Versatile Flex Space with Dual
5215 SE FLAVEL, Portland, OR 97206
Well-maintained flex space with dual occupancy potential in Portland, OR.
Property size:
1,455 SFPrice / SF:
$239/SF- Added:
- May 20, 2025
- Days on Market:
- 377
- Last Refresh:
- Mar 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 agent RICHARD CANIFAX
Listing office OREGON DIGS REAL ESTATE (503) 239-7400
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
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.
- Includes two private offices.
- Dedicated Parking: Features five striped parking spaces.
- Equipped with HVAC system.
Overview
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.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| 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
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.609
- Latitude
- 45.4689
Nearby Similar for Sale
FAQs
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.
