Multi-Tenant Retail
For Sale
Contact for pricing
456 N State St, Lake Oswego, OR 97034
Retail building occupied 100% by The Gemini, offered for sale as a fully leased investment.
Property Size7,500 SF
Price / SF$393.33
Days on Market206
Property Features for 456 N State St
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Retail
Zoning
CM4L, Lake Oswego
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Owner/User
Building Details
Year Built
1927
Tenancy
Single
Listing Agency:
Commercial Integrity NW
Listed By:
Brad Macomber · License #OR#200908061
(503) 218-4380
Source:
Crexi
Added: Apr 1
Changed: Oct 14
Last Checked: Oct 20 at 9:29PM
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 Commercial Integrity NW
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Gemini occupies 100% of the building, creating a fully leased retail asset for sale. The property is a storefront-style retail building within the provided commercial real estate portfolio.
The offering is located at 456 N State St in Lake Oswego, Oregon. Address-level details are provided as part of the public remarks for identification and access.
With the building fully occupied by a single user, the configuration is straightforward for buyers seeking an all-in one property with consistent occupancy at the time of listing.
The offering is located at 456 N State St in Lake Oswego, Oregon. Address-level details are provided as part of the public remarks for identification and access.
With the building fully occupied by a single user, the configuration is straightforward for buyers seeking an all-in one property with consistent occupancy at the time of listing.
Key Highlights
- Retail building built in 1927
- Fully leased investment: The Gemini occupies 100% of the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,312
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,086,240
$2.1M
Cap Rate 7%
$1,490,171
$1.5M
Cap Rate 9%
$1,159,022
$1.2M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$161.1K $21.48/SF
− Vacancy
−$12.1K −$1.61/SF
EGI
$149.0K $19.87/SF
− OpEx
−$44.7K −$5.96/SF
NOI
$104.3K $13.91/SF
Area
Clackamas County, OR
Vacancy
7.50%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,086,240
Cap Rate 7%
$1,490,171
Cap Rate 9%
$1,159,022
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.74M
NOI $104,312 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,710 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,503
Businesses Nearby
124k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Shops & Services 32%
Dining 17%
Home Improvements & Furnishings 6%
Safeway
Groceries
28,396 visits/mo
0.4 miles
Whole Foods Market
Groceries
21,945 visits/mo
0.2 miles
Starbucks
Dining
11,054 visits/mo
0.2 miles
Salt & Straw
Dining
8,999 visits/mo
0.1 miles
Lake Oswego Ace Hardware
Home Improvements & Furnishings
7,876 visits/mo
0.3 miles
Demographics for 97034, OR
21,396
Population
9,017
Households
2.4
Avg Household Size
49
Median Age
74%
College-Educated
99%
High-School Grad
7.7 sq mi
ZIP Area
2,779
Density / Sq Mi
$147,688
Median Household Income
$77,500
Median Earnings
$2,030
Median Rent
$995,900
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 West region
Similar Off Market Nearby
- R Bloom's Of Lake Oswego — 267 A Ave, Lake Oswego, OR 97034
- Lake O. Floral — 397 N State St, Lake Oswego, OR 97034
- Buddies Flowers — 457 2nd St, Lake Oswego, OR 97034
Frequently Asked Questions
What type of property is this?
Storefront property - Retail building occupied 100% by The Gemini, offered for sale as a fully leased investment.
Where is this storefront property located?
The property is located at 456 N State St Lake Oswego, OR.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Retail building built in 1927; Fully leased investment: The Gemini occupies 100% of the building
