Multnomah Square 7843 SW Capitol Hwy 8,396 SF 97% Leased Retail Building Portland, OR 97219 $1,790,000 ($213.20/SF) 7% Cap Rate

Northmarq is pleased to present the opportunity to acquire a stable, well-located asset in Portland’s Multnomah Village neighborhood, an area characterized by strong demographics and limited office and retail vacancy. With an average suite size of 400 square feet, the building caters to growing demand for small-format office space, reducing exposure to large tenant improvements and leasing commission costs. The Property is currently 99% leased at the lower end of market rents, providing upside potential through lease-up of two owner-occupied suites and renewal of existing tenants at market rates. Over one third of the GLA features tenants with 10+ years of occupancy, underscoring the asset’s historical stability.
Located in the heart of Multnomah Village, this offering provides the opportunity to purchase an investment property in a submarket where assets are rarely for sale. Because of the unique supply/demand characteristics of this micro market there is scant vacancy and consequently investor demand is high with assets rarely available for sale to the open market.
Multnomah Village is just off SW Multnomah Blvd with easy access to I-5 and Hwy 99W featuring daily traffic counts exceeding 120,000 and 90,000 vehicles respectively. The surrounding area features high-density residential (over 110,000 residents within three miles), an extremely high avg. HH income of over $169,000 within 1.5 miles, and continued multifamily development, with over 1,300 new units delivered since 2022, operating at over 91% occupancy. Zoned commercial mixed-use, the Property allows for retail, office, and residential uses.