Medical Office on Capitol
For Sale
$795,000
10230 SW Capitol Hwy, Portland, OR 97219
Medical office building with high visibility and convenient access.
Property Size2,453 SF
Price / SF$324.09
Days on Market206
Property Features for 10230 SW Capitol Hwy
General Information
Standard status
Active
Size
2,453 SF
Class
C
Property subtype
Office
Building Details
Building Size
2,453 SF
Year Built
1988
Listing Agency:
(503) 720-4554
Listed By:
John Kohnstamm, SIOR
(503) 720-4554
Source:
Corfac
Added: Jan 26
Changed: Aug 9
Last Checked: Aug 20 at 4:15AM
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 John Kohnstamm, SIOR
Investment Insights
Based on property information with market context.
This medical office building is positioned a short distance from an I-5 on-ramp and close to PCC and Mountain Park. The location offers convenient access and high visibility on Capitol Highway. The corner of SW Capitol Hwy & SW Alfred St sees over 18,000 vehicles per day, and there are over 125,000 on I-5. The property features unique medical office interior components, a corner location with easy access, and private parking. A monument sign is available for tenants. Situated in the heart of the city, the area offers a dynamic mix of amenities and attractions ideal for office investors. Enjoy quick access to downtown Portland, where a thriving business scene awaits, along with renowned dining establishments and cultural hotspots. Several nearby amenities include a car wash, gas station, and various restaurants. There is also a bus stop within walking distance and a park and ride only a short drive away. The property contains 2,453 square feet.
Key Highlights
- Great visibility on Capital Highway with high traffic count (18,000+ vehicles per day).
- Corner location with easy access.
- Unique medical office interior components.
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
$36,957
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
4.65%
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%
$739,140
$739.1K
Cap Rate 7%
$527,957
$528.0K
Cap Rate 9%
$410,633
$410.6K
Market Conditions
NOI Build-Up for 2,453 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
$66.2K $27.00/SF
− Vacancy
−$4.6K −$1.89/SF
EGI
$61.6K $25.11/SF
− OpEx
−$24.6K −$10.04/SF
NOI
$37.0K $15.07/SF
Area
ZIP 97219
Vacancy
7.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$739,140
Cap Rate 7%
$527,957
Cap Rate 9%
$410,633
Alternative Uses
Best Use
Healthcare Medical
$528.0K
$462.0K – $616.0K
NOI $36,957 @ 7.0% cap · market cap 4.65%
Second Best
Office B
$453.6K
$396.9K – $529.2K
NOI $31,753 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$688.9K
$602.8K – $803.7K
NOI $48,220 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97219, OR
42,474
Population
18,881
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,630
Density / Sq Mi
$115,525
Median Household Income
$59,178
Median Earnings
$1,603
Median Rent
$651,600
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?
Medical Office Space - Medical office building with high visibility and convenient access.
Where is this medical office space located?
The property is located at 10230 SW Capitol Hwy Portland, OR.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Great visibility on Capital Highway with high traffic count (18,000+ vehicles per day).; Corner location with easy access.; Unique medical office interior components.
