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Versatile Flex Space with Dual Occupancy

5215 SE FLAVEL Portland, OR 97206

5215 SE FLAVEL, Portland, OR, 97206

$349,000

For Sale

$349,000

Well-maintained flex space with dual occupancy potential in Portland, OR.

Property Size1,455 SF

Price / SF$239.86

AddedMay 20, 2025

Days on Market422

Last RefreshMar 16 at 9:09 am

Property Features for 5215 SE FLAVEL

General Information

Standard status: Active
Size: 1,455 SF

Building Details

Year Built: 1926

Listing office OREGON DIGS REAL ESTATE

Listing date May 20, 2025

Source Corcoran

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.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$33.2k	$22.80
− Vacancy	−$8.1k	−$5.54
EGI	$25.1k	$17.26
− OpEx	−$6.3k	−$4.31
NOI	$18.8k	$12.94

1,455 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%

Alternative Uses

Best Use

Office B

$269.1K

$235.4K – $313.9K (±1% cap)

NOI $18,835 @ 7.0% cap · market cap 5.40%

Second Best

Warehouse

$168.3K

$147.3K – $196.4K (±1% cap)

NOI $11,782 @ 7.0% cap · market cap 3.38%

Theoretical Best

Office A

$408.6K

$357.5K – $476.7K (±1% cap)

NOI $28,602 @ 7.0% cap · market cap 8.20%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

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For sale
Flex space
OR
Portland
97206
5215 SE FLAVEL

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.