Restaurant Building with Large
New
For Sale
$1,200,000
7332 NE M L KING BLVD, Portland, OR 97211
Operating restaurant property with a large kitchen, basement space, and on-site parking.
Property Size2,950 SF
Days on Market4
Property Features for 7332 NE M L KING BLVD
General Information
Standard status
Active
Size
2,950 SF
Property subtype
Commercial
Zoning
CEdh (MU-C)
Property Condition
Severity
Repairs Needed
Evidence
Building can be improved with some updates.
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$7,435
Building Details
Building Size
2,950 SF
Year Built
1958
Listing Agency:
RE/MAX Equity Group
Listed By:
Jessica Hur
(503) 502-2525
Source:
Currangrouprealtors
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 13 at 9:40AM
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 RE/MAX Equity Group
Investment Insights
Based on property information with market context.
This restaurant property includes an operating teriyaki restaurant, a substantial kitchen, and a building totaling 2,950 square feet. The building also contains 588 square feet of basement area and dates to 1958. Existing operations include a video poker machine, with current hours limited by weekend closures and weekday closing at 7:00 p.m. The business hours may be extended, and the building could benefit from updates.
Located at 7332 NE M L King Boulevard in Portland, the property includes ample parking. Zoning is identified as CEdh (MU-C), subject to confirmation with the City. Inventory is handled separately, and financial information requires a signed NDA.
Located at 7332 NE M L King Boulevard in Portland, the property includes ample parking. Zoning is identified as CEdh (MU-C), subject to confirmation with the City. Inventory is handled separately, and financial information requires a signed NDA.
Key Highlights
- 2,950‑square‑foot restaurant building
- 588 square feet of basement space included in the building area
- Large kitchen supports the existing teriyaki restaurant operation
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
$39,719
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
3.31%
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%
$794,380
$794.4K
Cap Rate 7%
$567,414
$567.4K
Cap Rate 9%
$441,322
$441.3K
Market Conditions
NOI Build-Up for 2,950 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
$56.6K $19.20/SF
− Vacancy
−$3.7K −$1.25/SF
EGI
$53.0K $17.95/SF
− OpEx
−$13.2K −$4.49/SF
NOI
$39.7K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
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%
$794,380
Cap Rate 7%
$567,414
Cap Rate 9%
$441,322
Alternative Uses
Best Use
Specialty Retail
$567.4K
$496.5K – $662.0K
NOI $39,719 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.4K
$724.9K – $966.5K
NOI $57,990 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant property with a large kitchen, basement space, and on-site parking.
Where is this conventional restaurant located?
The property is located at 7332 NE M L KING BLVD Portland, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,950‑square‑foot restaurant building; 588 square feet of basement space included in the building area; Large kitchen supports the existing teriyaki restaurant operation
