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2816 NE Halsey St 3,020 SF 100% Leased Retail Building Portland, OR 97232 $1,240,000 ($410.60/SF) 7% Cap Rate
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- Turnkey investment with two ground-level 3-year NNN retail leases and added rental income from a second-floor two-bedroom, one-bathroom apartment.
- Serving an affluent population of over 29,000 people within 1 mile with an average household income of over $146,000.
- Renovated in 2014 with two state-of-the-art commercial production kitchen storefronts that are meticulously maintained by a reputable local owner.
- Tenants can take advantage of privately fenced backyard and covered parking in a high-demand corridor of Northeast Portland with excellent foot.
EXECUTIVE SUMMARY
North Rim is proud to present this turnkey mixed-use property, a rare and compelling investment opportunity at 2816–2820 Northeast Halsey Street. Offering immediate, diversified income from both commercial and residential tenants that fully occupy the building. 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, three-year NNN leases delivering immediate, reliable, and long-term cash flow. Catscratch Vegan Bakery occupies 1,200 square feet of ground-level space, while Capriotti’s occupies the other 970 square feet of first-floor space. Covered parking and loading, plus a small outdoor area, are other amenities of the lower spaces. Above, a leased two-bedroom, one-bathroom residential apartment adds income stability and balance, making this property attractive to both commercial and residential investors.
Suite 2186 features an 8-foot by 6-foot walk-in cooler, an 8-foot exhaust hood, two convection ovens, and additional dry storage space. Suite 2818 features a walk-in cooler, deep fryer, and two Atosa freezer units. Additionally, the property includes ADA-compliant restrooms, covered parking, and a spacious private backyard.
The building is strategically located just blocks away from NE Broadway and 33rd Avenue. It is also 0.5 miles from Interstate 84 and 2 miles from Highway 205. Ideally located in the sought-after Northeast Broadway Irvington neighborhood, just steps from Fred Meyer, this high-visibility property is situated in a vibrant, high-demand corridor of Northeast Portland, offering excellent foot traffic and surrounding amenities.
The ground floor features production kitchen spaces leased to established businesses on market-rate, three-year NNN leases delivering immediate, reliable, and long-term cash flow. Catscratch Vegan Bakery occupies 1,200 square feet of ground-level space, while Capriotti’s occupies the other 970 square feet of first-floor space. Covered parking and loading, plus a small outdoor area, are other amenities of the lower spaces. Above, a leased two-bedroom, one-bathroom residential apartment adds income stability and balance, making this property attractive to both commercial and residential investors.
Suite 2186 features an 8-foot by 6-foot walk-in cooler, an 8-foot exhaust hood, two convection ovens, and additional dry storage space. Suite 2818 features a walk-in cooler, deep fryer, and two Atosa freezer units. Additionally, the property includes ADA-compliant restrooms, covered parking, and a spacious private backyard.
The building is strategically located just blocks away from NE Broadway and 33rd Avenue. It is also 0.5 miles from Interstate 84 and 2 miles from Highway 205. Ideally located in the sought-after Northeast Broadway Irvington neighborhood, just steps from Fred Meyer, this high-visibility property is situated in a vibrant, high-demand corridor of Northeast Portland, offering excellent foot traffic and surrounding amenities.
MATTERPORT 3D TOURS
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOURS
PHOTOS
STREET VIEW
STREET
MAP
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,020 SF
Building Class
C
Year Built/Renovated
1956/2014
Price
$1,240,000
Price Per SF
$410.60
Cap Rate
7%
NOI
$86,800
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.58
Lot Size
0.12 AC
Zoning
CM2d(MU-U) - Commercial mixed-use, intended for sites in a variety of centers, along corridors, and in other mixed use areas that are well served by transit.
Parking
2 Spaces (0.66 Spaces per 1,000 SF Leased)
Frontage
50’ on Halsey St
AMENITIES
- 24 Hour Access
- Corner Lot
- Fenced Lot
- Restaurant
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (94)
ABOUT LLOYD DISTRICT
The Lloyd District sits just east of the Willamette River in Portland and serves as one of the city’s most prominent commercial destinations. Bounded by major transportation corridors—including I‑5, I‑84, and the MAX Light Rail lines—the district offers exceptional regional accessibility and visibility. Its central location provides seamless connectivity to Downtown Portland, the Central Eastside, and surrounding residential neighborhoods such as Irvington, Laurelhurst, and Sullivan’s Gulch.
Historically anchored by retail, entertainment, and office uses, the Lloyd District remains a key shopping and services hub for both residents and commuters. The area has long been defined by large-format retail, mixed-use properties, and landmark destinations such as the Lloyd Center. Retailers benefit from steady foot traffic throughout the day, driven by nearby employment centers, multifamily housing, and the district’s strong transit network. The continued presence of hotels, fitness centers, and entertainment venues adds to the submarket’s broad consumer draw.
