Bank Building with
For Sale
Contact for pricing
419 NW BROADWAY, Portland, OR 97205
CX zoning accommodates commercial, office, retail, and mixed-use activity.
Property Size8,357 SF
Lot Size0.26 Acres
Price / SF$179.49
Days on Market13
Property Features for 419 NW BROADWAY
General Information
Standard status
Active
Size
8,357 SF
Total Parking Spaces
17
Lot size
0.26 Acres
Property subtype
Retail, Office
Zoning
CX
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Traffic Count
14,318 vehicles/day
Additional Details
Asking Price
$1,500,000
Building Details
Year Built
1967
Buildings
1
Construction
brick
Listing Agency:
Northmarq
Listed By:
Michael Kapnick · License #OR 960500191
(503) 952-0700
Source:
Crexi
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 26 at 5:24AM
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 Northmarq
Investment Insights
Based on property information with market context.
Built in 1967, this brick bank building has a metal roof and existing drive-through infrastructure. The 8,357-square-foot property occupies an 11,160-square-foot lot and has approximately 17 on-site parking spaces. The building is vacant, and CX (Central Commercial) zoning allows commercial, office, retail, and mixed-use uses.
At the corner of NW Broadway and NW Glisan Street, the property fronts NW Broadway, where traffic is approximately 14,318 vehicles per day. An existing parking agreement provides the owner with 50% of gross parking revenue through June 30, 2027, with two one-year extension options.
At the corner of NW Broadway and NW Glisan Street, the property fronts NW Broadway, where traffic is approximately 14,318 vehicles per day. An existing parking agreement provides the owner with 50% of gross parking revenue through June 30, 2027, with two one-year extension options.
Key Highlights
- 8,357‑square‑foot former bank building on an 11,160‑square‑foot lot
- Existing drive‑through infrastructure and approximately 17 on‑site parking spaces
- CX (Central Commercial) zoning allows commercial, office, retail, and mixed‑use uses
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
$112,519
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
7.50%
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%
$2,250,380
$2.3M
Cap Rate 7%
$1,607,414
$1.6M
Cap Rate 9%
$1,250,211
$1.3M
Market Conditions
NOI Build-Up for 8,357 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
$160.5K $19.20/SF
− Vacancy
−$10.4K −$1.25/SF
EGI
$150.0K $17.95/SF
− OpEx
−$37.5K −$4.49/SF
NOI
$112.5K $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%
$2,250,380
Cap Rate 7%
$1,607,414
Cap Rate 9%
$1,250,211
Alternative Uses
Best Use
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,519 @ 7.0% cap · market cap 7.50%
Second Best
Retail
$1.39M
$1.22M – $1.62M
NOI $97,401 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,280 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14,318 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
12,966
Businesses Nearby
Explore this area
Business Placement
Demographics for 97205, OR
8,593
Population
6,727
Households
1.3
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
0.9 sq mi
ZIP Area
9,548
Density / Sq Mi
$58,943
Median Household Income
$51,002
Median Earnings
$1,381
Median Rent
$693,600
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
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Frequently Asked Questions
What type of property is this?
Bank - CX zoning accommodates commercial, office, retail, and mixed-use activity.
Where is this bank located?
The property is located at 419 NW BROADWAY Portland, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,357‑square‑foot former bank building on an 11,160‑square‑foot lot; Existing drive‑through infrastructure and approximately 17 on‑site parking spaces; CX (Central Commercial) zoning allows commercial, office, retail, and mixed‑use uses
