Versatile Flex Space with Dual
For Sale
$349,000
5215 SE FLAVEL, Portland, OR 97206
Well-maintained flex space with dual occupancy potential in Portland, OR.
Property Size1,455 SF
Price / SF$239.86
Days on Market513
Property Features for 5215 SE FLAVEL
General Information
Standard status
Active
Size
1,455 SF
Taxes and HOA fees
Annual Taxes
$1,889
Building Details
Year Built
1926
Listing Agency:
OREGON DIGS REAL ESTATE
Listed By:
RICHARD CANIFAX · License #200407293
(503) 239-7400
Source:
Corcoran
Added: May 20, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 OREGON DIGS REAL ESTATE
Investment Insights
Based on property information with market context.
This 1455 square-foot property offers versatile layout options and is currently configured for single-tenant use. The space includes two private offices, a spacious reception area, and a warehouse area. The property features two separate front entrances and a dividing wall, making it suitable for dual occupancy, where an owner-user could occupy one side and lease the other. The property has been updated and well-maintained, featuring HVAC, fresh flooring, and paint. There are five striped parking spaces available. The property is located in Portland, OR.
Key Highlights
- Dual Occupancy Potential: Easily divisible with two separate entrances and a dividing wall, ideal for owner‑user to lease out one side.
- Versatile Layout: Adaptable space suitable for various uses, currently configured with offices, reception, and warehouse.
- Updated Condition: Well‑maintained with fresh flooring and paint.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,835
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,700
$376.7K
Cap Rate 7%
$269,071
$269.1K
Cap Rate 9%
$209,278
$209.3K
Market Conditions
NOI Build-Up for 1,455 SF
Gross rent
$33.2K $22.80/SF
− Vacancy
−$8.1K −$5.54/SF
EGI
$25.1K $17.26/SF
− OpEx
−$6.3K −$4.31/SF
NOI
$18.8K $12.94/SF
Area
ZIP 97206
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 Rate 5%
$376,700
Cap Rate 7%
$269,071
Cap Rate 9%
$209,278
Alternative Uses
Best Use
Office B
$269.1K
$235.4K – $313.9K
NOI $18,835 @ 7.0% cap · market cap 5.40%
Second Best
Warehouse
$168.3K
$147.3K – $196.4K
NOI $11,782 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$408.6K
$357.5K – $476.7K
NOI $28,602 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained flex space with dual occupancy potential in Portland, OR.
Where is this flex space located?
The property is located at 5215 SE FLAVEL Portland, OR.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Dual Occupancy Potential: Easily divisible with two separate entrances and a dividing wall, ideal for owner‑user to lease out one side.; Versatile Layout: Adaptable space suitable for various uses, currently configured with offices, reception, and warehouse.; Updated Condition: Well‑maintained with fresh flooring and paint.
