Restaurant and Lounge
For Sale
$1,900,000
3390 NE SANDY Blvd, Portland, OR 97232
CommercialSale, Portland, OR
Property Size9,847 SF
Lot Size0.27 Acres
Price / SF$192.95
Days on Market103
Property Features for 3390 NE SANDY Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CG
Directions
Between 33rd and 34th Sandy
Subdivision
_142
Standard status
Active
APN
R203024
Size
9,847 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
LAURELHURST, BLOCK 35, LOT 6&7
Tax Annual Amount
22834
Legal Description
LAURELHURST, BLOCK 35, LOT 6&7
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1921
Building materials
Brick, Concrete
Roof type
Composition
Listing Agency:
Windermere Community Realty
(503) 249-1706
Listed By:
Tim Wei · License #930400088
(503) 349-1981
Added: May 15
Changed: Aug 25
Last Checked: Aug 25 at 5:06AM
MLS# 710545478
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is a 9,847-square-foot restaurant building on a 0.27-acre site at 3390 NE SANDY Blvd in Portland. The existing operation includes restaurant, lounge, and karaoke uses, with hours listed from 6pm to 2am. The building dates to 1921 and features brick and concrete construction, forced-air heating, central air conditioning, and a composition roof.
The site consists of 2 tax lots and includes 1 parking lot with capacity for up to 16 cars. Zoning is CG. The property is offered for sale as an existing restaurant and lounge asset with its current commercial configuration.
The site consists of 2 tax lots and includes 1 parking lot with capacity for up to 16 cars. Zoning is CG. The property is offered for sale as an existing restaurant and lounge asset with its current commercial configuration.
Key Highlights
- 9,847‑square‑foot restaurant building on a 0.27‑acre site
- Restaurant, lounge, and karaoke uses
- Operating hours listed as 6pm‑2am
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
Property Profile
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
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 - Evening operations include a lounge and karaoke uses within a commercial restaurant setting.
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: 9,847‑square‑foot restaurant building on a 0.27‑acre site; Restaurant, lounge, and karaoke uses; Operating hours listed as 6pm‑2am
