Mixed-Use Property With Commercial
New
For Sale
Contact for pricing
4242 SE Milwaukie Ave, Portland, OR 97202
Newly built mixed-use asset combining apartments with flexible ground-floor retail, service, or office suites.
Property Size26,702 SF
Lot Size0.24 Acres
Price / SF$261.57
Days on Market6
Property Features for 4242 SE Milwaukie Ave
General Information
Standard status
Active
Size
26,702 SF
Lot size
0.24 Acres
Property subtype
RETAIL
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Multifamily Units
20
Amenities
polished concrete floors
exposed wood-beam ceilings
natural light
glass storefronts
Building Details
Year Built
2021
Buildings
1
Tenancy
Multi
Listing Agency:
Premiere Property Group - Fremont
(971) 271-8932
Listed By:
Tod Breslau · License #200204192
(503) 740-4888
Source:
Moodyscre
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 21 at 4:31AM
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 Premiere Property Group - Fremont
Investment Insights
Based on property information with market context.
Completed in 2021, this mixed-use property combines 20 residential apartments with three commercial suites at street level. The building contains approximately 26,702 square feet of gross area on a 0.24-acre site and is fully sprinklered. Residential interiors include luxury vinyl plank flooring, quartz countertops, wood cabinetry, tile backsplashes, stainless appliances, in-unit HVAC, and washers and dryers.
The commercial suites feature polished concrete floors, exposed wood-beam ceilings, natural light, and glass storefronts. Their configuration supports retail, service, or office occupancy, providing a combination of residential and commercial components within one building.
The commercial suites feature polished concrete floors, exposed wood-beam ceilings, natural light, and glass storefronts. Their configuration supports retail, service, or office occupancy, providing a combination of residential and commercial components within one building.
Key Highlights
- 20 residential apartments and 3 ground‑floor commercial suites
- Approximately 26,702 SF of gross building area on 0.24 acres
- Built in 2021 and fully sprinklered
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
$373,454
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
5.35%
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%
$7,469,080
$7.5M
Cap Rate 7%
$5,335,057
$5.3M
Cap Rate 9%
$4,149,489
$4.1M
Market Conditions
NOI Build-Up for 26,702 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
$576.8K $21.60/SF
− Vacancy
−$43.3K −$1.62/SF
EGI
$533.5K $19.98/SF
− OpEx
−$160.1K −$5.99/SF
NOI
$373.5K $13.99/SF
Area
ZIP 97202
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$7,469,080
Cap Rate 7%
$5,335,057
Cap Rate 9%
$4,149,489
Alternative Uses
Best Use
Retail
$5.34M
$4.67M – $6.22M
NOI $373,454 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$5.15M
$4.50M – $6.00M
NOI $360,245 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,923 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Newly built mixed-use asset combining apartments with flexible ground-floor retail, service, or office suites.
Where is this mixed-use property located?
The property is located at 4242 SE Milwaukie Ave Portland, OR.
What is the asking price?
The asking price for this property is $6,984,320.
What are key features of this property?
This property features: 20 residential apartments and 3 ground‑floor commercial suites; Approximately 26,702 SF of gross building area on 0.24 acres; Built in 2021 and fully sprinklered
