Building Details

Building Size 6,520 SF

Year Built 1971

Buildings 2

Listing Agency: Modern Realty

Listed By: David Brownlee · License #201241591 Show Phone

Source: Eleeterealestate

Added: Apr 25 Changed: Oct 8 Last Checked: Oct 15 at 4:46AM

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Investment Insights

Based on property information with market context.

This conventional restaurant property consists of two separate buildings situated on individual tax lots, with a combined property size of 6,520 SF. Constructed in 1971, the asset is occupied by long-term tenants and is identified as an income-producing property.

The property is located at 4331 NE Killingsworth St in Portland’s Cully Neighborhood. A newly completed 84-unit PCC housing development is adjacent to the site, adding a significant residential presence next door. The offering combines a two-building layout, established tenancy, and a location within a recognized Portland neighborhood.

Key Highlights

• 6,520 SF restaurant property
• Two separate buildings on individual tax lots
• Built in 1971

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$87,785

Cap Rate

4.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,755,700 $1.8M

Cap Rate 7%

$1,254,071 $1.3M

Cap Rate 9%

$975,389 $975.4K

Market Conditions

NOI Build-Up for 6,520 SF

Gross rent

$125.2K $19.20/SF

− Vacancy

−$8.1K −$1.25/SF

EGI

$117.0K $17.95/SF

− OpEx

−$29.3K −$4.49/SF

NOI

$87.8K $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%

$1,755,700

Cap Rate 7%

$1,254,071

Cap Rate 9%

$975,389

Alternative Uses

Best Use

Specialty Retail

$1.25M

$1.10M – $1.46M (±1% cap)

NOI $87,785 @ 7.0% cap · market cap 4.39%

Second Best

Retail

$1.09M

$949.9K – $1.27M (±1% cap)

NOI $75,991 @ 7.0% cap · market cap 3.80%

Theoretical Best

Office A

$1.83M

$1.60M – $2.14M (±1% cap)

NOI $128,168 @ 7.0% cap · market cap 6.41%

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

Property Analytics

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Current Use

Teriyaki Bento Restaurant Sub Shop Take-out & Catering

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Hair Salon Nail Salon HVAC Service

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

657

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 97218, OR

14,748

Population

6,440

Households

2.3

Avg Household Size

38

Median Age

51%

College-Educated

91%

High-School Grad

6.7 sq mi

ZIP Area

2,201

Density / Sq Mi

$81,367

Median Household Income

$45,830

Median Earnings

$1,440

Median Rent

$493,300

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 conventional restaurants 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?

Conventional restaurant - Separate buildings on individual tax lots provide a multi-structure commercial configuration with long-term tenant occupancy.

Where is this conventional restaurant located?

The property is located at 4331 NE KILLINGSWORTH ST Portland, OR.

What is the asking price?

The asking price for this property is $1,999,000.

What are key features of this property?

This property features: 6,520 SF restaurant property; Two separate buildings on individual tax lots; Built in 1971