Standalone Office Building in
For Sale
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1224 Southeast Oak Street, Portland, OR 97214
Office building in Southeast Portland with open floor plan.
Property Size10,800 SF
Price / SF$310.19
Days on Market1095
Property Features for 1224 Southeast Oak Street
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Office
Zoning
CM2
Site & Location
Neighborhood
Buckman Community Association
Building Details
Year Built
2007
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Macadam Forbes
Listed By:
Tyler Collins · License #OR
(503) 416-0088
Source:
Crexi
Added: Oct 28, 2023
Changed: Oct 25
Last Checked: Oct 26 at 1:52PM
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 Macadam Forbes
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a standalone office building located in the Buckman neighborhood in inner Southeast Portland. The Buckman neighborhood is a historic district known for its vibrant and eclectic atmosphere with a unique blend of residential and commercial areas frequented by locals and tourists alike. The property features newer construction with open floor plans, a roll-up door, and off-street parking. The building has a total size of 10800 square feet. Formerly used in the cannabis business, the property contains all the infrastructure for a grow operation. The building is in great condition and could be converted to office or clinical use.
Key Highlights
- Stand‑alone office building in the heart of Southeast Portland.
- Newer construction (built in 2007) with open floor plans.
- Off‑street parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,803
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,796,060
$2.8M
Cap Rate 7%
$1,997,186
$2.0M
Cap Rate 9%
$1,553,367
$1.6M
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$246.2K $22.80/SF
− Vacancy
−$59.8K −$5.54/SF
EGI
$186.4K $17.26/SF
− OpEx
−$46.6K −$4.31/SF
NOI
$139.8K $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%
$2,796,060
Cap Rate 7%
$1,997,186
Cap Rate 9%
$1,553,367
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.33M
NOI $139,803 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.03M
$2.65M – $3.54M
NOI $212,303 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office building - Office building in Southeast Portland with open floor plan.
Where is this office building located?
The property is located at 1224 Southeast Oak Street Portland, OR.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Stand‑alone office building in the heart of Southeast Portland.; Newer construction (built in 2007) with open floor plans.; Off‑street parking.
