Office Building with Excess
For Sale
$1,390,000
13225 N Columbia Blvd, Portland, OR 97203
Office building with excess land near I-5 and Portland Airport.
Property Size3,300 SF
Price / SF$421.21
Days on Market268
Property Features for 13225 N Columbia Blvd
General Information
Standard status
Active
Size
3,300 SF
Class
B
Property subtype
Office
Building Details
Building Size
3,300 SF
Year Built
1988
Listing Agency:
(541) 517-9985
Listed By:
Brody Cohen, SIOR
(541) 517-9985
Source:
Corfac
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:24PM
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 Brody Cohen, SIOR
Investment Insights
Based on property information with market context.
This property features an office building with approximately 3,300 square feet situated on 1.76 acres. The property includes excess unimproved land, offering potential for future development or use as a yard area. A large fenced and secured parking area is present. The location provides close proximity to I-5 via North Columbia Boulevard and is near the Port of Portland terminals. It is located approximately 11 miles from Portland International Airport. The property provides multiple access points to the central business district. The office space is move-in ready and features high-end finishes.
Key Highlights
- Excess land (1.76 acres) offers future development or yard area potential.
- Plug‑and‑play office/HQ opportunity with high‑end finishes.
- Large fenced/secured parking area.
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
$42,718
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
3.07%
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%
$854,360
$854.4K
Cap Rate 7%
$610,257
$610.3K
Cap Rate 9%
$474,644
$474.6K
Market Conditions
NOI Build-Up for 3,300 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
$75.2K $22.80/SF
− Vacancy
−$18.3K −$5.54/SF
EGI
$57.0K $17.26/SF
− OpEx
−$14.2K −$4.31/SF
NOI
$42.7K $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 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%
$854,360
Cap Rate 7%
$610,257
Cap Rate 9%
$474,644
Alternative Uses
Best Use
Office B
$610.3K
$534.0K – $712.0K
NOI $42,718 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$926.7K
$810.9K – $1.08M
NOI $64,871 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with excess land near I-5 and Portland Airport.
Where is this office building located?
The property is located at 13225 N Columbia Blvd Portland, OR.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Excess land (1.76 acres) offers future development or yard area potential.; Plug‑and‑play office/HQ opportunity with high‑end finishes.; Large fenced/secured parking area.
