Listing Agency: Commercial Realty Advisors Northwest LLC Show Phone

Listed By: Kathleen Healy · License #200308123 Show Phone

Source: Moodyscre

Added: Sep 22, 2021 Changed: Oct 7 Last Checked: Oct 16 at 11:56AM

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Investment Insights

Based on property information with market context.

This 4,542-square-foot conventional restaurant occupies a floating setting on the Willamette River in downtown Portland. The property is positioned for access by river traffic, with boat docking available next to the restaurant. Its waterfront placement creates a distinctive operating environment for restaurant use.

The site is near McCormick & Schmick’s Harborside at the Marina, The Pilsner Room, Kimpton’s Riverplace Hotel, King Tide Fish & Shell, Yomi Sushi, Upstream Coffee, and Little River Café. The property is also visible from the Marquam and Hawthorne bridges and sits within an area described as having dense residential and daytime populations.

Key Highlights

• 4,542‑square‑foot floating restaurant on the Willamette River
• Adjacent boat docking available for river traffic
• Located in downtown Portland at 425 SW Montgomery St

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,153

Cap Rate

7.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,223,060 $1.2M

Cap Rate 7%

$873,614 $873.6K

Cap Rate 9%

$679,478 $679.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,542 SF

Gross rent

$87.2K $19.20/SF

− Vacancy

−$5.7K −$1.25/SF

EGI

$81.5K $17.95/SF

− OpEx

−$20.4K −$4.49/SF

NOI

$61.2K $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%

$1,223,060

Cap Rate 7%

$873,614

Cap Rate 9%

$679,478

Alternative Uses

Best Use

Specialty Retail

$873.6K

$764.4K – $1.02M (±1% cap)

NOI $61,153 @ 7.0% cap · market cap 7.64%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,285 @ 7.0% cap · market cap 11.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

PORTLAND WATER SPORTS Big Box & Wholesale Store

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Tanning Salon Pet Grooming Service Veterinary Clinic Pet Store & Service Restaurant

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

Location Intelligence

Trade Area within ½ mile

6,617

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 97201, OR

17,352

Population

10,748

Households

1.6

Avg Household Size

34

Median Age

67%

College-Educated

95%

High-School Grad

1.9 sq mi

ZIP Area

9,133

Density / Sq Mi

$67,074

Median Household Income

$48,101

Median Earnings

$1,565

Median Rent

$648,400

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

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Waterfront setting with adjacent boat docking and a downtown Portland location.

Where is this conventional restaurant located?

The property is located at 425 SW Montgomery St Portland, OR.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 4,542‑square‑foot floating restaurant on the Willamette River; Adjacent boat docking available for river traffic; Located in downtown Portland at 425 SW Montgomery St