Price cut −8%
$9,315,000
6.5% cap · 28,480 sq ft RBA · Class B
5829 N Mississippi Ave
Portland, OR 97205
Listed 5 months ago$327/sq ft
01 / 07
Price cut −5%PendingRetail
$10,105,000
2079 NE Fremont St
Alberta Arts District · Portland, OR 97209
$374/sq ft94 days on market2.3K views60 saves
Key facts
- Interior
- 27,020 sq ft
- Lot
- 1.48 acres
- Year built
- 1972
- Property type
- Retail
- Price / sq ft
- $374/sq ft
- Annual taxes
- $106,100
- Days on market
- 94
Getting around
Walk Score80
Very Walkable
Transit Score72
Excellent Transit
Bike Score89
Very Bikeable
About this property
Value-add retail property in Alberta Arts District with below-market rents rolling inside the next cycle. Current NOI supports the 7.8% going-in yield with room above it as leases reset. Seller will consider a structured sale-leaseback.
Investment summary
Investment summary
Cap rate
7.80%
Net operating income ÷ price
Net operating income
$788,190
Annual, after operating expenses
Cash-on-cash
+6.7%
$201,730 annual cash flow on $3,031,500 equity
Occupancy66%
17,833 sq ft leased of 27,020 sq ft
- Tenants
- 5
- Rentable area
- 27,020 sq ft
- Price / sq ft
- $374/sq ft
- WALE
- 4.1 yrs
- Lease type
- NNN
- Building class
- Class C
- Zoning
- NS-1
- Parking
- 91 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $586,460 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Systems & Efficiency
- Sprinkler System
Parking & Access
- On-Site Parking
Highlights
- Highway Frontage
- Corner Visibility
- Drive-Thru
- Recent Capital Improvements
- NNN Leases in Place
- 24/7 Card Access
- Below-Market Rents
- Value-Add Upside
Price history
Every listing event recorded for this property.
- Listed
- Price cut
- Pending
- Sold
| Date | Event | Price |
|---|---|---|
| 2015-12-06 | Sold | $6,849,000 |
| 2026-04-22 | Listed | $10,605,000 |
| 2026-05-08 | Price cut | $10,468,000 |
| 2026-05-27 | Price cut | $10,105,000 |
| 2026-07-24 | Pending | $10,105,000 |
Location
Alberta Arts District, Portland — Multnomah County
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Approximate location · Alberta Arts District
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Estimated monthly
$62,355/mo
- Principal & interest81%$50,566
- Property tax14%$8,842
- Home insurance5%$2,947
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
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Term
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Loan amount $8,084,000 · 30 yr · 6.40%
