
NOI $84,958 @ 7.0% cap · market cap 3.29%
Second Best
Retail
$1.05M
$919.3K – $1.23M
NOI $73,543 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,040 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fully leased NNN property with an equipped production kitchen, office/retail/storage building, and parking for roughly 25 spaces.
Where is this nnn property located?
The property is located at 3137-3139 & 3211 NE 82nd Avenue Portland, OR.
What is the asking price?
The asking price for this property is $2,582,000.
What are key features of this property?
This property features: Fully leased NNN commercial investment near NE 82nd Avenue; Approximately 6,310 rentable SF across a 2‑suite office/retail/storage building plus a single‑tenant equipped production kitchen; Single‑tenant commercial production kitchen included
