Mixed-Use Office and
For Sale
$6,750,000
1225 NW MURRAY Rd, Portland, OR 97229
CommercialSale, Portland, OR
Property Size22,806 SF
Lot Size1.82 Acres
Price / SF$295.97
Days on Market153
Property Features for 1225 NW MURRAY Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TO: BUS
Directions
Entrance to Office: NW Cornell Blvd to North on NW Murray Rd
Subdivision
_149
Standard status
Active
APN
R971540
Size
22,806 SF
Lot size
1.82 Acres
Taxes and HOA fees
Tax Description
ACRES 1.82
Tax Annual Amount
69257
Legal Description
ACRES 1.82
Utilities
Heating system
Forced Air, Baseboard
Cooling system
Central Air
Building Details
Year built
1980
Floors in Building
2
Building materials
CementSiding, Stucco
Roof type
Membrane, Composition, Flat
Listing Agency:
Where, Inc.
(503) 222-4373
Listed By:
Suzann Baricevic Murphy · License #860700098
(503) 789-1033
Added: May 7
Changed: Sep 28
Last Checked: Oct 6 at 6:06AM
MLS# 651604401
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial office building of 22,000SF+ with a 12-unit apartment building on 1.82 acres. The improvements date to 1980 and are constructed with cement siding and stucco. Building systems include central air conditioning, forced-air heat, and baseboard heating, with composition, membrane, and flat roof sections.
The property is located at 1225 NW Murray Rd in Portland, Oregon, within Washington County. Zoning is designated TO: BUS. The apartments are fully occupied, and the property is offered for sale subject to interior inspection.
The property is located at 1225 NW Murray Rd in Portland, Oregon, within Washington County. Zoning is designated TO: BUS. The apartments are fully occupied, and the property is offered for sale subject to interior inspection.
Key Highlights
- 22,000SF+ commercial office building
- 12‑unit apartment building with fully occupied apartments
- 1.82‑acre mixed‑use property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$341,748
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,834,960
$6.8M
Cap Rate 7%
$4,882,114
$4.9M
Cap Rate 9%
$3,797,200
$3.8M
Market Conditions
NOI Build-Up for 22,806 SF
Gross rent
$615.8K $27.00/SF
− Vacancy
−$160.1K −$7.02/SF
EGI
$455.7K $19.98/SF
− OpEx
−$113.9K −$5.00/SF
NOI
$341.7K $14.99/SF
Area
ZIP 97229
Vacancy
26.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,834,960
Cap Rate 7%
$4,882,114
Cap Rate 9%
$3,797,200
Alternative Uses
Best Use
Office B
$4.88M
$4.27M – $5.70M
NOI $341,748 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$4.41M
$3.86M – $5.14M
NOI $308,663 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$6.16M
$5.39M – $7.18M
NOI $430,913 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 97229, OR
73,602
Population
28,312
Households
2.6
Avg Household Size
38
Median Age
69%
College-Educated
98%
High-School Grad
19.7 sq mi
ZIP Area
3,736
Density / Sq Mi
$159,863
Median Household Income
$83,904
Median Earnings
$1,948
Median Rent
$728,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office space and apartments occupy a mixed-use property with central air and multiple heating systems.
Where is this mixed-use property located?
The property is located at 1225 NW MURRAY Rd Portland, OR.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 22,000SF+ commercial office building; 12‑unit apartment building with fully occupied apartments; 1.82‑acre mixed‑use property
