Retail Condo Building with Multiple
922 NW 11th Ave Portland, OR 97209
For Sale
Contact for pricing
Retail condo in Portland’s Pearl District with three available suites totaling 8,951 SF.
Property Size15,203 SF
Price / SF$279.55
Days on Market128
Property Features for 922 NW 11th Ave
General Information
Standard status
Active
Size
15,203 SF
Property subtype
RETAIL
Listing Agency:
Northmarq Commercial, LLC
(206) 550-1557
Listed By:
Sean Tufts
(206) 550-1557
Source:
Moodyscre
Added: Mar 25
Changed: Jul 27
Last Checked: Jul 29 at 12:54PM
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 Northmarq Commercial, LLC
Investment Insights
Based on property information with market context.
This retail condo totals 15,203 SF and includes 8,951 SF of available space across three suites. The property is currently 41% leased to three tenants: Lovejoy Bakers, Alchemy Jeweler, and US Bank. Lovejoy Bakers has been in operation for 10+ years at this location, while Alchemy Jeweler and US Bank have both been in operation for 20+ years. US Bank has a recent 5-year extension, supporting continued institutional-credit occupancy.
Located at 922 NW 11th Ave in Portland’s Pearl District, the asset is part of The Blocks mixed-use portfolio, which includes 10 buildings and approximately 94,000+ SF of retail. The surrounding area is supported by an estimated 1,200 nearby residential condo units and walkable density.
With multiple suites and significant available square footage, the configuration offers flexibility for an owner-user looking to occupy while leasing remaining space, as well as for re-leasing opportunities or suite reconfiguration.
Located at 922 NW 11th Ave in Portland’s Pearl District, the asset is part of The Blocks mixed-use portfolio, which includes 10 buildings and approximately 94,000+ SF of retail. The surrounding area is supported by an estimated 1,200 nearby residential condo units and walkable density.
With multiple suites and significant available square footage, the configuration offers flexibility for an owner-user looking to occupy while leasing remaining space, as well as for re-leasing opportunities or suite reconfiguration.
Key Highlights
- 15,203 SF retail condo in Portland’s Pearl District as part of The Blocks mixed‑use portfolio
- 8,951 SF available across three suites, offering space for owner‑user occupancy or re‑tenanting
- Currently 41% leased to Lovejoy Bakers, Alchemy Jeweler, and US Bank
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $291.9k | $19.20 |
| − Vacancy | −$19.0k | −$1.25 |
| EGI | $272.9k | $17.95 |
| − OpEx | −$68.2k | −$4.49 |
| NOI | $204.7k | $13.46 |
15,203 SF · lease $19.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.92M
$2.56M – $3.41M
NOI $204,693 @ 7.0% cap · market cap 4.82%
Second Best
Retail
$2.53M
$2.21M – $2.95M
NOI $177,191 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$4.27M
$3.74M – $4.98M
NOI $298,856 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Retail condo in Portland’s Pearl District with three available suites totaling 8,951 SF.
Where is this retail space located?
The property is located at 922 NW 11th Ave Portland, OR.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 15,203 SF retail condo in Portland’s Pearl District as part of The Blocks mixed‑use portfolio; 8,951 SF available across three suites, offering space for owner‑user occupancy or re‑tenanting; Currently 41% leased to Lovejoy Bakers, Alchemy Jeweler, and US Bank
