Building Details

Building Size 6,798 SF

Year Built 1960

Listed By: Daniel Helm, SIOR Show Phone

Source: Capacitycommercial

Added: Mar 31 Changed: Oct 13 Last Checked: Oct 20 at 5:42PM

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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 Daniel Helm, SIOR

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This industrial contractor site offers a functional layout designed for equipment storage, fleet parking, and material staging. The property is fully secured with a fenced perimeter and includes a paved yard area, along with exterior lighting to support operations after hours.

The asset is listed as available in Rivergate and is offered for sale. Based on the information provided, it supports outside operations through the yard and staging configuration.

The improvements and site features emphasize practical industrial use, including exterior storage and vehicle parking within a controlled, fenced setting.

Key Highlights

• Industrial contractor site available in Rivergate with 6,798 SF and 0.63 AC
• Fully secured and fenced perimeter for added site security
• Paved yard area for equipment storage, fleet parking, and material staging

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$69,038

Cap Rate

6.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,380,760 $1.4M

Cap Rate 7%

$986,257 $986.3K

Cap Rate 9%

$767,089 $767.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,798 SF

Gross rent

$114.2K $16.80/SF

− Vacancy

−$8.0K −$1.18/SF

EGI

$106.2K $15.62/SF

− OpEx

−$37.2K −$5.47/SF

NOI

$69.0K $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 Rate 5%

$1,380,760

Cap Rate 7%

$986,257

Cap Rate 9%

$767,089

Alternative Uses

Best Use

Flex RnD

$986.3K

$863.0K – $1.15M (±1% cap)

NOI $69,038 @ 7.0% cap · market cap 6.00%

Second Best

Industrial

$609.5K

$533.4K – $711.1K (±1% cap)

NOI $42,668 @ 7.0% cap · market cap 3.71%

Theoretical Best

Office A

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,633 @ 7.0% cap · market cap 11.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Northwest Pipe Company Industrial Manufacturer

Suggested Use

Top Pick Restaurant Spa & Massage Center Building Supply Electrical Service Cafe & Coffee Shop (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

125

Businesses Nearby

Well-served

Demand for This Use

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 Industrial in Portland, OR

3.4% 2019

4.1% 2020

2.5% 2021

2.1% 2022

4.2% 2023

5.5% 2024

6.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Contractor-ready industrial site with a secured, fenced perimeter and paved yard for equipment storage and staging.

Where is this flex space located?

The property is located at 12005 N Lombard St Portland, OR.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: Industrial contractor site available in Rivergate with 6,798 SF and 0.63 AC; Fully secured and fenced perimeter for added site security; Paved yard area for equipment storage, fleet parking, and material staging