Restaurant Building on Sandy
5824-5846 Ne Sandy Blvd, Portland, OR 97213
Two-tenant restaurant building with prime location and on-site parking.
Type:Retail
Property size:
6,400 SFLot size:
0.22 AcresPrice / SF:
$217/SF- Added:
- Mar 14, 2026
- Days on Market:
- 115
- Last Refresh:
- Mar 19 at 11:30 pm
Property Features for 5824-5846 Ne Sandy Blvd
General Information
- Standard status
- Active
- Size
- 6,400 SF
- Lot size
- 0.22 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1940
Listing office Ethos Commercial Advisors
Listing date Mar 14, 2026
Source Crexi
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 Ethos Commercial Advisors
HighLights
- Prime location on NE Sandy Blvd in the desirable Alameda neighborhood with high visibility and 115' of frontage.
- Significant owner‑user opportunity with a fully built‑out +/-4,600 sf restaurant space featuring a 20' type 1 hood, walk‑in coolers, and a bar, ready for immediate occupancy.
- Existing income stream from Thai Seasons tenant (1,800 sf) under a double‑net lease through March 2028.
- On‑site parking, a premium asset on Sandy Blvd.
- Recently renovated (while preserving established character) to modern standards, including new HVAC units in 2025.
- Corner space adaptable for production, brewery, or private events.
Overview
This 6,400 square foot two-tenant restaurant building is situated in a visible location on NE Sandy Boulevard, adjacent to the Alameda neighborhood. Constructed in 1940, the building has been renovated to meet modern standards while maintaining its original character. The property includes a dedicated surface lot providing on-site parking. The building is currently home to Thai Seasons, occupying approximately 1,800 square feet under a commercial double-net lease through March 2028. A corner restaurant space, comprising approximately 4,600 square feet, is available for an owner-user. This space includes a 20-foot Type 1 commercial hood, walk-in coolers, a fully built-out bar, and a separate corner space suitable for production, brewery, or private events. The available space is ready for immediate occupancy. The building features new upgraded HVAC units installed in 2025. Located directly on NE Sandy Boulevard with 115 feet of frontage and a traffic count of 11,000 vehicles per day, the property offers street visibility and signage opportunities. The surrounding Alameda corridor is characterized by residential density, high household incomes, and pedestrian traffic.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.9k | $19.20 |
| − Vacancy | −$8.0k | −$1.25 |
| EGI | $114.9k | $17.95 |
| − OpEx | −$28.7k | −$4.49 |
| NOI | $86.2k | $13.46 |
6,400 SF · lease $19.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,170 @ 7.0% cap · market cap 6.18%
Second Best
Retail
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,809 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.6028296
- Latitude
- 45.5427007
Nearby Similar for Sale
FAQs
What type of property is this?
Restaurant - Two-tenant restaurant building with prime location and on-site parking.
Where is this restaurant located?
The property is located at 5824-5846 Ne Sandy Blvd Portland, OR.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Prime location on NE Sandy Blvd in the desirable Alameda neighborhood with high visibility and 115' of frontage.; Significant owner‑user opportunity with a fully built‑out +/-4,600 sf restaurant space featuring a 20' type 1 hood, walk‑in coolers, and a bar, ready for immediate occupancy.; Existing income stream from Thai Seasons tenant (1,800 sf) under a double‑net lease through March 2028.
