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    1458 Alberta St Portland, OR 97211

    For Sale
    $1,575,000

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

    Property size:
    2,834 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    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 Features for 1458 Alberta St

    General Information

    Property type
    Restaurants
    Square Feet
    2,834 SF
    Class
    B

    Building Details

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

    HighLights

    • 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.
    • Prime location with high visibility and foot traffic.
    • Desirable mixed‑use zoning allows for flexibility and future expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mister OK's Essentials Candle Store

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    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?
    Restaurant - Portland, OR: 5-unit, high-return investment
    Where is this restaurant 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.
    Request Owner's contact information
    1458 Alberta St Portland, OR 97211
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    Portland, OR 97211
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    Realmo Value Estimation

    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.

    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.

    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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