Infrastructure and accessibility are major strengths of the Lloyd District. The MAX Red, Blue, and Green lines run directly through the neighborhood, providing convenient access across the metro. Pedestrian-friendly streets, dedicated bike lanes, and proximity to key civic institutions help support a vibrant commercial environment. Retail corridors throughout the district are supported by a stable daytime population and consistent visitor activity.
With its strategic location, multimodal connectivity, and enduring retail presence, the Lloyd District offers an attractive opportunity for investors seeking a centrally positioned asset in one of Portland’s most established commercial neighborhoods.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
29,400
247,925
438,406
671,704
2029 Population
28,910
244,524
431,435
663,288
2024-2029 Projected Population Growth
-1.7%
-1.4%
-1.6%
-1.3%
Median Age
40.6
39.1
39.6
40.1
College Degree + Higher
66%
57%
53%
31%
Daytime Employees
29,089
245,869
455,077
573,898
Total Businesses
4,646
30,865
47,203
62,900
Average Household Income
$121,540
$109,418
$110,302
$106,961
Median Household Income
$86,233
$82,712
$83,963
$81,561
Total Consumer Spending
$503.1M
$4B
$6.7B
$9.7B
2024 Households
14,268
122,072
201,399
291,753
Average Home Value
$767,303
$672,891
$632,481
$593,248
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Cha Cha Cha Taqueria | - | $ | 4 min walk |
| Starbucks | Cafe | $ | 6 min walk |
| Kinn Kao Table & Bar | Thai | $$$ | 5 min walk |
| Sweet Basil Thai Cuisine | - | $$ | 5 min walk |
| Nicholas Restaurant | Middle Eastern | $$ | 6 min walk |
| Wares | Asian | $$ | 8 min walk |
| Tight Tacos | Vegan | $ | 8 min walk |
| Katie O'brien's | American | $ | 7 min walk |
| Sari | Japanese | - | 8 min walk |
| Costellos Travel Caffe | American | $ | 8 min walk |
RETAIL |
||
|---|---|---|
| Victra | Wireless Communications | 4 min walk |
| Verizon | Wireless Communications | 4 min walk |
| Batteries Plus Bulbs | Consumer Electronics | 4 min walk |
| State Farm | Insurance | 5 min walk |
| Perfect Look Hair Salon | Salon/Barber/Spa | 6 min walk |
| Fred Meyer | Supermarket | 6 min walk |
| New Seasons Market | Supermarket | 7 min walk |
| Club Pilates | Fitness | 7 min walk |
| At&T Wireless | Wireless Communications | 7 min walk |
| Chase Bank | Bank | 8 min walk |
HOTELS |
|
|---|---|
| OYO |
50 rooms
3 min drive
|
| Courtyard |
202 rooms
5 min drive
|
| DoubleTree by Hilton |
477 rooms
5 min drive
|
| Quality Inn |
80 rooms
6 min drive
|
| BW Premier Collection |
168 rooms
6 min drive
|
| Hyatt Regency |
600 rooms
6 min drive
|
| Crowne Plaza |
241 rooms
6 min drive
|
| Motel 6 |
36 rooms
6 min drive
|
| Marriott |
258 rooms
8 min drive
|
| Kimpton |
117 rooms
8 min drive
|
PROPERTY TAXES
| Parcel Number | R313810 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $223,720 |
PROPERTY TAXES
Parcel Number
R313810
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$223,720
SALE ADVISORS
SALE ADVISORS
Matthew Schweitzer, President
Matt graduated from Portland’s Lewis & Clark College in 1992 and soon began his real estate career as a Property Manager at Bluestone & Hockley Realty. He later joined Norris & Stevens Realtors, continuing in the same role and gaining valuable experience across a wide range of property types, including single-family homes, multi-family complexes, retail centers, office buildings, industrial properties, and mixed-use developments.
In 1995, Matt teamed up with Jeffrey Weitz, founder of North Rim, taking on responsibilities in property management, leasing, and sales. Since then, he has played a key role in the company's growth and success, and today, he leads North Rim as its President.
In 1995, Matt teamed up with Jeffrey Weitz, founder of North Rim, taking on responsibilities in property management, leasing, and sales. Since then, he has played a key role in the company's growth and success, and today, he leads North Rim as its President.
Jeffrey Weitz, Chief Executive Officer
Jeffrey’s earned his BS Degree in Industrial Technology from Humboldt State University with an emphasis in construction and architectural design in 1984. He also has 25 years experience as a journeyman carpenter and a General contractor specializing in commercial construction. He has a broad skill base with specialty training in architecture, space planning, interior design, engineering and construction project management. He has completed development projects in single family, multi-family, retail centers, office buildings and mixed use projects.
A licensed general contractor since 1984 he spent the first 7 years building, remodeling and developing single family and multi-family properties in Southern California before moving to Portland, OR with his family in 1991.
