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    5824-5846 Ne Sandy Blvd Portland, OR 97213

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    Two-tenant restaurant building with prime location and on-site parking.

    Property size:
    6,400 SF
    Lot size:
    9,670.00 Acres

    Property Features for 5824-5846 Ne Sandy Blvd

    General Information

    Standard status
    Active
    Zoning
    CM2
    Size
    6,400 SF
    Lot size
    9,670.00 Acres

    Building Details

    Year built
    1940

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    Listing Contact
    Dana Solof
    Dana Solof
    Source: Crexi

    Listing Agency: Ethos Commercial Advisors Listing Agent: Dana Solof

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restaurant Building on Sandy Boulevard

    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.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6028296
    Latitude
    45.5427007

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    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 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.
    Request Owner's contact information
    5824-5846 Ne Sandy Blvd Portland, OR 97213
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    Portland, OR 97213
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5824-5846 Ne Sandy Blvd Portland, OR 97213
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    Listing Contact
    Dana Solof
    Dana Solof
    Real Estate License ID: 201212599
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