Restaurant and Karaoke
For Sale
$1,900,000
Portland, OR 97232, Portland, OR 97232
CommercialSale, Portland, OR
Property Size9,847 SF
Lot Size0.27 Acres
Price / SF$192.95
Days on Market148
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CG
Subdivision
_142
Standard status
Active
Size
9,847 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
22834
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1921
Building materials
Brick, Concrete
Roof type
Composition
Listing Agency:
Windermere Community Realty
(503) 249-1706
Listed By:
Tim Wei · License #930400088
(503) 349-1981
Added: May 15
Changed: Oct 8
Last Checked: Oct 9 at 9:06AM
MLS# 710545478
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,847-square-foot restaurant property includes lounge and karaoke uses. The building dates to 1921 and has brick and concrete construction, forced-air heat, central air conditioning, and a composition roof.
The 0.27-acre property comprises two tax lots, with parking on one lot for up to 16 cars. It is zoned CG and located in Portland, Oregon.
The 0.27-acre property comprises two tax lots, with parking on one lot for up to 16 cars. It is zoned CG and located in Portland, Oregon.
Key Highlights
- 9,847‑square‑foot restaurant property with lounge and karaoke uses
- Two tax lots totaling 0.27 acres
- Parking lot accommodates up to 16 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,580
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,651,600
$2.7M
Cap Rate 7%
$1,894,000
$1.9M
Cap Rate 9%
$1,473,111
$1.5M
Market Conditions
NOI Build-Up for 9,847 SF
Gross rent
$189.1K $19.20/SF
− Vacancy
−$12.3K −$1.25/SF
EGI
$176.8K $17.95/SF
− OpEx
−$44.2K −$4.49/SF
NOI
$132.6K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,651,600
Cap Rate 7%
$1,894,000
Cap Rate 9%
$1,473,111
Alternative Uses
Best Use
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,580 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,570 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,137
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The operating venue combines restaurant service, lounge space, and karaoke.
Where is this conventional restaurant located?
The property is located at Portland, OR.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 9,847‑square‑foot restaurant property with lounge and karaoke uses; Two tax lots totaling 0.27 acres; Parking lot accommodates up to 16 cars
