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This exceptional mixed-use property, located at 1458 NE Alberta St in Portland, Oregon's vibrant Alberta Arts District, presents a compelling investment opportunity. The 2,834 square foot building, constructed in 1998 and renovated in 2008, boasts a desirable corner lot within a thriving retail and mixed-use area. The property features a diverse tenancy including a long-term ground floor restaurant tenant (Fuel Cafe, since 2011) operating under a NNN lease covering 66% of taxes, insurance, and repairs. Four residential units occupy the upper floor, with two tenants residing since 2014 and 2018 respectively. The building is currently 100% occupied, generating a strong Net Operating Income (NOI) of $68,631, representing a 4.36% cap rate. Pro-forma NOI is projected at $82,798, yielding a 5.26% cap rate. The property includes five units in total, spread across two stories, and sits on a 2,500 square foot lot. The permitted zoning is CM2. Rent bumps are in place, ensuring future income growth. This stabilized investment, classified as Class B, offers a compelling combination of established income and significant upside potential. The asking price is $1,575,000, translating to $555.75 per square foot. The property's excellent condition, prime location, and strong tenant base make it an ideal addition to any portfolio. APN: P240221. Suitable for a 1031 exchange.
Highlights
Excellent corner lot mixed-use investment opportunity in the Alberta Arts District.
High-growth potential in a vibrant, established neighborhood.
Strong tenant base with upside potential for rental income.
Prime location with high visibility and foot traffic.
Desirable mixed-use zoning allows for flexibility and future expansion.
Property Details
for 1458 Alberta St
Property type
Other retail properties, Restaurants
Square Feet
2,834 SF
Class
B
Year Built/Renovated
1998/2008
Buildings
1
Stories
2
Units
5
Location Insight
City
Portland
County
Multnomah
State
Oregon
Latitude
45.5589341
Longitude
-122.6505276
1458 Alberta St, Portland, Oregon
Nearby Similar for Sale
For Sale
$1,390,000
Portland Mixed-Use Investment Opportunity
Prime location, renovated building, high rental income.
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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