Building Details

Year built 1927

Roof type Flat

Listing Agency: MORE Realty I***@homesbymore.com Show Phone

Listed By: Peter Nguyen Show Phone

Added: Jul 8 Changed: Sep 30 Last Checked: Oct 10 at 9:06AM

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MLS# 605607839

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Investment Insights

Based on property information with market context.

This storefront property at 4047 NE Broadway St in Portland contains 4,838 square feet on a 0.06-acre parcel. Built in 1927, the building has a flat roof and commercial zoning designated as com.

The property is occupied by multiple tenants, providing an established multi-occupant configuration. Its location in Multnomah County places the asset within Portland’s 97232 postal area.

Key Highlights

• 4,838‑square‑foot storefront property
• 0.06‑acre parcel at 4047 NE BROADWAY St
• Multiple tenants occupy the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,387

Cap Rate

2.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,127,740 $1.1M

Cap Rate 7%

$805,529 $805.5K

Cap Rate 9%

$626,522 $626.5K

Market Conditions

NOI Build-Up for 4,838 SF

Gross rent

$87.1K $18.00/SF

− Vacancy

−$6.5K −$1.35/SF

EGI

$80.6K $16.65/SF

− OpEx

−$24.2K −$5.00/SF

NOI

$56.4K $11.66/SF

Area

Portland, OR

Vacancy

7.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,127,740

Cap Rate 7%

$805,529

Cap Rate 9%

$626,522

Alternative Uses

Best Use

Retail

$805.5K

$704.8K – $939.8K (±1% cap)

NOI $56,387 @ 7.0% cap · market cap 2.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.36M

$1.19M – $1.59M (±1% cap)

NOI $95,104 @ 7.0% cap · market cap 4.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Auto Repair Shop HVAC Service Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

3,321

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

4.6% 2019

5.6% 2020

5.2% 2021

4.2% 2022

4.4% 2023

4.7% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercially zoned storefront building with existing tenant occupancy in Portland.

Where is this storefront property located?

The property is located at 4047 NE BROADWAY St Portland, OR.

What is the asking price?

The asking price for this property is $1,999,990.

What are key features of this property?

This property features: 4,838‑square‑foot storefront property; 0.06‑acre parcel at 4047 NE BROADWAY St; Multiple tenants occupy the building