Restaurant and Karaoke
For Sale
$1,900,000
3390 Ne Sandy Blvd, Portland, OR 97232
Existing lounge configuration includes karaoke, late operating hours, and on-site parking.
Property Size9,847 SF
Price / SF$192.95
Days on Market262
Property Features for 3390 Ne Sandy Blvd
General Information
Standard status
Active
Size
9,847 SF
Total Parking Spaces
16
Property subtype
Commercial
Additional Details
Business Included
Yes
Amenities
Restaurant
Lounge
karaoke
Building Details
Year Built
1921
Listing Agency:
Windermere Community Realty
Listed By:
Tim Wei · License #930400088
(503) 249-1706
Source:
Portlandpropertylistings
Added: Jan 8
Changed: Sep 21
Last Checked: Sep 26 at 7:47AM
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 Windermere Community Realty
Investment Insights
Based on property information with market context.
This established restaurant property includes a lounge and karaoke setup, with operations reported from 6pm to 2am. The site comprises 2 tax lots and includes a dedicated parking lot with capacity for up to 16 cars.
Located at 3390 NE Sandy Blvd in Portland, the property was built in 1921. The existing restaurant and lounge configuration provides a defined commercial use with on-site parking and late-hour operations.
Located at 3390 NE Sandy Blvd in Portland, the property was built in 1921. The existing restaurant and lounge configuration provides a defined commercial use with on-site parking and late-hour operations.
Key Highlights
- Restaurant open from 6pm‑2am
- Lounge with karaoke setup
- Parking lot could accommodate up to 16 cars
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
$132,580
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
6.98%
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%
$2,651,600
$2.7M
Cap Rate 7%
$1,894,000
$1.9M
Cap Rate 9%
$1,473,111
$1.5M
Market Conditions
NOI Build-Up for 9,847 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
$189.1K $19.20/SF
− Vacancy
−$12.3K −$1.25/SF
EGI
$176.8K $17.95/SF
− OpEx
−$44.2K −$4.49/SF
NOI
$132.6K $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%
$2,651,600
Cap Rate 7%
$1,894,000
Cap Rate 9%
$1,473,111
Alternative Uses
Best Use
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,580 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,570 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,283
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing lounge configuration includes karaoke, late operating hours, and on-site parking.
Where is this conventional restaurant located?
The property is located at 3390 Ne Sandy Blvd Portland, OR.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Restaurant open from 6pm‑2am; Lounge with karaoke setup; Parking lot could accommodate up to 16 cars
