Mixed-Use Investment in
For Sale
$3,500,000
8212 N DENVER Ave, Portland, OR 97217
MULTI_FAMILY - Portland, OR
Property Size14,100 SF
Lot Size0.12 Acres
Price / SF$248.23
Days on Market165
Property Features for 8212 N DENVER Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CM2
Subdivision
Kenton
Elementary school
Peninsula
Middle school
Ockley Green
High school
Jefferson
Directions
N Denver & N Kilpatrick
Standard status
Active
APN
R196181
Size
14,100 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
KENTON, BLOCK 3, LOT 35&36
Tax Annual Amount
16972
Legal Description
KENTON, BLOCK 3, LOT 35&36
Building Details
Year built
1911
Floors in Building
3
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Evan Nelson · License #201206804
(310) 422-6044
Added: Feb 18
Changed: May 19
Last Checked: Aug 2 at 10:06AM
MLS# 678823640
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in the Kenton neighborhood of North Portland, this mixed-use property presents an investment opportunity. The property has been extensively remodeled since 2018. The main level features three fully leased commercial spaces, occupied by a restaurant, a salon, and a record shop. These street-facing storefronts benefit from high visibility and foot traffic along N Denver Ave. Each commercial unit is individually metered. The second floor includes 11 residential units, featuring two one-bedroom apartments with full bathrooms and kitchenettes, and nine micro units. These include one double-sized micro unit with an in-unit kitchenette, seven standard micro units with kitchenettes (cabinetry, shelving, sinks, mini fridges), and one streamlined unit without a kitchenette. Residents have access to a large common kitchen and dining space, an enclosed grilling area with built-in BBQ, seating, and gas fire pit, plus a rear deck with seating and elevated views. Additional conveniences include a washer/dryer closet, two powder rooms, and two dedicated shower rooms. A spacious, mostly open basement includes three secured storage units, with room for additional build-out. The property is located in a walkable, bike-friendly area near transit, parks, and local businesses. The property is suitable for investors or owner-users seeking income, flexibility, and long-term value.
Key Highlights
- Strong income potential from fully leased commercial spaces and residential units.
- Extensively remodeled since 2018, offering modern appeal.
- Prime location in the vibrant Kenton neighborhood with high visibility and foot traffic.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $338.4k | $24.00 |
| − Vacancy | −$33.8k | −$2.40 |
| EGI | $304.6k | $21.60 |
| − OpEx | −$114.2k | −$8.10 |
| NOI | $190.4k | $13.50 |
14,100 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.72M
$2.38M – $3.17M
NOI $190,350 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$2.59M
$2.26M – $3.02M
NOI $181,044 @ 7.0% cap · market cap 5.17%
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
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
Properties on Market for Mixed-use properties in Portland
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 property with retail and residential units in Portland.
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: Strong income potential from fully leased commercial spaces and residential units.; Extensively remodeled since 2018, offering modern appeal.; Prime location in the vibrant Kenton neighborhood with high visibility and foot traffic.
