1103 7th Ave, Portland, OR 97214-2468
- Retail space
- 6,000 SF
- 0.23 lot acres
Current Use by Public Records
- Mr. Formal Portland / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store
Property Details for 1103 7th Ave
- Year built
- 1953
- Lot size
- 0.23 lot acres
- Zone code
- IG1
- Property type
- Retail space
- APN
- 1S1E02BC 02400
- APU
- 1S1E02BC02400
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 24, 2025 | — | Pnb Properties LLC | — | Deed · related | $581k · The Mortgage Capital Development Corp |
| Dec 19, 2025 | — | Pcj Enterprises LLC | Pnb Properties LLC | Deed | — |
| Dec 19, 2025 | $1,400,000 | Pnb Properties LLC | Taylor7 LLC | Warranty Deed | $700k · Beneficial State Bank |
| Dec 12, 2017 | $1,200,000 | Taylor 7 LLC | Edwin E Honeycutt | Warranty Deed | — |
| Nov 13, 2017 | — | Honeycutt Family Trust | — | Deed · related | — |
| Nov 4, 2016 | — | Honeycutt Family Trust | — | Deed · related | — |
| Nov 26, 2014 | — | Honeycutt Family Trust | — | Loan Modification · related | $1.6M · Us Bk |
| Sep 23, 2009 | — | Honeycutt Family Trust | Honeycutt Properties LLC | Quit Claim Deed | — |
| Mar 11, 2003 | — | Honeycutt Properties LLC | — | Deed Of Trust · related | $1.4M · Bank Of The West |
| Aug 13, 2002 | — | Honeycutt Properties LLC | Honeycutt,edwin E | Quit Claim Deed · related | — |
| Jan 6, 1999 | — | Properties Honeycutt | — | Deed Of Trust · related | $1.3M · Individual |
| Aug 4, 1997 | $425,000 | Properties Honeycutt | Braden Investment Co | Grant Deed | — |
| — | — | Honeycutt Family Trust | — | Loan Modification · related | — |
| — | — | Honeycutt Properties LLC | — | Deed Of Trust · related | $1.6M · Obb Partners II LLC |
| — | — | Honeycutt Family Trust | — | Loan Modification · related | — |
| — | — | Honeycutt Family Trust | — | Loan Modification · related | — |
| — | — | Properties Honeycutt | — | Deed Of Trust · related | $273k · Us Bank |
Description
This Portland, Oregon storefront presents a compelling investment opportunity. The 6,000-square-foot property, located at 1103 SE 7th Ave in Multnomah County (zip code 97214), is currently 100% occupied by Mr. Formal, under a triple-net (NNN) lease commencing January 1, 2018. The single-tenant building sits on a 10,000-square-foot lot and boasts ten dedicated parking spaces. Built in 1953, this one-story structure is zoned IG1 and offers a strong cap rate of 6.38%, generating a net operating income (NOI) of $102,101. The asking price is $1,600,000, translating to $260 per square foot and $160 per square foot for the land. Its prime location, two blocks from OR-99 (a major thoroughfare with 51,573 vehicles per day), within a high-spending Portland district ($817.1 million in annual consumer spending), makes this an attractive owner-user or passive investment opportunity. This exceptional property offers a stable income stream and significant potential for future growth. The property is an ideal investment for those seeking a strong return in a vibrant Portland market.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,887,000
- AI Estimate
- $1,887,000
Market price range: $917k - $2.69MMarket price range: $917k - $2.69M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,930,000 Current use
- RESTAURANT
- $2,055,000 Change: +6% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,830,000 Change: -5% Conversion: Difficult
- MEDICAL BUILDING
- $1,810,000 Change: -6% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,775,000 Change: -8% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,740,000 Change: -10% Conversion: Easy
- OFFICE BUILDING
- $1,735,000 Change: -10% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.659
- Latitude
- 45.5149
- CBSA code
- 38900
- CBSA name
- PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
