Two-Building Office
12151 SE LINCOLN St, Portland, OR 97216
For Sale
$1,099,800
CommercialSale, Portland, OR
Property Size6,811 SF
Lot Size0.50 Acres
Price / SF$161.47
Days on Market26
Property Features for 12151 SE LINCOLN St
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
lobby
reception area
conference room
kitchenette
fireplace
marquee signage
Building Details
Year built
Floors in Building
Building materials
Roof type
Buildings
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License OR #199910100
(503) 709-4632
Added: Oct 19
Changed: Nov 11
Last Checked: Nov 13 at 8:06AM
MLS# 788564883
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Two adjoining office buildings provide 6,811 square feet of space across two tax lots. The 4,791-square-foot building has two levels, each with a separate exterior entrance and ramp. Its main floor includes a reception area, conference room, private offices, two bathrooms, and storage; the lower level has open workspace, three offices, a kitchenette, and a bathroom. The neighboring 2,020-square-foot Craftsman-style building offers open workspace, private rooms, a kitchenette, a bathroom, a fireplace, upstairs flexible space, and lower-level utility and storage areas.
The buildings occupy a corner with 175 feet of frontage on SE Lincoln Street and 125 feet on SE 122nd Avenue. Paved on-site parking and marquee signage are also present. The property is zoned CM1, and access is available to SE Stark Street, SE Division Street, and I-205. Any future use or redevelopment is subject to applicable City of Portland approvals.
The buildings occupy a corner with 175 feet of frontage on SE Lincoln Street and 125 feet on SE 122nd Avenue. Paved on-site parking and marquee signage are also present. The property is zoned CM1, and access is available to SE Stark Street, SE Division Street, and I-205. Any future use or redevelopment is subject to applicable City of Portland approvals.
Key Highlights
- Two office buildings contain 6,811 square feet across two tax lots
- 4,791‑square‑foot building has two levels, separate exterior entrances, and ramp access
- Adjoining 2,020‑square‑foot Craftsman‑style building includes a fireplace and upstairs flexible space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,166
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,763,320
$1.8M
Cap Rate 7%
$1,259,514
$1.3M
Cap Rate 9%
$979,622
$979.6K
Market Conditions
NOI Build-Up for 6,811 SF
Gross rent
$155.3K $22.80/SF
− Vacancy
−$37.7K −$5.54/SF
EGI
$117.6K $17.26/SF
− OpEx
−$29.4K −$4.31/SF
NOI
$88.2K $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%
$1,763,320
Cap Rate 7%
$1,259,514
Cap Rate 9%
$979,622
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,166 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,889 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
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Business Placement
Demographics for 97216, OR
17,488
Population
7,235
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,995
Density / Sq Mi
$71,951
Median Household Income
$42,537
Median Earnings
$1,390
Median Rent
$439,000
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Portland, OR
Properties on Market for Office buildings in Portland
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office building - CM1-zoned property combines private offices, open work areas, and separate building entrances.
Where is this office building located?
The property is located at 12151 SE LINCOLN St Portland, OR.
What is the asking price?
The asking price for this property is $1,099,800.
What are key features of this property?
This property features: Two office buildings contain 6,811 square feet across two tax lots; 4,791‑square‑foot building has two levels, separate exterior entrances, and ramp access; Adjoining 2,020‑square‑foot Craftsman‑style building includes a fireplace and upstairs flexible space
