Leased Restaurant
3990 N INTERSTATE Ave, Portland, OR 97227
For Sale
New
$850,000
CommercialSale, Portland, OR
Property Size2,261 SF
Price / SF$375.94
Days on Market1
Property Features for 3990 N INTERSTATE Ave
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Roof type
Listing Agency:
John L. Scott Portland Metro
(503) 665-0111
Listed By:
Marty Spellman
(971) 279-9905
Added: Nov 6
Last Checked: Nov 6 at 8:06PM
MLS# 118131771
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,261-square-foot commercial condominium is leased to a restaurant and bar operator. Built in 2008, the space has heat-pump heating and cooling, a built-up roof, and CM3 zoning.
The property is in NE Portland, steps from the MAX Yellow Line. It is the only commercial business space in the Overlook Heights Building.
The property is in NE Portland, steps from the MAX Yellow Line. It is the only commercial business space in the Overlook Heights Building.
Key Highlights
- 2,261‑square‑foot commercial condominium
- Currently leased to a restaurant/bar tenant
- Steps from the MAX Yellow Line in NE Portland
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,442
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$608,840
$608.8K
Cap Rate 7%
$434,886
$434.9K
Cap Rate 9%
$338,244
$338.2K
Market Conditions
NOI Build-Up for 2,261 SF
Gross rent
$43.4K $19.20/SF
− Vacancy
−$2.8K −$1.25/SF
EGI
$40.6K $17.95/SF
− OpEx
−$10.1K −$4.49/SF
NOI
$30.4K $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 Rate 5%
$608,840
Cap Rate 7%
$434,886
Cap Rate 9%
$338,244
Alternative Uses
Best Use
Specialty Retail
$434.9K
$380.5K – $507.4K
NOI $30,442 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.9K
$555.6K – $740.8K
NOI $44,446 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,777
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97227, OR
6,058
Population
3,835
Households
1.6
Avg Household Size
35
Median Age
60%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
4,327
Density / Sq Mi
$79,161
Median Household Income
$56,098
Median Earnings
$1,609
Median Rent
$595,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Conventional restaurants in Portland, OR
Properties on Market for Conventional restaurants in Portland
Vacancy Rate% for Retail in Portland, OR
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A restaurant and bar tenant occupies this commercial condominium near the MAX Yellow Line.
Where is this conventional restaurant located?
The property is located at 3990 N INTERSTATE Ave Portland, OR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,261‑square‑foot commercial condominium; Currently leased to a restaurant/bar tenant; Steps from the MAX Yellow Line in NE Portland