In 1992 Jeffrey founded North Rim Development, Inc. in Portland, OR establishing it as a commercial construction and development company that specializes in office and retail remodeling and renovations as well as ground up developments of neighborhood office & retail properties. With a passion for sustainability and green building applications North Rim has been implementing conservation and environmental efficiencies in their projects with Jeffrey’s guidance since 1995.
In 1995 Mr. Weitz established North Rim Commercial Realty, Inc. to provide commercial brokerage services in the Portland Metro to his valued clients. The brokerage group affiliated with the Windermere Commercial franchise in 1997 and opened offices in Portland, OR., Vancouver, Wa. And Boise, Id. Jeffrey served as principal broker for the Group licensed in the 3 states for 10 years.
The company expanded its services further in 1997 and established North Rim Properties, LLC a professional commercial property management firm. In 2005, North Rim Development Group , LLC and North Rim Partners were established to spearhead the current Development focus of Neighborhood Commercial retail and Office developments.
Community Involvement and Hobbies:
Jeffrey has always been very involved in community and volunteer work since moving to Oregon in 1991 with his wife and 2 children and has diligently served in the following capacities:
Founding Member of the West Linn Arts Commission and served as President for 3 years from 1992 -1995
Vice president on the board of directors Congregation Neveh Shalom from 1996 - 2007
Board Member of the Portland Jewish Academy from 1997-Present
Council of Trustees for the Portland Waldorf School 1994-1997
Member of the Facilities Committee for Reach Community Development 2001- 2003
Director of building and grounds for Congregation Neveh shalom 1993 to present
Facilities Director for the Middleman Jewish Community Center and the Portland Jewish Academy 1995-present
Board of Directors of the Middlemen Jewish Community Center 2007-2009
Board of Directors for the Oregon Community Warehouse 2006-2009
In addition he has been an active member of the Mt Hood Ski Patrol since 1995. He is registered as the Senior Ski and Toboggan Advisor for the Mt Hood region as well as a Instructor Trainer for the National Ski patrol. In 2000 He earned his title as Mount Hood Ski Patrol Hill Captain. He also served on the MHSP council as Treasurer from 2002-2004. he is currently the acting Training Director on the patrol.
When he is not serving his community his passions are traveling with his family, coaching Youth Sports, Alpine Skiing, Hiking, Camping, Mountain Biking and fly fishing.
A licensed general contractor since 1984 he spent the first 7 years building, remodeling and developing single family and multi-family properties in Southern California before moving to Portland, OR with his family in 1991.
In 1992 Jeffrey founded North Rim Development, Inc. in Portland, OR establishing it as a commercial construction and development company that specializes in office and retail remodeling and renovations as well as ground up developments of neighborhood office & retail properties. With a passion for sustainability and green building applications North Rim has been implementing conservation and environmental efficiencies in their projects with Jeffrey’s guidance since 1995.
In 1995 Mr. Weitz established North Rim Commercial Realty, Inc. to provide commercial brokerage services in the Portland Metro to his valued clients. The brokerage group affiliated with the Windermere Commercial franchise in 1997 and opened offices in Portland, OR., Vancouver, Wa. And Boise, Id. Jeffrey served as principal broker for the Group licensed in the 3 states for 10 years.
The company expanded its services further in 1997 and established North Rim Properties, LLC a professional commercial property management firm. In 2005, North Rim Development Group , LLC and North Rim Partners were established to spearhead the current Development focus of Neighborhood Commercial retail and Office developments.
Community Involvement and Hobbies:
Jeffrey has always been very involved in community and volunteer work since moving to Oregon in 1991 with his wife and 2 children and has diligently served in the following capacities:
Founding Member of the West Linn Arts Commission and served as President for 3 years from 1992 -1995
Vice president on the board of directors Congregation Neveh Shalom from 1996 - 2007
Board Member of the Portland Jewish Academy from 1997-Present
Council of Trustees for the Portland Waldorf School 1994-1997
Member of the Facilities Committee for Reach Community Development 2001- 2003
Director of building and grounds for Congregation Neveh shalom 1993 to present
Facilities Director for the Middleman Jewish Community Center and the Portland Jewish Academy 1995-present
Board of Directors of the Middlemen Jewish Community Center 2007-2009
Board of Directors for the Oregon Community Warehouse 2006-2009
In addition he has been an active member of the Mt Hood Ski Patrol since 1995. He is registered as the Senior Ski and Toboggan Advisor for the Mt Hood region as well as a Instructor Trainer for the National Ski patrol. In 2000 He earned his title as Mount Hood Ski Patrol Hill Captain. He also served on the MHSP council as Treasurer from 2002-2004. he is currently the acting Training Director on the patrol.
When he is not serving his community his passions are traveling with his family, coaching Youth Sports, Alpine Skiing, Hiking, Camping, Mountain Biking and fly fishing.
1 of 29
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOURS
PHOTOS
STREET VIEW
STREET
MAP
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2816 NE Halsey St
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