Versatile Building with Flexible
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324 SE Grand Ave, Portland, OR
18,000 SF building with flexible zoning in urban renewal area.
Property Size18,000 SF
Lot Size0.21 Acres
Price / SF$222.22
Days on Market968
Property Features for 324 SE Grand Ave
General Information
Standard status
Active
Size
18,000 SF
Lot size
0.21 Acres
Property subtype
RETAIL
Listing Agency:
Cascade Commercial Real Estate LLC
(503) 705-6380
Listed By:
Todd Deneffe
Source:
Moodyscre
Added: Dec 8, 2023
Changed: Jul 6
Last Checked: Jul 21 at 6:30AM
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 Cascade Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
The building features 9,000 square feet on the street level with ceilings up to 14 feet, and an additional 9,000 square feet of usable basement warehouse space. Grade doors serve each level. The zoning is EX, which allows for retail, office, residential, and light manufacturing uses. The location is in an urban renewal area and opportunity and enterprise zone. There is an additional 8,000 square feet of parking nearby for up to 20 vehicles. Adjacent properties can be acquired to control over three-quarters of the block.
Key Highlights
- Flexible zoning allows for retail, office, residential, or light manufacturing.
- Expansive space: 9000 sf on street level with soaring 14’ ceilings and an additional 9000 sf basement.
- Located in urban renewal, opportunity, and enterprise zone.
Financial Insights For 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 | $324.0k | $18.00 |
| − Vacancy | −$24.3k | −$1.35 |
| EGI | $299.7k | $16.65 |
| − OpEx | −$89.9k | −$5.00 |
| NOI | $209.8k | $11.66 |
18,000 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.00M
$2.62M – $3.50M
NOI $209,790 @ 7.0% cap · market cap 5.24%
Second Best
Warehouse
$1.96M
$1.71M – $2.29M
NOI $137,186 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$5.05M
$4.42M – $5.90M
NOI $353,839 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,974
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - 18,000 SF building with flexible zoning in urban renewal area.
Where is this retail space located?
The property is located at 324 SE Grand Ave Portland, OR.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Flexible zoning allows for retail, office, residential, or light manufacturing.; Expansive space: **9000 sf on street level with soaring 14’ ceilings and an additional 9000 sf basement.**; Located in urban renewal, opportunity, and enterprise zone.
