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    825 NE Multnomah St Portland, OR 97232

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    For Lease
    Contact for pricing

    Large Class A office building in Portland's vibrant Lloyd Community.

    Building Details

    Year built
    1981

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    Listing Contact
    Jeff Falconer, Sior
    Source: Corfac

    Listing Agent: Jeff Falconer, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    Class A Office Building Portland

    Lloyd Center Tower is one of the largest office buildings in Portland, situated in the vibrant Lloyd Community with convenient access to the I-5 and I-84 freeways and Portland International Airport. Each floor features eight corner offices offering views. The two-story lobby atrium includes a coffee kiosk. The building provides a productive work environment with services and amenities. Completed in 2024, the building features a ground-floor fitness facility and a second-floor conference center. Additional features include a secured parking structure, a 24-hour lobby attendant, bicycle and property patrols, on-site visitor parking, above-market parking ratios, cantina, dry-cleaning service, jeweler, and banking facilities. Lower-level storage is available. The location offers access to daycare centers, Lloyd Athletic Club, restaurants, hotels, business services, the Oregon Convention Center, Moda Center, MAX light rail, the Blumenauer Bridge, and Tri-Met public transportation. The property has on-site property management and engineering staff. Secured parking is available in the parking garage and surface lot. On-site amenities include a cantina, dry cleaning service, jeweler, and banking. The building is across from Hassalo on Eighth retail and restaurants. Multiple transportation options are available, including MAX Red, Blue & Green Light Rail, TriMet bus lines, the Portland Streetcar, and the Blumenauer Bridge.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sally Li, Peak ... Loan Service Kellie Jenkins, Principal ... Real Estate Agency Meridian Wealth Advisors ... Financial Advisor Guild Mortgage - Shane ... Loan Service Fidelity National Title Title Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.657662
    Latitude
    45.5325605

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    FAQs

    What type of property is this?
    Office building - Large Class A office building in Portland's vibrant Lloyd Community.
    Where is this office building located?
    The property is located at 825 NE Multnomah St Portland, OR.
    What are key features of this property?
    This property features: - New ground-floor fitness facility and second-floor conference center (Just Completed); - Outstanding views from **eight corner offices on each floor**; - Convenient location in Portland's vibrant Lloyd Community with easy access to freeways, airport, and public transportation (MAX, TriMet)
    (503) 307-3075
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    825 NE Multnomah St Portland, OR 97232
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    Portland, OR 97232
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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
    825 NE Multnomah St Portland, OR 97232
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    Listing Contact
    Jeff Falconer, Sior
    (503) 307-3075 (503) 542-4346
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