Listing Agency: CBRE - Portland

Listed By: Eleanor Aschoff · License #971000188 Show Phone

Source: Cbre

Added: Mar 25 Changed: Oct 24 Last Checked: Oct 24 at 3:16PM

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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 / Yr

$40,622

Cap Rate

3.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$812,440 $812.4K

Cap Rate 7%

$580,314 $580.3K

Cap Rate 9%

$451,356 $451.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

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 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 (±1% cap)

NOI $40,622 @ 7.0% cap · market cap 3.82%

Second Best

Industrial

$358.7K

$313.8K – $418.4K (±1% cap)

NOI $25,106 @ 7.0% cap · market cap 2.36%

Theoretical Best

Office A

$1.12M

$982.9K – $1.31M (±1% cap)

NOI $78,631 @ 7.0% cap · market cap 7.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Hammer & Hand Construction Company

Suggested Use

Top Pick Nursing Home (Bike/Boat/Book/etc) Store Pet Grooming Service Florist Mobile Phone Store Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

3.4% 2019

4.1% 2020

2.5% 2021

2.1% 2022

4.2% 2023

5.5% 2024

6.6% 2025

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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