Subway — Lease in Portland, OR

  • Price: $773K
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Portland, OR 97213

Description

NNN LEASE; BELOW MARKET RENT; CORNER LOCATION WITH DRIVE THROUGH IN AN OPPORTUNITY ZONE CBRE, Inc. is pleased to present the exclusive offering of Subway-82nd Avenue, a single-tenant restaurant strategically situated at the high-profile intersection of 82nd Avenue and Siskyou Street in Portland, Oregon. This exceptional opportunity, located within an Opportunity Zone, benefits from a drive-thru, outstanding visibility, and a daily traffic count of approximately 26,000 vehicles. Positioned directly across from the vibrant 15 acrea recreational hub known as Glenhaven Park and a quarter-mile from McDaniel High School with a student body of 1,650 students, the property is ideally located for success. The offering features a franchised Subway operating under a NNN lease with 1.5 years remaining, offering a 5-year renewal option at market rates and 3% annual rent increases, the next effective in February 2026. Subway-82nd Avenue represents a compelling investment, offering the recognition of a national brand, a prime corner lot location in a densely populated area exceeding 150,000 residents within a three-mile radius and the potential for future upside through amendment of lease terms and rent.

Market Context

This retail in Portland, OR is listed for lease at $773,300. It has been on the market for 195 days. Compare it against other retail listings for lease in Portland, OR — view the full market.

As of Q1 2026, the Portland retail market showed a 10.0% vacancy rate, average asking rents near $45.00/SF/yr, rents up 16.0% year over year, and cap rates around 6.4%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Retail market FAQ

What is the typical cap rate for retail in Portland?
About 6.4% as of Q1 2026, per multiple brokerage reports.
Is the Portland retail market tightening or softening?
Vacancy is around 10.0%, with asking rents rising year over year (Q1 2026).

Estimated Market Rate

$5.36/SF/mo – $7.25/SF/mo

Mid: $6.30/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

Based on comparable properties in similar markets rather than local sales.

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