Korean BBQ Restaurant
For Sale
$299,000
4615 SE Hawthorne Blvd, Portland, OR 97215
CommercialSale, Portland, OR
Property Size2,220 SF
Price / SF$134.68
Days on Market249
Property Features for 4615 SE Hawthorne Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
SE Hawthorne Blvd
Subdivision
_143
Standard status
Active
APN
Not Found
Size
2,220 SF
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Floors in Building
1
Listing Agency:
Oregon First
(503) 646-5006
Listed By:
Fangfei Yang · License #22012295
(971) 276-3405
Added: Dec 29, 2025
Changed: Aug 25
Last Checked: Sep 4 at 12:06PM
MLS# 262373823
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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.
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 = 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
$13,934
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
4.66%
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%
$278,680
$278.7K
Cap Rate 7%
$199,057
$199.1K
Cap Rate 9%
$154,822
$154.8K
Market Conditions
NOI Build-Up for 2,220 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
$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 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%
$278,680
Cap Rate 7%
$199,057
Cap Rate 9%
$154,822
Alternative Uses
Best Use
Specialty Retail
$427.0K
$373.6K – $498.2K
NOI $29,890 @ 7.0% cap · market cap 10.00%
Second Best
Industrial
$199.1K
$174.2K – $232.2K
NOI $13,934 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$623.4K
$545.5K – $727.3K
NOI $43,640 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
