Prime NE MLK Blvd
4401 Wi NE Martin Luther King Blvd Portland, OR 97211
4401 Wi NE Martin Luther King Blvd, Portland, OR, 97211
$5,195,000
For Sale
$5,195,000
1.54 AC site with 34,157 SF industrial warehouse.
Property Size34,157 SF
Lot Size1.54 Acres
Price / SF$152.09
Days on Market176
Property Features for 4401 Wi NE Martin Luther King Blvd
General Information
- Standard status
- Active
- Size
- 34,157 SF
- Lot size
- 1.54 Acres
- Property subtype
- Industrial
Listing agency
Capacity Commercial Group
(503) 222-2655
Listed by
Nicholas Diamond · License #OR #200403266
Source
Corfac
Added: Jan 26 Updated: Jul 6 at 9:20AM Checked: Jul 21 at 7:03AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This 1.54 AC site is located along NE MLK Blvd in Portland's King Neighborhood. The property currently consists of a 34,157 SF industrial warehouse with office space. The building has a FAR of 3:1 base and 5:1 bonus. There are over 40 off-street parking spaces. The CM3 zoning allows for a broad range of uses including retail, office, and residential. The location offers high visibility on MLK Blvd with over 58,000 vehicles per day. This property will be delivered vacant, making it suitable for a variety of buyers including owner/users, repurposing of the existing building, or ground-up development.
Key Highlights
- 1.54 AC site with CM3 zoning allowing for retail, office, and residential uses.
- High visibility location on NE MLK Blvd with over 58,000 vehicles per day.
- Delivered vacant, suitable for owner‑user, repurposing, or ground‑up development.
Local Financial Insights For Office B
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 | $778.8k | $22.80 |
| − Vacancy | −$189.2k | −$5.54 |
| EGI | $589.5k | $17.26 |
| − OpEx | −$147.4k | −$4.31 |
| NOI | $442.2k | $12.94 |
34,157 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.32M
$5.53M – $7.37M
NOI $442,152 @ 7.0% cap · market cap 8.51%
Second Best
Retail
$5.69M
$4.98M – $6.64M
NOI $398,100 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$9.59M
$8.39M – $11.19M
NOI $671,449 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
Similar Off Market Nearby
- Extra Space Storage — 2845 NE Columbia Blvd, Portland, OR 97211
- Public Storage — 3260 NE Columbia Blvd, Portland, OR 97211
- The Rachel M. Bristol Warehouse — 7900 NE 33rd Dr, Portland, OR 97211
FAQs
What type of property is this?
Warehouse - 1.54 AC site with 34,157 SF industrial warehouse.
Where is this warehouse located?
The property is located at 4401 Wi NE Martin Luther King Blvd Portland, OR.
What is the asking price?
The asking price for this property is $5,195,000.
What are key features of this property?
This property features: 1.54 AC site with CM3 zoning allowing for retail, office, and residential uses.; High visibility location on NE MLK Blvd with over 58,000 vehicles per day.; Delivered vacant, suitable for owner‑user, repurposing, or ground‑up development.
