721 21st Ave, Unit 727 Portland, OR 97209-1304
Property profile & analytics
721 21st Ave, Unit 727 Portland, OR 97209-1304
- Turn key restaurants
- 2,500 SF
- 0.11 lot acres
Property ID
US71-0706692
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- The Venderia at NW 21st / Electronics Vending Machine
- Cardtronics ATM / Atm
- Twenty First Ave Kitchen & Bar / Restaurant
Property Details for 721 21st Ave
- Year built
- 1914
- Lot size
- 0.11 lot acres
- Property size
- 2,500 SF
- Zone code
- CS
- Property type
- Turn key restaurants
- APN
- 1N1E33BD 10100
- APU
- 1N1E33BD10100
Description
This exceptional 2,500 square foot restaurant and bar, located at 721 NW 21st Ave in Portland, Oregon's desirable Northwest district, presents a rare investment opportunity. Built in 1914, the property sits on a 5,000 square foot lot and is zoned C2. The asking price is $1,101,000, reflecting a price per square foot of $440.40 and a pro-forma cap rate of 6.13%. The property boasts a strong pro-forma net operating income (NOI) of $67,491. Situated between NW Lovejoy and NW Glisan, this location offers unparalleled exposure in a vibrant retail corridor known for its eclectic mix of shops, restaurants, and cafes, attracting both locals and tourists. The Northwest submarket has shown remarkable performance over the past three years, with average transaction cap rates at 5.2%, and limited availability (only 13 sales since January 1, 2022, with just one in the past year) makes this a highly desirable off-market opportunity. Favorable economic conditions, including a strong labor market and gradually declining inflation, further enhance the investment potential. This property offers a unique blend of established business and prime real estate in a thriving Portland neighborhood.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $651,000
- AI Estimate
- $651,000
Market price range: $482k - $1.24MMarket price range: $482k - $1.24M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $855,000 Current use
- COMMERCIAL (GENERAL)
- $830,000 Change: -3% Conversion: Easy
- AUTO REPAIR, GARAGE
- $765,000 Change: -11% Conversion: Difficult
- MEDICAL BUILDING
- $755,000 Change: -12% Conversion: Difficult
- RETAIL STORES
- $750,000 Change: -12% Conversion: Easy
- OFFICE BUILDING
- $725,000 Change: -16% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.695
- Latitude
- 45.5281
- CBSA code
- 38900
- CBSA name
- PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$7,337
$0.00
$0.00
$277,160
-
$550,170
$593,660
$1,143,830
