1103 7th Ave Portland, OR 97214-2468
Property summary
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.
Property profile
VerifiedCap rate & NOI
Current use
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(Bike/Boat/Book/etc) Store Clothing & Fashion Store
Value estimations
Owner & transaction history
Zoning & alternative use
The General Industrial zones are two of the three zones that implement the Industrial Sanctuary map designation of the Comprehensive Plan. The zones provide areas where most industrial uses may locate, while other uses a…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
IG1 · Portland, ORThe General Industrial zones are two of the three zones that implement the Industrial Sanctuary map designation of the Comprehensive Plan. The zones provide areas where most industrial uses may locate, while other uses a…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for IG1 in Portland, OR.
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Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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