2816-2820 NE Halsey Street
Long-Term NNN Income | Prime Investment Opportunity
About Property
Listing Details
- Asking Price $1,240,000
- Cap Rate 7.14%
- Net Rentable Area 3,020 RSF
- Property Type Commercial Mixed Use and Residential
- Total Land Area 0.12 AC / 5,100 Sq Ft Lot
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Location
2816-2820 NE Halsey Street
Portland, Oregon 97232 - Year Built / Renovated 1956 / 2014
- Occupancy 100%
- Parking Spaces 2 in the Loading Area
About this Property
Fully renovated in 2014 and meticulously maintained by a reputable local owner, the building is in excellent condition, including the two professionally equipped commercial kitchens. The ground floor features production kitchen spaces leased to established businesses on market-rate, 3-year NNN (triple net) leases—delivering reliable, long-term cash flow. Above, a leased residential apartment adds income stability and balance, making this property attractive to both commercial and residential investors. Additional highlights include ADA-compliant restrooms, covered parking, and a private backyard. Ideally located in the sought-after NE Broadway / Irvington neighborhood—just steps from Fred Meyer—this high-visibility property sits in a vibrant, high-demand corridor of NE Portland with excellent foot traffic and surrounding amenities.
Property & Location Details
Floor Plans
Tenant Profiles
CatScratch Vegan Bakery & Capriotti's Sandwich Shop
CatScratch Co-Op Vegan Bakery is a community-oriented cooperative of 13 experienced worker-owners who wholesale quality vegan baked goods to local businesses, markets, and cafes (Stumptown Coffee Roasters, Lei Brilla, Gilder, and Mirisata). They offer delivery services to business subscribers and sell freshly baked treats from their storefront.
Capriotti's Sandwich Shop is owned by power couple Dale and Connie Campbell, who are experienced franchisees driving success at this top-rated sandwich shop. Campbells operate 4 locations, as trusted operators of Capriotti's 50-year -old national brand, which boasts 175 locations. This Portland shop has built a loyal customer base and consistently earns high ratings on delivery platforms like DoorDash, Uber Eats, and Grubhub for fast, friendly service and a personalized customer experience.
Demographics
Irvington / Sullivan's Gulch Neighborhood Overview
Situated in one of Portland's most established and desirable eastside corridors, the Irvington and Sullivan's Gulch neighborhoods offer a compelling blend of historic character, urban convenience, and sustained commercial demand. The area is characterized by a vibrant mix of residential density, locally owned businesses, and neighborhood-serving retail, creating a strong foundation for long-term investment stability.
The property benefits from exceptional connectivity, with immediate access to Interstate 84, major arterial streets, and multiple public transportation options, providing convenient access to Downtown Portland, the Lloyd District, and Portland International Airport. The surrounding neighborhoods feature a diverse demographic base, including professionals, longtime residents, and a growing population seeking walkable, amenity-rich urban living.
Irvington is renowned for its tree-lined streets, architecturally significant homes, and strong neighborhood identity, while Sullivan's Gulch has evolved into one of Portland's emerging mixed-use corridors, attracting new investment and adaptive redevelopment. Nearby destinations, including the Lloyd Center area, the Broadway-Weidler commercial corridor, and numerous restaurants, breweries, and neighborhood amenities, contribute to consistent pedestrian activity and consumer demand.
This highly accessible infill location offers investors the opportunity to acquire an asset in a supply-constrained submarket with enduring appeal, strong demographic fundamentals, and proximity to some of Portland's most dynamic residential and commercial districts.
| Traffic Count (At NE 28th and Weidler) | Population | Households | Average Household Income | Median Age |
|---|---|---|---|---|
| 2,327 | 29,321 | 14,381 | $146,460 | 41.26 |
Property Details
North Rim is pleased to offer the extraordinary opportunity to acquire the fee simple interest in 2816-2820 NE Halsey Street, a mixed-use property in Portland, Oregon.
This turnkey asset has two fully equipped production kitchens on the ground level and a well-appointed two-bedroom apartment on the second level, totaling 3,020 rentable square feet. Originally constructed in 1956, the property underwent a thoughtful and comprehensive redeveloped in 2014 and since has been professionally managed by a respected local operator.
The property is stabilized by three long-term triple-net (NNN) leases, offering investors predictable cash flow and minimal management responsibilities. With an asking price of $1,240,000 and an attractive 7.13% capitalization rate, this asset presents a compelling opportunity to acquire a high-performing, income-producing property in one of Portland's established urban neighborhoods.
Investment Highlights
- Asking Price: $1,240,000
- Cap Rate: 7.13%
- Net Rentable Area: 3,020 SF
- Three Long-Term NNN Leases in Place
- Two Commercial Production Kitchens
- Two-Bedroom Residential Unit
- Professionally Managed and Fully Stabilized
