Upgraded Office Building For
For Sale
Contact for pricing
1625-1645 NW Hoyt St, Portland, OR
Completely upgraded office building in desirable NW Portland location.
Property Size7,500 SF
Lot Size0.30 Acres
Price / SF$280
Days on Market910
Property Features for 1625-1645 NW Hoyt St
General Information
Standard status
Active
Size
7,500 SF
Lot size
0.30 Acres
Property subtype
OFFICE
Listing Agency:
Macadam Forbes
(503) 227-2500
Listed By:
Rhys Konrad · License ##201205396
(503) 972-7293
Source:
Moodyscre
Added: Mar 22, 2024
Changed: Sep 3
Last Checked: Sep 16 at 8:55PM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
This upgraded office building is available for sale in a desirable Northwest Portland location, offering close proximity to Slabtown and the Pearl District. The property provides an open and flexible working condition, with dedicated conference and break area spaces. The building has been completely upgraded, including seismic improvements. The property includes 6 dedicated and fenced off-street parking spaces. The building has a property size of 7500 square feet.
Key Highlights
- Completely upgraded building, including seismic reinforcement
- Desirable NW Portland location near Slabtown and the Pearl District
- Six dedicated and fenced off‑street parking spaces
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
$97,085
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%
$1,941,700
$1.9M
Cap Rate 7%
$1,386,929
$1.4M
Cap Rate 9%
$1,078,722
$1.1M
Market Conditions
NOI Build-Up for 7,500 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
$171.0K $22.80/SF
− Vacancy
−$41.6K −$5.54/SF
EGI
$129.4K $17.26/SF
− OpEx
−$32.4K −$4.31/SF
NOI
$97.1K $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%
$1,941,700
Cap Rate 7%
$1,386,929
Cap Rate 9%
$1,078,722
Alternative Uses
Best Use
Office B
$1.39M
$1.21M – $1.62M
NOI $97,085 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,433 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
11,027
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Market
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Office building - Completely upgraded office building in desirable NW Portland location.
Where is this office building located?
The property is located at 1625-1645 NW Hoyt St Portland, OR.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Completely upgraded building, including seismic reinforcement; Desirable NW Portland location near Slabtown and the Pearl District; Six dedicated and fenced off‑street parking spaces
