Mixed-Use Retail and Apartment
For Sale
$3,500,000
8212 N DENVER AVE, Portland, OR 97217
Remodeled mixed-use building with three fully leased storefront spaces and 11 upstairs residential units.
Property Size14,100 SF
Days on Market464
Property Features for 8212 N DENVER AVE
General Information
Standard status
Active
Size
14,100 SF
Units
Multifamily Units
11
Office Units
3
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$16,971
Building Details
Building Size
14,100 SF
Year Built
1911
Year Renovated
2018
Stories
2
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Evan Nelson · License #201206804
(310) 422-6044
Source:
Tripleoaksrealty
Added: May 8, 2025
Changed: Aug 13
Last Checked: Aug 13 at 3:05AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
8212 N Denver Ave is a remodeled mixed-use property featuring three fully leased commercial spaces on the main level and 11 residential units on the second floor. The storefront units are described as mostly street-facing and individually metered. The residential mix includes two one-bedroom units with full bathrooms and kitchenettes, plus nine micro units, including one double-sized micro unit with an in-unit kitchenette, seven standard micro units with kitchenettes, and one streamlined unit without a kitchenette.
Common resident amenities include a large shared kitchen and dining area, an enclosed grilling space with built-in BBQ, seating, and a gas fire pit, and a rear deck with additional seating and elevated views. Interior conveniences include a washer/dryer closet, two powder rooms, and two dedicated shower rooms. The mostly open basement provides three secured storage units and space for potential additional build-out or flexible repurposing.
The building is positioned for owner-users and investors seeking a property that combines street-level retail/service space with upstairs housing. With commercial units presently occupied by a restaurant, a salon, and a record shop, and residential units arranged in a blend of standard and micro living formats, the layout supports both day-to-day income-producing operations and modern, amenity-forward living.
Common resident amenities include a large shared kitchen and dining area, an enclosed grilling space with built-in BBQ, seating, and a gas fire pit, and a rear deck with additional seating and elevated views. Interior conveniences include a washer/dryer closet, two powder rooms, and two dedicated shower rooms. The mostly open basement provides three secured storage units and space for potential additional build-out or flexible repurposing.
The building is positioned for owner-users and investors seeking a property that combines street-level retail/service space with upstairs housing. With commercial units presently occupied by a restaurant, a salon, and a record shop, and residential units arranged in a blend of standard and micro living formats, the layout supports both day-to-day income-producing operations and modern, amenity-forward living.
Key Highlights
- Year built 1911 remodeled mixed‑use building with 3 fully leased ground‑floor retail/storefront spaces
- Three street‑facing commercial spaces on N Denver Ave, each individually metered
- Upstairs second floor includes 11 residential units: (2) 1‑bedroom units and (9) micro units
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
$190,350
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
5.44%
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%
$3,807,000
$3.8M
Cap Rate 7%
$2,719,286
$2.7M
Cap Rate 9%
$2,115,000
$2.1M
Market Conditions
NOI Build-Up for 14,100 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
$338.4K $24.00/SF
− Vacancy
−$33.8K −$2.40/SF
EGI
$304.6K $21.60/SF
− OpEx
−$114.2K −$8.10/SF
NOI
$190.4K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,807,000
Cap Rate 7%
$2,719,286
Cap Rate 9%
$2,115,000
Alternative Uses
Best Use
Mixed Use
$2.72M
$2.38M – $3.17M
NOI $190,350 @ 7.0% cap · market cap 5.44%
Second Best
Specialty Retail
$2.71M
$2.37M – $3.16M
NOI $189,842 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$3.96M
$3.46M – $4.62M
NOI $277,174 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
11
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
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?
Mixed-use property - Remodeled mixed-use building with three fully leased storefront spaces and 11 upstairs residential units.
Where is this mixed-use property located?
The property is located at 8212 N DENVER AVE Portland, OR.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Year built 1911 remodeled mixed‑use building with 3 fully leased ground‑floor retail/storefront spaces; Three street‑facing commercial spaces on N Denver Ave, each individually metered; Upstairs second floor includes 11 residential units: (2) 1‑bedroom units and (9) micro units
