Mixed-Use Building with Ground-Floor
For Sale
Contact for pricing
6433 SE Foster Rd, Portland, OR 97206
100% occupied mixed-use building with a long-tenured neighborhood restaurant and seven residential units above.
Property Size6,634 SF
Price / SF$237.41
Days on Market137
Property Features for 6433 SE Foster Rd
General Information
Standard status
Active
Size
6,634 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
CM2
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$106,922
Additional Details
Business Included
Yes
Multifamily Units
7
Building Details
Year Built
1922
Buildings
1
Stories
2
Units
8
Listing Agency:
Commercial Real Estate NW
Listed By:
Denise Brohoski · License #OR 200508190
(503) 309-5106
Source:
Crexi
Added: Apr 22
Changed: Aug 31
Last Checked: Sep 4 at 4:28PM
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 Commercial Real Estate NW
Investment Insights
Based on property information with market context.
100% occupied mixed-use building located in Southeast Portland’s Foster-Powell neighborhood. The ground floor is anchored by Bar Carlo, a well-established neighborhood restaurant with nearly 20 years of continuous tenancy. Above, the building offers seven residential units, a mix of studios, one-bedrooms, and two-bedroom homes, with several long-term tenants and low turnover.
The property is positioned along one of the area’s most active retail corridors and provides easy access to both Powell Boulevard and Foster Road. The surrounding area includes a dense mix of independent restaurants, cafes, and shops, and the neighborhood is well-served by TriMet bus lines.
The building is very well maintained, with a newer roof, fresh exterior paint, and updated HVAC systems.
The property is positioned along one of the area’s most active retail corridors and provides easy access to both Powell Boulevard and Foster Road. The surrounding area includes a dense mix of independent restaurants, cafes, and shops, and the neighborhood is well-served by TriMet bus lines.
The building is very well maintained, with a newer roof, fresh exterior paint, and updated HVAC systems.
Key Highlights
- 100% occupied mixed‑use building in SE Portland’s Foster‑Powell neighborhood
- Ground‑floor commercial tenant: Bar Carlo restaurant with nearly 20 years of continuous tenancy
- Seven residential units above: studios, one‑bedrooms, and a two‑bedroom with several long‑term tenants and low turnover
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
$88,365
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
5.61%
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%
$1,767,300
$1.8M
Cap Rate 7%
$1,262,357
$1.3M
Cap Rate 9%
$981,833
$981.8K
Market Conditions
NOI Build-Up for 6,634 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
$127.4K $19.20/SF
− Vacancy
−$9.6K −$1.44/SF
EGI
$117.8K $17.76/SF
− OpEx
−$29.5K −$4.44/SF
NOI
$88.4K $13.32/SF
Area
ZIP 97206
Vacancy
7.50%
Lease Rate
$19.20 /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%
$1,767,300
Cap Rate 7%
$1,262,357
Cap Rate 9%
$981,833
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,365 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,350 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,409 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 100% occupied mixed-use building with a long-tenured neighborhood restaurant and seven residential units above.
Where is this apartment building located?
The property is located at 6433 SE Foster Rd Portland, OR.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 100% occupied mixed‑use building in SE Portland’s Foster‑Powell neighborhood; Ground‑floor commercial tenant: Bar Carlo restaurant with nearly 20 years of continuous tenancy; Seven residential units above: studios, one‑bedrooms, and a two‑bedroom with several long‑term tenants and low turnover
