Portland Central Eastside
For Sale
$5,625,000
317 SE Grand Ave & 407 SE Pine St, Portland, OR 97214
Combined 0.86 acre site in Portland's Central Eastside.
Property Size44,200 SF
Lot Size0.86 Acres
Price / SF$127.26
Days on Market105
Property Features for 317 SE Grand Ave & 407 SE Pine St
General Information
Standard status
Active
Size
44,200 SF
Lot size
0.86 Acres
Property subtype
Retail
Building Details
Building Size
44,200 SF
Listing Agency:
Capacity Commercial Group
(503) 222-2655
Listed By:
Nicholas Diamond · License #OR #200403266
Source:
Corfac
Added: May 14
Changed: Aug 25
Last Checked: Aug 25 at 4:58AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This offering presents a combined 0.86-acre opportunity situated in Portland's Central Eastside. The property benefits from a high-visibility location on the Eastside and is located within a Qualified Opportunity Zone. It features EX zoning and is suitable for either an owner/user or development project. The site represents a significant assemblage opportunity, comprising 8 tax lots and 44,200 square feet of building area.
Key Highlights
- Significant assemblage opportunity
- 0.86 combined acre opportunity**
- High visibility Eastside location
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
$515,151
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
9.16%
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%
$10,303,020
$10.3M
Cap Rate 7%
$7,359,300
$7.4M
Cap Rate 9%
$5,723,900
$5.7M
Market Conditions
NOI Build-Up for 44,200 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
$795.6K $18.00/SF
− Vacancy
−$59.7K −$1.35/SF
EGI
$735.9K $16.65/SF
− OpEx
−$220.8K −$5.00/SF
NOI
$515.2K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$10,303,020
Cap Rate 7%
$7,359,300
Cap Rate 9%
$5,723,900
Alternative Uses
Best Use
Retail
$7.36M
$6.44M – $8.59M
NOI $515,151 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.41M
$10.86M – $14.48M
NOI $868,872 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12,611
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
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?
Retail property - Combined 0.86 acre site in Portland's Central Eastside.
Where is this retail property located?
The property is located at 317 SE Grand Ave & 407 SE Pine St Portland, OR.
What is the asking price?
The asking price for this property is $5,625,000.
What are key features of this property?
This property features: Significant assemblage opportunity; 0.86 combined acre opportunity**; High visibility Eastside location
