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    1458 Alberta St Portland, OR 97211

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    Portland, OR: 5-unit, high-return investment

    Property size:
    2,834 SF

    Property Features for 1458 Alberta St

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,834 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1998/2008
    Buildings
    1
    Stories
    2
    Units
    5

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    Listing Contact
    James Gillespie
    James Gillespie

    Listing Agency: Keller Williams Portland Central Listing Agent: James Gillespie

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional mixed-use property, located at 1458 NE Alberta St in Portland, Oregon's vibrant Alberta Arts District, presents a compelling investment opportunity. The 2,834 square foot building, constructed in 1998 and renovated in 2008, boasts a desirable corner lot within a thriving retail and mixed-use area. The property features a diverse tenancy including a long-term ground floor restaurant tenant (Fuel Cafe, since 2011) operating under a NNN lease covering 66% of taxes, insurance, and repairs. Four residential units occupy the upper floor, with two tenants residing since 2014 and 2018 respectively. The building is currently 100% occupied, generating a strong Net Operating Income (NOI) of $68,631, representing a 4.36% cap rate. Pro-forma NOI is projected at $82,798, yielding a 5.26% cap rate. The property includes five units in total, spread across two stories, and sits on a 2,500 square foot lot. The permitted zoning is CM2. Rent bumps are in place, ensuring future income growth. This stabilized investment, classified as Class B, offers a compelling combination of established income and significant upside potential. The asking price is $1,575,000, translating to $555.75 per square foot. The property's excellent condition, prime location, and strong tenant base make it an ideal addition to any portfolio. APN: P240221. Suitable for a 1031 exchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mister OK's Essentials Home Decor Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.6505276
    Latitude
    45.5589341

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    FAQs

    What type of property is this?
    Multifamily property - Portland, OR: 5-unit, high-return investment
    Where is this multifamily property located?
    The property is located at 1458 Alberta St Portland, OR.
    What is the asking price?
    The asking price for this property is $1,575,000.
    What are key features of this property?
    This property features: Excellent corner lot mixed-use investment opportunity in the Alberta Arts District.; High-growth potential in a vibrant, established neighborhood.; Strong tenant base with upside potential for rental income.
    (503) 496-5151 Call to check price and availability
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    1458 Alberta St Portland, OR 97211
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    Portland, OR 97211
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1458 Alberta St Portland, OR 97211
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    Contact for Pricing
    Please call us for current price
    and status of this listing James Gillespie
    James Gillespie
    Real Estate License ID: 900800253
    (503) 496-5151 (971) 222-1571 (503) 548-4848
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