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    1515 SE Water Ave Portland, OR 97214

    For Sale
    Contact for pricing

    Four-story Class B office building in Portland's Eastside Submarket.

    Property size:
    99,999 SF
    Lot size:
    1.02 Acres

    Property Features for 1515 SE Water Ave

    General Information

    Size
    99,999 SF
    Lot size
    1.02 Acres

    Source: JLL | Portland Agent Buzz Ellis

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

    Overview

    LEED Gold Certified Office Building

    River East Center is a four-story, Class B office building located in Portland’s Close-In Eastside Submarket. The building, which is LEED Gold certified, offers 99,999 rentable square feet. Situated on 3.63 acres, the property was renovated in 2006 and features floor plates measuring approximately 37,000 square feet on the first and third floors. The building also includes flexible mezzanine space suitable for single or multi-tenant use, open layouts, generous window lines, abundant natural light, and river views. There are 176 parking stalls available. The property has served as the headquarters for Mackenzie Engineering since 2007. It is located near restaurants, cafes, and clubs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Viewpoint Software Company Wasabi Paddling Club Boat Club RiverEast Center Rowing Club Mackenzie Architect Coaxis Inc Software Company

    Suggested Use

    Realty agency Restaurant Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6664766
    Latitude
    45.5118933

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    FAQs

    What type of property is this?
    Office building - Four-story Class B office building in Portland's Eastside Submarket.
    Where is this office building located?
    The property is located at 1515 SE Water Ave Portland, OR.
    What are key features of this property?
    This property features: - LEED Gold certified, four-story Class B building with 99,999 rentable square feet.; - Benefit from **176 parking stalls**, a highly coveted amenity within the Urban Core.; - Located in Portland’s dynamic Close-In Eastside Submarket, near trendy restaurants, cafes, and clubs.
    (503) 972-8000
    Request Owner's contact information
    1515 SE Water Ave Portland, OR 97214
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    Portland, OR 97214
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    Realmo Value Estimation

    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.

    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.

    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
    1515 SE Water Ave Portland, OR 97214
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