Multi-Tenant Retail & Office
12255-12297 SW MAIN ST, Portland, OR 97223
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Fully leased single-story building with retail and office tenants, positioned in an Opportunity Zone and MU-CBD zoning.
Type:Retail
Property size:
9,950 SFPrice / SF:
$236/SF- Added:
- Jun 17, 2026
- Days on Market:
- 11
- Last Refresh:
- Jun 20 at 2:34 am
Property Features for 12255-12297 SW MAIN ST
General Information
- Standard status
- Active
- Size
- 9,950 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1935
Listing office SVN Imbrie Realty (503) 208-9400
Listing date Jun 17, 2026
Source Crexi
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 SVN Imbrie Realty
HighLights
- Approximately 9,950 SF single‑story, multi‑tenant retail and office building built in 1935
- Fully leased with six diverse tenants and Year 1 NOI of $158,031
- Offered at $2,350,000 ($236/SF) with a 6.72% in‑place cap rate
- Opportunity Zone property and located within Tigard’s Urban Renewal/TIF District
- Zoned MU‑CBD (Tigard’s MU‑CBD -- most flexible commercial designation noted in remarks)
- In‑place metrics listed: 1.50x debt service coverage ratio and 50% LTV financing assumption
Overview
The Johnson Building is a fully leased, income-producing multi-tenant retail and office property housed in a single-story structure totaling approximately 9,950 SF. The offering is supported by six diverse tenants, creating immediate occupancy and in-place rental income. The property is positioned for an investor looking to acquire ongoing cash flow, with underwriting referenced in the remarks including an in-place cap rate and stated Year 1 NOI.
The building is located in downtown Tigard, Oregon. It is within a federally designated Opportunity Zone and Tigard’s Urban Renewal/TIF District. The remarks also note a City public investment program of $42.8M active through FY 2035-36, which is intended to support surrounding streetscape and infrastructure improvements.
Zoned MU-CBD, the property is described as one of Tigard’s most flexible commercial designations. For buyers evaluating a retail and office mix in a downtown revitalization context, this combination of existing tenant occupancy, MU-CBD zoning flexibility, and Opportunity Zone status is presented as a practical fit for income-focused ownership. Underwriting figures cited in the remarks include a 1.50x debt service coverage ratio and financing assumptions tied to the proposed acquisition terms.
The building is located in downtown Tigard, Oregon. It is within a federally designated Opportunity Zone and Tigard’s Urban Renewal/TIF District. The remarks also note a City public investment program of $42.8M active through FY 2035-36, which is intended to support surrounding streetscape and infrastructure improvements.
Zoned MU-CBD, the property is described as one of Tigard’s most flexible commercial designations. For buyers evaluating a retail and office mix in a downtown revitalization context, this combination of existing tenant occupancy, MU-CBD zoning flexibility, and Opportunity Zone status is presented as a practical fit for income-focused ownership. Underwriting figures cited in the remarks include a 1.50x debt service coverage ratio and financing assumptions tied to the proposed acquisition terms.
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 | $226.9k | $22.80 |
| − Vacancy | −$55.1k | −$5.54 |
| EGI | $171.7k | $17.26 |
| − OpEx | −$42.9k | −$4.31 |
| NOI | $128.8k | $12.94 |
9,950 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.15M
NOI $128,800 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$1.66M
$1.45M – $1.93M
NOI $115,967 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$2.79M
$2.44M – $3.26M
NOI $195,594 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.7705616
- Latitude
- 45.4313771
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Fully leased single-story building with retail and office tenants, positioned in an Opportunity Zone and MU-CBD zoning.
Where is this retail space located?
The property is located at 12255-12297 SW MAIN ST Portland, OR.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Approximately 9,950 SF single‑story, multi‑tenant retail and office building built in 1935; Fully leased with six diverse tenants and Year 1 NOI of $158,031; Offered at $2,350,000 ($236/SF) with a 6.72% in‑place cap rate
