Freestanding Portland Flex/Industrial
For Sale
Contact for pricing
1015 NW 17th Ave, Portland, OR
10,000 SF flex/industrial building with secure parking.
Property Size10,000 SF
Lot Size0.32 Acres
Price / SF$220
Days on Market961
Property Features for 1015 NW 17th Ave
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.32 Acres
Property subtype
FLEX_R_AND_D
Listing Agency:
Capacity Commercial Group
(503) 326-9000
Listed By:
Gary Randles
Source:
Moodyscre
Added: Jan 6, 2024
Changed: Jul 6
Last Checked: Aug 23 at 11:56AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This freestanding building offers approximately 10,000 square feet of flex/industrial space. It is zoned M2 by the City of Portland. The building features full HVAC, floor drains, 12 to 14-foot clearance, and grade-level access. It is equipped with 3-phase power (220/440V). On-site parking is fenced and secured. The property is located on the Lovejoy streetcar line.
Key Highlights
- ± 10,000 sf freestanding building
- M2 Zoning (City of Portland)
- Fenced and secured on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,556
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,031,120
$2.0M
Cap Rate 7%
$1,450,800
$1.5M
Cap Rate 9%
$1,128,400
$1.1M
Market Conditions
NOI Build-Up for 10,000 SF
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.
Gross rent
$168.0K $16.80/SF
− Vacancy
−$11.8K −$1.18/SF
EGI
$156.2K $15.62/SF
− OpEx
−$54.7K −$5.47/SF
NOI
$101.6K $10.16/SF
Area
Portland, OR
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,031,120
Cap Rate 7%
$1,450,800
Cap Rate 9%
$1,128,400
Alternative Uses
Best Use
Flex RnD
$1.45M
$1.27M – $1.69M
NOI $101,556 @ 7.0% cap · market cap 4.62%
Second Best
Industrial
$896.6K
$784.6K – $1.05M
NOI $62,765 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,577 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,984
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Gourmet Coffee Brew Master, Inc. — 1214 SE 7th Ave, Portland, OR 97214
- Trailhead Coffee Roasters — 350 SE Mill St, Portland, OR 97214
Frequently Asked Questions
What type of property is this?
Flex space - 10,000 SF flex/industrial building with secure parking.
Where is this flex space located?
The property is located at 1015 NW 17th Ave Portland, OR.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: ± 10,000 sf freestanding building; M2 Zoning (City of Portland); Fenced and secured on‑site parking
