Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1218-1224 SW Morrison St Portland, OR 97204

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $21 SF/Yr ($989 /Mo)

    Office space available for lease in Portland, Oregon.

    Property size:
    552 SF
    Lot size:
    0.92 Acres

    Property Features for 1218-1224 SW Morrison St

    General Information

    Size
    552 SF
    Lot size
    0.92 Acres

    We can help!

    Listing Contact
    Apm Leasing Dept
    Source: Moodyscre

    Listing Agent: Apm Leasing Dept

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Office Space in Portland, Oregon

    This office space, located in Portland, Oregon, offers 552 square feet of area. The property is available for rent at a rate of $21.5 per square foot.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Law Firm Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6848343
    Latitude
    45.5203595

    Nearby Similar for Lease

    • Contact for pricing

      Move-in Ready Medical Office Space

      Spacious medical office with modern finishes and ample parking.
      10202 East Burnside St, Portland, OR 97216
      View Details
    • $17 SF/Yr
      9,668 SF

      Prime Retail Space Downtown Portland

      Rare retail opportunity near hotels and upcoming public market.
      800 SW Washington St, Portland, OR 97205
      View Details
    • $24 SF/Yr
      5,000 SF

      Prime Retail Opportunity on Hawthorne

      Two retail suites available in a vibrant Portland location.
      3321 SE Hawthorne Blvd, Portland, OR 97214
      View Details
    • $30 SF/Yr
      7,748 SF

      Class A Office Space Available

      Premier office space in mixed-use building, central business district.
      710-760 SW 9Th Ave, Portland, OR 97205
      View Details
    • Contact for pricing

      Central Eastside Industrial Warehouse Space

      Warehouse/manufacturing space in Portland's Central Eastside Industrial District.
      1701 SE Water Ave, Portland, OR 97214
      View Details
    • Contact for pricing

      Portland Creative Space with Flex

      Modern creative space with flex area in vibrant Portland neighborhood.
      541 NE 20Th Ave, Portland, OR 97232
      View Details
    • Contact for pricing

      Pearl District Class A Office

      High-end creative office space in Portland's premier Pearl District.
      1022 NW Marshall St, Portland, OR 97209
      View Details
    • Contact for pricing

      Versatile Industrial & Office Space

      Full city block warehouse with renovated office space in Portland.
      Portland, OR 97214
      View Details
    • Contact for pricing

      Modern Office Space in Sellwood

      Move-in ready office space with secure courtyard and parking.
      Portland, OR 97202
      View Details
    • $810 /Mo
      15,000 SF

      Renovated Creative Office Space Available

      Creative office space for lease in a diverse business district.
      222 SE Alder St, Portland, OR 97214
      View Details
    • $25 SF/Yr
      2,637 SF

      Renovated Office/Retail Space Available

      Recently renovated office/retail space near SE Division Street amenities.
      2415-2419 SE 11Th Ave, Portland, OR 97212
      View Details
    • Contact for pricing
      86,200 SF

      Divisible Warehouse Space Near Airport

      Warehouse space available for sublease near PDX Airport.
      5349 Northeast 152Nd Pl, Portland, OR 97230
      View Details

    FAQs

    What type of property is this?
    Office space - Office space available for lease in Portland, Oregon.
    Where is this office space located?
    The property is located at 1218-1224 SW Morrison St Portland, OR.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - Office space available for lease; - Located in Portland, Oregon
    (503) 281-7779
    Request Owner's contact information
    1218-1224 SW Morrison St Portland, OR 97204
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1218-1224 SW Morrison St
    Portland, OR 97204
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1218-1224 SW Morrison St Portland, OR 97204
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Apm Leasing Dept
    (503) 281-7779
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.