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    255 10Th Ave Portland, OR 97209

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    For Lease
    Contact for pricing

    Prime Portland Retail & Restaurant Space

    Lot size:
    199,000 SF

    Property Features for 255 10Th Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    199,000 SF
    Total Rate
    613583.33

    Building Details

    Year Built
    2020

    Spaces For Lease

    at 255 10Th Ave, Portland, OR 97209 Contact us
    Unit Suite 3

    $38 /Mo

    Size
    1,915 SF
    Contact us
    Unit Suite 1

    $37 /Mo

    Size
    3,198 SF
    Contact us

    We can help!

    Listing Contact
    Michelle Rozakis
    Michelle Rozakis

    Listing Agency: Capacity Commercial Group Listing Agent: Michelle Rozakis

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

    Learn more

    Property Insight Report

    Overview

    This exceptional mixed-use building, The Gossamer, located at 255 NW 10th Ave in Portland, Oregon's vibrant Pearl District, offers a unique opportunity for retail and restaurant businesses. Built in 2020, the 199,000 square foot building features multiple tenancies, with spaces ranging from a minimum of 1,915 square feet to a maximum contiguous space of 3,198 square feet. Currently, 5,113 square feet of space is available. One immediately available suite, totaling 1,915 square feet, is ideal for retail or service-based businesses and is listed at $38 per square foot, NNN. Another suite, perfect for a restaurant or café, offers 3,198 square feet and is available in 30 days at a rate of $37 per square foot, NNN. The building's modern design and prime location within the bustling Pearl District provide unparalleled visibility and access to a high-density population of residents and visitors. This is an exceptional opportunity to establish a presence in one of Portland's most sought-after commercial areas. The zip code is 97209. Please note that one suite is currently leased to Orangetheory. This property presents a rare chance to secure a prominent space in a thriving, dynamic neighborhood.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Gossamer Real Estate Agency Pink Martini Nail ... Nail Salon Semaglutide Portland Weight Loss Service

    Suggested Use

    Restaurant Real Estate Agency Dental Office Hair Salon Spa & Massage Center Nail Salon Food Market Grocery & Convenience Store Law Firm Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.68222462
    Latitude
    45.52511327

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    FAQs

    What type of property is this?
    Restaurant - Prime Portland Retail & Restaurant Space
    Where is this restaurant located?
    The property is located at 255 10Th Ave Portland, OR.
    What is the lease rate?
    The lease rate is $37-$38 SF/Yr.
    What are key features of this property?
    This property features: Ground-floor retail space available for lease.; Ideal for restaurant, café, retail, service, or medical tenants.; High visibility with extensive frontage on NW 10th, NW Davis, and NW Everett Streets, offering excellent signage opportunities.
    (503) 222-0755 Call to check price and availability
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    255 10Th Ave Portland, OR 97209
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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
    255 10Th Ave Portland, OR 97209
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    Contact for Pricing
    Please call us for current price
    and status of this listing Michelle Rozakis
    Michelle Rozakis
    Real Estate License ID: 200512190
    (503) 222-0755 (503) 326-9000
    Learn more
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