Building Details

Tenancy Multi

Listing Agency: Capacity Commercial Group Show Phone

Listed By: Nicholas Diamond · License ##200403266 Show Phone

Source: Moodyscre

Added: Aug 26 Changed: Oct 4 Last Checked: Oct 16 at 10:49AM

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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.

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 / Yr

$110,723

Cap Rate

5.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,214,460 $2.2M

Cap Rate 7%

$1,581,757 $1.6M

Cap Rate 9%

$1,230,256 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,500 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $186,748 @ 7.0% cap · market cap 8.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

MacForce Tech Support Center Yosu Sushi Restaurant Bee City USA Charitable Organization Bee Better Certified Association Or Organization City Center Parking Parking Lot & Garage

Suggested Use

Top Pick Veterinary Clinic Nursing Home Tanning Salon Buffet Electrical Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4.6% 2019

5.6% 2020

5.2% 2021

4.2% 2022

4.4% 2023

4.7% 2024

5.4% 2025

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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