Multi-Tenant Retail Office
For Sale
Contact for pricing
628-630 NE Broadway, Portland, OR 97212
Multi-tenant building with off-street parking and rentable space totaling approximately 7,522 SF.
Property Size10,262 SF
Lot Size0.22 Acres
Price / SF$214.38
Days on Market144
Property Features for 628-630 NE Broadway
General Information
Standard status
Active
Size
10,262 SF
Class
B
Lot size
0.22 Acres
Property subtype
Office, Retail
Zoning
CX
Building Details
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
Capacity Commercial Group
Listed By:
Nicholas Diamond · License #OR 200403266
(503) 222-2655
Source:
Crexi
Added: Apr 15
Changed: Sep 2
Last Checked: Sep 5 at 10:23AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This multi-tenancy commercial building includes off-street parking and rentable space totaling approximately 7,522 SF. The overall building size is approximately 10,262 SF, situated on a total lot size of approximately 9,500 SF, which includes both the parking lot and building footprint.
The property is offered for sale at 628-630 NE Broadway. It presents a straightforward configuration for buyers seeking a small, multi-tenant setup with on-site parking.
Because the building is identified as a multiple tenancy asset, the space can support more than one occupant within the same property under the existing building organization.
The property is offered for sale at 628-630 NE Broadway. It presents a straightforward configuration for buyers seeking a small, multi-tenant setup with on-site parking.
Because the building is identified as a multiple tenancy asset, the space can support more than one occupant within the same property under the existing building organization.
Key Highlights
- Multi‑tenant building with off‑street parking
- Approximately 7,522 SF rentable space
- Building size approximately 10,262 SF (±)
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
$132,839
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
6.04%
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%
$2,656,780
$2.7M
Cap Rate 7%
$1,897,700
$1.9M
Cap Rate 9%
$1,475,989
$1.5M
Market Conditions
NOI Build-Up for 10,262 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
$234.0K $22.80/SF
− Vacancy
−$56.9K −$5.54/SF
EGI
$177.1K $17.26/SF
− OpEx
−$44.3K −$4.31/SF
NOI
$132.8K $12.94/SF
Area
Portland, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,656,780
Cap Rate 7%
$1,897,700
Cap Rate 9%
$1,475,989
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.21M
NOI $132,839 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$1.71M
$1.50M – $1.99M
NOI $119,604 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,728 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
12,966
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Multi-tenant building with off-street parking and rentable space totaling approximately 7,522 SF.
Where is this office units located?
The property is located at 628-630 NE Broadway Portland, OR.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Multi‑tenant building with off‑street parking; Approximately 7,522 SF rentable space; Building size approximately 10,262 SF (±)
