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Property profile

721 21st Ave 727 Portland, OR 97209

OFF-MARKET
Turn key restaurants
Property ID
US71-0706692
2,500 SF 0.11 ac lot Built 1914
Last sale Jan 2004 · $325,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 22-yr Hold Held for 22 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

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…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$7k
Tax billed · 2023
Assessed value$277k
Effective rate2.65%

Value estimate

· Nov 2026
$325k
$293k – $358k
Submarket $/SF estimate$651k

Realmo valuation models over county records and 6 qualifying comparable sales.

Recently sold

What actually traded nearby?
$342/SF
Submarket average, outlier-cleaned · 94 recorded sales of this use type
Observed band · Q1–Q3$193 – $494
Qualifying comparables6

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
CS
JurisdictionMULTNOMAH

Location intelligence

Which uses thrive at this corner?
Best fit: Laundromat
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Laundromat10.7
Daycare Center9.5
Laundry Service7.3

Location

721 21st Ave, Unit 727 Portland, OR 97209-1304
County assessor Recorded deeds · 2 transfers 6 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1933 Burnside, Portland, OR 97209-1908 $1,700,000 Dec 2025 2,469 SF
1639 Marshall, Portland, OR 97209-2406 $1,150,000 Jul 2025 2,686 SF
1200-1208 Glisan, Portland, OR 97209 $1,500,000 May 2023 2,500 SF
222-224 Burnside, Portland, OR 97209 $1,250,000 Oct 2022 2,960 SF
511 21st, Portland, OR 97209-1105 $1,700,000 Dec 2021 2,500 SF
1212 Glisan, Portland, OR 97209-3015 $1,100,000 Dec 2020 2,500 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Research This Page with AI

Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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