Two-Story Mixed-Use Creative
For Sale
Contact for pricing
916 Southeast 34th Avenue, Portland, OR 97214
CM1-zoned property with art studios, a pottery gallery, wine bar, and shared kitchen.
Property Size9,699 SF
Price / SF$154.14
Days on Market110
Property Features for 916 Southeast 34th Avenue
General Information
Standard status
Active
Size
9,699 SF
Class
C
Property subtype
Retail, Office
Zoning
CM1
Investment Type
Owner/User
Amenities
shared kitchen
mezzanines
high ceilings
fenced and gated parking lot
Building Details
Buildings
3
Stories
2
Construction
exposed wood beams
Tenancy
Multi
Listing Agency:
Cloud City Realty
(971) 339-1456
Listed By:
Eli Haworth-Kaufka · License #OR 201108051
Source:
Crexi
Added: May 14
Changed: Aug 31
Last Checked: Aug 31 at 1:06AM
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 Cloud City Realty
Investment Insights
Based on property information with market context.
This 9,699-square-foot mixed-use property comprises three connected structures arranged across two stories. The layout includes approximately 10 individual spaces, a shared kitchen, and four bathrooms with both private and common facilities. Existing short-term occupants include art studios, a pottery gallery, a wine bar, and other local creative businesses. Interior details include exposed and oversized wood beams, metal crane beams, select high ceilings, and mezzanines. The improvements are partially renovated, with a fenced and gated parking lot serving the property. CM1 zoning is in place.
The property is located at 916 Southeast 34th Avenue in Portland, near the intersection with Southeast Yamhill Street. Nearby destinations identified in the property information include Sunnyside Elementary, Stumptown Coffee, H-Mart, and a range of restaurants, cafés, bars, and shops.
The property is located at 916 Southeast 34th Avenue in Portland, near the intersection with Southeast Yamhill Street. Nearby destinations identified in the property information include Sunnyside Elementary, Stumptown Coffee, H-Mart, and a range of restaurants, cafés, bars, and shops.
Key Highlights
- 9,699‑square‑foot mixed‑use property with three connected structures
- Two‑story layout with approximately 10 individual spaces
- Shared kitchen and 4 bathrooms, including private and common facilities
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
$130,937
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
8.76%
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%
$2,618,740
$2.6M
Cap Rate 7%
$1,870,529
$1.9M
Cap Rate 9%
$1,454,856
$1.5M
Market Conditions
NOI Build-Up for 9,699 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
$232.8K $24.00/SF
− Vacancy
−$23.3K −$2.40/SF
EGI
$209.5K $21.60/SF
− OpEx
−$78.6K −$8.10/SF
NOI
$130.9K $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%
$2,618,740
Cap Rate 7%
$1,870,529
Cap Rate 9%
$1,454,856
Alternative Uses
Best Use
Mixed Use
$1.87M
$1.64M – $2.18M
NOI $130,937 @ 7.0% cap · market cap 8.76%
Second Best
Office B
$1.79M
$1.57M – $2.09M
NOI $125,551 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,660 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CM1-zoned property with art studios, a pottery gallery, wine bar, and shared kitchen.
Where is this mixed-use property located?
The property is located at 916 Southeast 34th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 9,699‑square‑foot mixed‑use property with three connected structures; Two‑story layout with approximately 10 individual spaces; Shared kitchen and 4 bathrooms, including private and common facilities
