Warehouse/Office Building with Rooftop
For Sale
$1,063,748
1020 Southeast Harrison Street, Portland, OR 97214
4,000 SF warehouse/office building with a rooftop garden.
Property Size4,000 SF
Price / SF$265.94
Days on Market165
Property Features for 1020 Southeast Harrison Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
FlexIndustrial
Listing Agency:
CBRE - Portland
Listed By:
Eleanor Aschoff · License #971000188
(503) 221-4868
Source:
Cbre
Added: Mar 25
Changed: Sep 4
Last Checked: Aug 14 at 6:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Portland
Investment Insights
Based on property information with market context.
This is a 4,000 square foot, two-story building suitable for warehouse and office use. The layout includes 2,000 square feet of office space and 2,000 square feet of warehouse space, complemented by a rooftop garden. The building features a sawtooth roof designed to maximize natural light into the second-floor office area. It is equipped with one 10x8 grade-level door for loading. The warehouse area has a clear height of 11 feet and provides 240V 3-phase power. The building was remodeled in 2016 and is located in the Southeast Close-In area. The property is zoned IG1.
Key Highlights
- 2,000 SF Office / 2,000 SF Warehouse + Rooftop Garden
- SE Close‑In location
- Sawtooth roof for maximum light into 2nd floor office
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
$40,622
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
3.82%
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%
$812,440
$812.4K
Cap Rate 7%
$580,314
$580.3K
Cap Rate 9%
$451,356
$451.4K
Market Conditions
NOI Build-Up for 4,000 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
$67.2K $16.80/SF
− Vacancy
−$4.7K −$1.18/SF
EGI
$62.5K $15.62/SF
− OpEx
−$21.9K −$5.47/SF
NOI
$40.6K $10.16/SF
Area
Portland, OR
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$812,440
Cap Rate 7%
$580,314
Cap Rate 9%
$451,356
Alternative Uses
Best Use
Flex RnD
$580.3K
$507.8K – $677.0K
NOI $40,622 @ 7.0% cap · market cap 3.82%
Second Best
Industrial
$358.7K
$313.8K – $418.4K
NOI $25,106 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$1.12M
$982.9K – $1.31M
NOI $78,631 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,594
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 4,000 SF warehouse/office building with a rooftop garden.
Where is this flex space located?
The property is located at 1020 Southeast Harrison Street Portland, OR.
What is the asking price?
The asking price for this property is $1,063,748.
What are key features of this property?
This property features: 2,000 SF Office / 2,000 SF Warehouse + Rooftop Garden; SE Close‑In location; Sawtooth roof for maximum light into 2nd floor office
