Multi-Tenant Storefront
New
For Sale
Contact for pricing
628 NE Broadway, Portland, OR 97232
Retail building offering off-street parking and a configuration suited to multiple occupancies.
Property Size9,500 SF
Lot Size0.22 Acres
Price / SF$231.58
Days on Market7
Property Features for 628 NE Broadway
General Information
Standard status
Active
Size
9,500 SF
Lot size
0.22 Acres
Property subtype
RETAIL
Additional Details
Asking Price
$2,200,000
Building Details
Tenancy
Multi
Listing Agency:
Capacity Commercial Group
(503) 326-9000
Listed By:
Ian Biggi · License #200403266
Source:
Moodyscre
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 2:18PM
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 storefront property includes approximately 7,522 RSF of rentable area within a 10,262 SF building. The configuration supports multiple tenancy and may accommodate an owner-user or investment-oriented operating model. Off-street parking is included on the property.
The site encompasses 9,500 SF, including the building and parking area. Located at 628 NE Broadway in Portland, the property presents a retail-oriented commercial footprint with dedicated parking and a multi-occupancy layout.
The site encompasses 9,500 SF, including the building and parking area. Located at 628 NE Broadway in Portland, the property presents a retail-oriented commercial footprint with dedicated parking and a multi-occupancy layout.
Key Highlights
- Approximately 7,522 RSF of rentable area
- Approximately 10,262 SF building
- 9,500 SF total lot including building and parking lot
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
$110,723
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
5.03%
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%
$2,214,460
$2.2M
Cap Rate 7%
$1,581,757
$1.6M
Cap Rate 9%
$1,230,256
$1.2M
Market Conditions
NOI Build-Up for 9,500 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
$171.0K $18.00/SF
− Vacancy
−$12.8K −$1.35/SF
EGI
$158.2K $16.65/SF
− OpEx
−$47.5K −$5.00/SF
NOI
$110.7K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /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%
$2,214,460
Cap Rate 7%
$1,581,757
Cap Rate 9%
$1,230,256
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.85M
NOI $110,723 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,748 @ 7.0% cap · market cap 8.49%
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
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
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.
Similar Off Market Nearby
- Flower Temple Designs — 111 SW Columbia St # 3, Portland, OR 97201
- Gifford's Flowers — 704 SW Jefferson St, Portland, OR 97201
- Petros Same Day Flower Delivery Inc. — 817 SW 5th Ave, Portland, OR 97204
- Just Flowers — 510 SW 3rd Ave #200, Portland, OR 97204
- Geranium Lake Flowers — 555 SW Oak St, Portland, OR 97204
Frequently Asked Questions
What type of property is this?
Storefront property - Retail building offering off-street parking and a configuration suited to multiple occupancies.
Where is this storefront property located?
The property is located at 628 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: Approximately 7,522 RSF of rentable area; Approximately 10,262 SF building; 9,500 SF total lot including building and parking lot
