North Park Retail/Office
For Sale
Contact for pricing
725 NW Flanders St, Portland, OR
Retail or office space in North Park with mezzanine.
Property Size1,634 SF
Lot Size0.23 Acres
Price / SF$364.14
Days on Market1209
Property Features for 725 NW Flanders St
General Information
Standard status
Active
Size
1,634 SF
Lot size
0.23 Acres
Property subtype
RETAIL
Site & Location
Neighborhood
Pearl District
Listing Agency:
Apex Real Estate Partners
(503) 595-2840
Listed By:
Tom Shimota
(503) 709-3689
Source:
Moodyscre
Added: Jul 12, 2023
Changed: Jul 6
Last Checked: Nov 1 at 5:41AM
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 Apex Real Estate Partners
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features an open floor plan with two breakout rooms, a kitchenette, and a restroom, making it suitable for a gallery, retail space, or office. A mezzanine provides additional storage space. The property benefits from good window lines and natural light. It is located in North Park, near bars, restaurants, and shopping options. TriMet transportation is easily accessible. Ample parking options are available. The property provides convenient access to I-405, northwest neighborhoods, and the central business district. The property size is 1634 square feet.
Key Highlights
- Excellent open floor plan suitable for gallery, retail, or office use.
- Incredible north park location near bars, restaurants, and shopping.
- Great window lines and amazing natural light.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,152
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,040
$423.0K
Cap Rate 7%
$302,171
$302.2K
Cap Rate 9%
$235,022
$235.0K
Market Conditions
NOI Build-Up for 1,634 SF
Gross rent
$37.3K $22.80/SF
− Vacancy
−$9.1K −$5.54/SF
EGI
$28.2K $17.26/SF
− OpEx
−$7.1K −$4.31/SF
NOI
$21.2K $12.94/SF
Area
Portland, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,040
Cap Rate 7%
$302,171
Cap Rate 9%
$235,022
Alternative Uses
Best Use
Office B
$302.2K
$264.4K – $352.5K
NOI $21,152 @ 7.0% cap · market cap 3.55%
Second Best
Retail
$272.1K
$238.1K – $317.4K
NOI $19,044 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$458.9K
$401.5K – $535.4K
NOI $32,121 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12,146
Businesses Nearby
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Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Retail space - Retail or office space in North Park with mezzanine.
Where is this retail space located?
The property is located at 725 NW Flanders St Portland, OR.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Excellent open floor plan suitable for gallery, retail, or office use.; Incredible north park location near bars, restaurants, and shopping.; Great window lines and amazing natural light.
