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    1415 SE 8Th Ave Portland, OR 97214

    View on Map
    For Lease
    $3,750 /Mo

    Creative Warehouse Office Space (includes utilities, no NNN)

    Property size:
    2,248 SF
    Added:
    Jan 26, 2026
    Days on Market:
    64
    Last Refresh:
    Mar 30 at 2:32 am

    Property Features for 1415 SE 8Th Ave

    General Information

    Standard status
    Active
    Property type
    Flex space, Industrial properties
    Size
    2,248 SF
    Class
    B
    Total Parking Spaces
    4
    Elevators
    No
    Lease Type
    Modified Gross Lease
    Lease Term
    1-2 Years
    Rate Type
    Monthly

    Building Details

    Year Built
    1940
    Year Renovated
    2016
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Toren Orzeck

    Listing agent Toren

    Listing office

    Listing date Jan 26, 2026

    Overview

    Creative Warehouse Office Space Available

    Located in Central Southeast Portland, between Madison St and Hawthorne Ave on SE 8th Ave, this 2248-square-foot finished warehouse office space resides in the Steinmetz Building. The space features natural light, high ceilings, and a roll-up garage door. It includes an expansive main office area with a polished concrete floor, a separate private conference room or private office, and a shared storage room. A private bathroom includes a large industrial sink. The conference room or private office has an adjacent closed-in space suitable as a kitchenette. Additional features include rebar-reinforced poured concrete construction, four off-street parking spaces in a gated lot behind the building, a rear entrance to the parking lot, and a 12 ft. wide x 14 feet high roll-up overhead door. The space also offers a barrel ceiling, HVAC, a security system, and window blinds on all street-facing exterior windows. Rent includes gas, electric, water, property taxes, insurance, and exterior building maintenance. TriMet and Streetcar stops are nearby, with walking distance to the post office, food carts, coffee shops, and SE Hawthorne Ave shopping, restaurants and beverage purveyors. A private upstairs loft is occupied by an industrial design firm, and use of the workshop is negotiable. The building is locally owned and managed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    FUSE IT Consulting Firm Orp Industries Industrial Manufacturer

    Suggested Use

    Real Estate Agency Restaurant Building Supply Dental Office Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Accent Party Planning — Portland, OR 97214
    • ChefStable Catering — 2136 SE 8th Ave, Portland, OR 97214, United States
    • Sugar Street Catering — 3334, 1430 SE Water Ave #102, Portland, OR 97214
    • Alimenti Event Services, LLC — 1430 SE Water Ave #102, Portland, OR 97214
    • Trailhead Coffee Roasters — 350 SE Mill St, Portland, OR 97214

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6577065
    Latitude
    45.5179307

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    FAQs

    What type of property is this?
    Flex space - Creative Warehouse Office Space (includes utilities, no NNN)
    Where is this flex space located?
    The property is located at 1415 SE 8Th Ave Portland, OR.
    What is the lease rate?
    The lease rate is $3,750 /Mo.
    (503) 869-1817
    We can help!
    Listing Contact
    Toren Orzeck
    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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