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    Live-Work Office Building Title is generated by Realmo AI

    12135 Southeast Lincoln Street, Portland, OR 97216

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    Two-building setup with ADA-accessible office suites and a corner-lot bungalow suited for live-work or creative use.

    Type:Retail, Office
    Property size:
    6,659 SF
    Price / SF:
    $150/SF
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 3:29 am

    Property Features for 12135 Southeast Lincoln Street

    General Information

    Standard status
    Active
    Size
    6,659 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1977

    We can help!

    Listing Contact
    Marissa Lee
    Marissa Lee

    Listing agent Marissa Lee License #201221687

    Listing office Commercial Real Estate NW

    Listing date May 28, 2026

    Source Crexi

    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 Commercial Real Estate NW

    HighLights

    • Two‑building offering with immediate occupancy, including an ADA‑accessible office building at 12135 SE Lincoln St.
    • 12135 SE Lincoln St includes two office suites with private offices and marquee signage.
    • Remodeled lower suite at 12135 SE Lincoln St is available now for an owner‑user.
    • Second suite at 12135 SE Lincoln St has existing income with an option to re‑lease.
    • 2057 SE 122nd Ave is a corner‑lot Craftsman bungalow suited for live‑work or creative office use.
    • Both buildings emphasize visibility and signage, including marquee signage at 12135 SE Lincoln St.

    Overview

    This two-building offering is designed for flexible owner-user use with immediate occupancy. 12135 SE Lincoln St features two office suites, each with private offices, ADA accessibility, and marquee signage. The remodeled lower suite is available now for an owner-user, while the second suite provides existing income and may be re-leased.

    A separate asset at 2057 SE 122nd Ave is a corner lot Craftsman bungalow. The property is described as having strong visibility and signage, supporting live/work or creative office potential.

    For tenants and owner-users, the combination of ADA-accessible office space and a distinctive bungalow format creates options for operational flexibility, whether you need conventional office configuration or a more character-driven live-work or creative workspace. The suite-level arrangement also allows you to consider occupying the available remodeled space while evaluating the continuing tenancy strategy for the other suite.

    Local Financial Insights For Mixed Use

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $159.8k $24.00
    − Vacancy −$16.0k −$2.40
    EGI $143.8k $21.60
    − OpEx −$53.9k −$8.10
    NOI $89.9k $13.50
    6,659 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $1.28M
    $1.12M – $1.50M (±1% cap)
    NOI $89,897 @ 7.0% cap · market cap 9.00%
    Second Best
    Office B
    $1.23M
    $1.08M – $1.44M (±1% cap)
    NOI $86,199 @ 7.0% cap · market cap 8.63%
    Theoretical Best
    Office A
    $1.87M
    $1.64M – $2.18M (±1% cap)
    NOI $130,901 @ 7.0% cap · market cap 13.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Compassion Connect Charitable Organization Mountain View Counseling Marriage Or Relationship Counselor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.5383387
    Latitude
    45.5080668

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    FAQs

    What type of property is this?
    Live-work space - Two-building setup with ADA-accessible office suites and a corner-lot bungalow suited for live-work or creative use.
    Where is this live-work space located?
    The property is located at 12135 Southeast Lincoln Street Portland, OR.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: Two‑building offering with immediate occupancy, including an ADA‑accessible office building at 12135 SE Lincoln St.; 12135 SE Lincoln St includes two office suites with private offices and marquee signage.; Remodeled lower suite at 12135 SE Lincoln St is available now for an owner‑user.
    (503) 309-5106 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Marissa Lee
    Marissa Lee
    Real Estate License ID: 201221687
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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