Building Details

Floors in Building 1

Listing Agency: Oregon First m***@oregonfirst.com Show Phone

Listed By: Fangfei Yang Show Phone

Added: Dec 29, 2025 Changed: Sep 30 Last Checked: Oct 19 at 10:06PM

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MLS# 262373823

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Investment Insights

Based on property information with market context.

This restaurant business occupies 2,220 square feet and has operated since 2004. The dining room includes 13 BBQ tables fitted with custom smokeless grills, seating for approximately 65 guests, and a license for up to 130 patrons. A fully equipped kitchen, central air, and heat-pump heating are included. The sale is for the business and operating assets; no real estate is included.

The restaurant currently operates six days per week from 4 p.m. to 9 p.m. Parking is available on site and along the street. The property is located in Portland, Oregon, within the 97215 ZIP code.

Key Highlights

• Established restaurant business operating since 2004
• 2,220 square feet with 13 BBQ tables
• Custom smokeless grills included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,934

Cap Rate

4.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$278,680 $278.7K

Cap Rate 7%

$199,057 $199.1K

Cap Rate 9%

$154,822 $154.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,220 SF

Gross rent

$21.3K $9.60/SF

− Vacancy

−$1.4K −$0.63/SF

EGI

$19.9K $8.97/SF

− OpEx

−$6.0K −$2.69/SF

NOI

$13.9K $6.28/SF

Area

Portland, OR

Vacancy

6.60%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$278,680

Cap Rate 7%

$199,057

Cap Rate 9%

$154,822

Alternative Uses

Best Use

Specialty Retail

$427.0K

$373.6K – $498.2K (±1% cap)

NOI $29,890 @ 7.0% cap · market cap 10.00%

Second Best

Industrial

$199.1K

$174.2K – $232.2K (±1% cap)

NOI $13,934 @ 7.0% cap · market cap 4.66%

Theoretical Best

Office A

$623.4K

$545.5K – $727.3K (±1% cap)

NOI $43,640 @ 7.0% cap · market cap 14.60%

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

Toji Korean Grill ... Restaurant Portland Towing Wrecker ... Auto Repair Shop

Suggested Use

Top Pick HVAC Service Auto Parts Store Building Supply Parking Lot & Garage Carpet & Flooring Store Grocery & Convenience Store

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

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

2,012

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 97215, OR

18,221

Population

7,855

Households

2.3

Avg Household Size

40

Median Age

64%

College-Educated

97%

High-School Grad

2.3 sq mi

ZIP Area

7,922

Density / Sq Mi

$114,361

Median Household Income

$62,704

Median Earnings

$1,587

Median Rent

$658,500

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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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established restaurant business with a fully equipped kitchen, custom smokeless grills, and on-site parking.

Where is this conventional restaurant located?

The property is located at 4615 SE Hawthorne Blvd Portland, OR.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: Established restaurant business operating since 2004; 2,220 square feet with 13 BBQ tables; Custom smokeless grills included