Restaurant Condo Near Light
3990 N INTERSTATE AVE 110, Portland, OR 97227
For Sale
New
$850,000
Built in 2008, the unit is leased to a restaurant and bar operator with a history of long-term occupancy.
Property Size2,261 SF
Days on Market4
Property Features for 3990 N INTERSTATE AVE 110
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
John L. Scott Portland Metro
Listed By:
Marty Spellman
(971) 279-9905
Source:
Currangrouprealtors
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 4:29PM
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 John L. Scott Portland Metro
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Investment Insights
Based on property information with market context.
This commercial condominium was constructed in 2008 and is currently occupied by a restaurant and bar tenant. The unit has a record of long-term rental use. It sits near Portland’s MAX Yellow Line in the city’s Northeast area. The property is identified as the sole commercial business space within the Overlook Heights Building.
Key Highlights
- Commercial condominium built in 2008
- Currently leased to a restaurant and bar tenant
- Long‑term rental history
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
$595,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Built in 2008, the unit is leased to a restaurant and bar operator with a history of long-term occupancy.
Where is this conventional restaurant located?
The property is located at 3990 N INTERSTATE AVE 110 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: Commercial condominium built in 2008; Currently leased to a restaurant and bar tenant; Long‑term rental history
