Office and Apartment Investment
For Sale
$6,750,000
1225 NW MURRAY RD, Portland, OR 97229
22,000SF+ commercial office building plus 12 fully occupied apartment units offered together for sale.
Property Size22,806 SF
Price / SF$306.82
Days on Market173
Property Features for 1225 NW MURRAY RD
General Information
Standard status
Active
Size
22,806 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Neighborhood
Forest Park
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$69,256
Building Details
Building Size
22,806 SF
Year Built
1980
Listing Agency:
Where, Inc.
Listed By:
Suzann Baricevic Murphy · License #860700098
(503) 789-1033
Source:
Eleeterealestate
Added: May 7
Changed: Oct 25
Last Checked: Oct 25 at 12:47AM
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 Where, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 1225 NW Murray Rd, Portland, OR 97229 includes a 22,000SF+ commercial office building and a 12-unit apartment building. Public remarks indicate the buildings are in solid condition, and the apartments are fully occupied.
The office building and residential units are both located on the same site in an excellent SW Washington County location. The seller notes this as an investor opportunity and requests that tenants not be disturbed.
Offers are stated to be subject to interior inspection, which may be important for evaluating the apartments and office space prior to finalizing terms.
The office building and residential units are both located on the same site in an excellent SW Washington County location. The seller notes this as an investor opportunity and requests that tenants not be disturbed.
Offers are stated to be subject to interior inspection, which may be important for evaluating the apartments and office space prior to finalizing terms.
Key Highlights
- 22,000 SF+ commercial office building
- 12‑unit apartment building included
- Apartments are fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$329,670
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,593,400
$6.6M
Cap Rate 7%
$4,709,571
$4.7M
Cap Rate 9%
$3,663,000
$3.7M
Market Conditions
NOI Build-Up for 22,000 SF
Gross rent
$594.0K $27.00/SF
− Vacancy
−$154.4K −$7.02/SF
EGI
$439.6K $19.98/SF
− OpEx
−$109.9K −$5.00/SF
NOI
$329.7K $14.99/SF
Area
ZIP 97229
Vacancy
26.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,593,400
Cap Rate 7%
$4,709,571
Cap Rate 9%
$3,663,000
Alternative Uses
Best Use
Office B
$4.71M
$4.12M – $5.49M
NOI $329,670 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$4.25M
$3.72M – $4.96M
NOI $297,754 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$5.94M
$5.20M – $6.93M
NOI $415,684 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 97229, OR
73,602
Population
28,312
Households
2.6
Avg Household Size
38
Median Age
69%
College-Educated
98%
High-School Grad
19.7 sq mi
ZIP Area
3,736
Density / Sq Mi
$159,863
Median Household Income
$83,904
Median Earnings
$1,948
Median Rent
$728,800
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 - 22,000SF+ commercial office building plus 12 fully occupied apartment units offered together for sale.
Where is this office building located?
The property is located at 1225 NW MURRAY RD Portland, OR.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 22,000 SF+ commercial office building; 12‑unit apartment building included; Apartments are fully occupied
