Mixed-Use Property with
For Sale
$698,000
8325-8329 Southeast Division Street, Portland, OR 97216
Two-building asset combines street-level office and retail space with four rented apartment units.
Property Size4,500 SF
Price / SF$155.11
Days on Market546
Property Features for 8325-8329 Southeast Division Street
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
6
Property subtype
Multi Family
Zoning
CM2
Property Condition
Severity
Teardown
Evidence
tear down and build new
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,456
Amenities
2
Unfinished
Wood Siding
Building Details
Year Built
1955
Buildings
2
Tenancy
Multi
Listing Agency:
Elite Realty & Associates LLC
(503) 544-1196
Listed By:
Connie Brockway · License #201210511
(503) 544-1196
Source:
Compass
Added: Mar 3, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:53AM
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 Elite Realty & Associates LLC
Investment Insights
Based on property information with market context.
This two-building mixed-use property includes 1,431 square feet of office and retail space at street level in the primary building, with two rented apartment units on the floor above. That building also contains roughly 1,000 square feet of basement area. The second building adds two more rented apartments and a small basement. Wood siding and unfinished basement areas are noted among the property features, and the improvements were built in 1955.
Located at 8325-8329 Southeast Division Street in Portland, the property is zoned CM2 and includes both the yellow and gray buildings. The improvements are being sold as-is and require renovation. Attached plans outline a potential redevelopment approach involving removal of the existing structures and new construction. Property square footage should be independently verified, and access is by appointment to avoid disturbing tenants.
Located at 8325-8329 Southeast Division Street in Portland, the property is zoned CM2 and includes both the yellow and gray buildings. The improvements are being sold as-is and require renovation. Attached plans outline a potential redevelopment approach involving removal of the existing structures and new construction. Property square footage should be independently verified, and access is by appointment to avoid disturbing tenants.
Key Highlights
- 1,431 SF office/retail space at street level
- Four rented apartment units across two buildings
- Roughly 1,000 sq ft of basement space in the first building
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
$60,750
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
8.70%
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%
$1,215,000
$1.2M
Cap Rate 7%
$867,857
$867.9K
Cap Rate 9%
$675,000
$675.0K
Market Conditions
NOI Build-Up for 4,500 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
$108.0K $24.00/SF
− Vacancy
−$10.8K −$2.40/SF
EGI
$97.2K $21.60/SF
− OpEx
−$36.5K −$8.10/SF
NOI
$60.8K $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%
$1,215,000
Cap Rate 7%
$867,857
Cap Rate 9%
$675,000
Alternative Uses
Best Use
Mixed Use
$867.9K
$759.4K – $1.01M
NOI $60,750 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$825.4K
$722.3K – $963.0K
NOI $57,780 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,460 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 97216, OR
17,488
Population
7,235
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,995
Density / Sq Mi
$71,951
Median Household Income
$42,537
Median Earnings
$1,390
Median Rent
$439,000
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 - Two-building asset combines street-level office and retail space with four rented apartment units.
Where is this mixed-use property located?
The property is located at 8325-8329 Southeast Division Street Portland, OR.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: 1,431 SF office/retail space at street level; Four rented apartment units across two buildings; Roughly 1,000 sq ft of basement space in the first building
