Office Building with
For Sale
$1,000,000
12290 SW MAIN St, Portland, OR 97223
CommercialSale, Portland, OR
Property Size3,000 SF
Lot Size0.03 Acres
Price / SF$333.33
Days on Market507
Property Features for 12290 SW MAIN St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MU-SBD
Directions
HWY 99, Turn on SW Main St South Side of Main St
Subdivision
_151
Standard status
Active
APN
R460673
Size
3,000 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
ACRES 0.03
Tax Annual Amount
5992
Legal Description
ACRES 0.03
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
monument and building signage
Building Details
Year built
1976
Floors in Building
2
Building materials
WoodSiding
Roof type
Flat
Listing Agency:
Liberty First Realty, LLC
(503) 278-5334
Listed By:
James White
(503) 278-5342
Added: Apr 7, 2025
Changed: Aug 25
Last Checked: Aug 26 at 5:06AM
MLS# 380270259
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 3,000-square-foot office building at 12290 SW MAIN St. provides a flexible commercial layout for office, professional service, or specialty retail use. The property includes updated interior finishes, street-facing visibility, monument signage, and building signage. Built in 1976, the structure features wood siding, a flat roof, forced-air heating, and central air conditioning.
A transferable TriMet parking lease provides up to 14 parking spaces. The property is positioned for an owner-user seeking an established business location with the ability to occupy the building and potentially lease a smaller portion for supplemental income. Zoning is MU-SBD, and permitted uses should be verified by the buyer.
A transferable TriMet parking lease provides up to 14 parking spaces. The property is positioned for an owner-user seeking an established business location with the ability to occupy the building and potentially lease a smaller portion for supplemental income. Zoning is MU-SBD, and permitted uses should be verified by the buyer.
Key Highlights
- 3,000‑square‑foot office building on 0.03 acres
- Transferable TriMet parking lease with up to 14 parking spaces
- Updated interior finishes with monument and building signage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,834
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,680
$776.7K
Cap Rate 7%
$554,771
$554.8K
Cap Rate 9%
$431,489
$431.5K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.4K $22.80/SF
− Vacancy
−$16.6K −$5.54/SF
EGI
$51.8K $17.26/SF
− OpEx
−$12.9K −$4.31/SF
NOI
$38.8K $12.94/SF
Area
ZIP 97223
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,680
Cap Rate 7%
$554,771
Cap Rate 9%
$431,489
Alternative Uses
Best Use
Office B
$554.8K
$485.4K – $647.2K
NOI $38,834 @ 7.0% cap · market cap 3.88%
Second Best
Retail
$499.5K
$437.1K – $582.8K
NOI $34,965 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$842.5K
$737.2K – $982.9K
NOI $58,973 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,476
Businesses Nearby
Explore this area
Business Placement
Demographics for 97223, OR
49,967
Population
21,428
Households
2.3
Avg Household Size
39
Median Age
50%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
4,502
Density / Sq Mi
$108,040
Median Household Income
$57,411
Median Earnings
$1,726
Median Rent
$577,600
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - MU-SBD zoning, visible signage, and transferable parking support an owner-occupied office or service business.
Where is this office building located?
The property is located at 12290 SW MAIN St Portland, OR.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,000‑square‑foot office building on 0.03 acres; Transferable TriMet parking lease with up to 14 parking spaces; Updated interior finishes with monument and building signage
