Corner Fitness Center
For Sale
$1,100,000
11702 NE HALSEY St, Portland, OR 97220
CommercialSale, Portland, OR
Property Size4,766 SF
Lot Size0.59 Acres
Price / SF$230.80
Days on Market1016
Property Features for 11702 NE HALSEY St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM1
Directions
117th & Halsey
Subdivision
_142
Standard status
Active
APN
R154518
Size
4,766 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Description
EDISON, LOT 11 EXC S 76'- EXC PT IN STS
Tax Annual Amount
17327
Legal Description
EDISON, LOT 11 EXC S 76'- EXC PT IN STS
Utilities
Heating system
Forced Air
Amenities
storage space
showers
lockers
Building Details
Year built
1970
Floors in Building
1
Roof type
Tile
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Heather Miller
(503) 310-1935
Added: Jan 4, 2024
Changed: Oct 10
Last Checked: Oct 16 at 10:06PM
MLS# 24465137
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.
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Investment Insights
Based on property information with market context.
This 4,766-square-foot fitness center building sits on a 0.59-acre corner lot and was built in 1970. The interior includes two expansive open areas configured as showroom spaces, four restrooms, two ADA-compliant restrooms with showers and lockers, one private office, and substantial storage. A front entrance and side entrance serve the retail and showroom areas, while a rear delivery door connects with the storage room. The property also includes a tile roof and forced-air heating.
On-site parking totals 23 spaces, with additional off-site parking on 117th Avenue. The building has street frontage, signage, two access points, and access from NE Halsey Street and NE 117th Avenue. It is near I-205, the Gateway District, the 122nd MAX Hub, Portland Airport, parks, shopping, and restaurants, with Downtown Portland approximately 15 minutes away. CM1 zoning allows a variety of commercial mixed-use applications.
On-site parking totals 23 spaces, with additional off-site parking on 117th Avenue. The building has street frontage, signage, two access points, and access from NE Halsey Street and NE 117th Avenue. It is near I-205, the Gateway District, the 122nd MAX Hub, Portland Airport, parks, shopping, and restaurants, with Downtown Portland approximately 15 minutes away. CM1 zoning allows a variety of commercial mixed-use applications.
Key Highlights
- 4,766 SF building on a 0.59‑acre corner lot
- Two large open showroom areas with four restrooms
- Two ADA‑compliant restrooms include showers and lockers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,548
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,110,960
$1.1M
Cap Rate 7%
$793,543
$793.5K
Cap Rate 9%
$617,200
$617.2K
Market Conditions
NOI Build-Up for 4,766 SF
Gross rent
$85.8K $18.00/SF
− Vacancy
−$6.4K −$1.35/SF
EGI
$79.4K $16.65/SF
− OpEx
−$23.8K −$5.00/SF
NOI
$55.5K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,110,960
Cap Rate 7%
$793,543
Cap Rate 9%
$617,200
Alternative Uses
Best Use
Retail
$793.5K
$694.4K – $925.8K
NOI $55,548 @ 7.0% cap · market cap 5.05%
Second Best
Flex RnD
$691.5K
$605.0K – $806.7K
NOI $48,402 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,689 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
901
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Portland, OR
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Frequently Asked Questions
What type of property is this?
Fitness center & gym - CM1-zoned facility with open areas, showers, lockers, storage, and multiple access points.
Where is this fitness center & gym located?
The property is located at 11702 NE HALSEY St Portland, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,766 SF building on a 0.59‑acre corner lot; Two large open showroom areas with four restrooms; Two ADA‑compliant restrooms include showers and lockers
