Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2636 NE Sandy Blvd Portland, OR 97232

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Dynamic mixed-use property with retail, maker, and creative office spaces.

    Property Features for 2636 NE Sandy Blvd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Josh Bean
    Source: Crexi

    Listing Agency: Ethos Commercial Advisors LLC Portland Listing Agent: Josh Bean

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Adaptive-Use Retail and Office Suites

    This adaptive-use project, completed in 2019, combines small retail, maker, and creative office suites. The property, formerly home to the Pioneer Gas Furnace Company, has been reimagined to preserve its industrial character while integrating modern design. This creates an environment intended for businesses to flourish.
    Location Intelligence

    Current Use by Public Records

    BMAC Studio Marketing & Advertising Kinesis Business Management Consultant Phlewid Films Film Production Rouse Portland Business Service Center Studio Mega Advertising Agency

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6385992
    Latitude
    45.5283322

    Nearby Similar for Lease

    • Contact for pricing

      OR, Portland - 555 SE Martin Luther King Boulevard

      Workspaces, services and support to help you grow your business in OR, Portland - 555 SE Martin Luther King Boulevard
      525 Martin Luther King Blvd, Portland, OR 97214
      View Details
    • Contact for pricing

      Spaces Slabtown

      Find fully flexible work and meeting space in Spaces Slabtown
      2175 Raleigh St, Portland, OR 97210
      View Details
    • Sponsored
      Contact for pricing

      US Bancorp Tower

      Discover many ways to work your way in US Bancorp Tower
      111 5Th Ave, Portland, OR 97204
      View Details
    • Contact for pricing

      River Park Center

      Discover many ways to work your way in River Park Center
      205 Spokane St, Portland, OR 97202
      View Details
    • Contact for pricing

      Liberty center

      Discover many ways to work your way in Liberty center
      650 Holladay St, Portland, OR 97232
      View Details
    • Contact for pricing

      Sixth & Main

      Discover many ways to work your way in Sixth & Main
      1050 6Th Ave, Portland, OR 97204
      View Details
    • Contact for pricing

      Lincoln Center

      Discover many ways to work your way in Lincoln Center
      10260 Greenburg Rd, Portland, OR 97223
      View Details
    • $25 SF/Yr

      1607 and 1611 NE 16th Ave, Portland

      Charming Commercial Space for Lease 1607 and 611 NE 16th Ave, Portland
      1607 NE 16Th Ave # Portland, Portland, OR 97232
      View Details
    • $1,250 /Mo

      NE Sandy Blvd

      Prime NE Sandy Blvd Retail Space
      11518 NE Sandy Blvd, Portland, OR 97232
      View Details
    • $7,400 /Mo
      7,200 SF

      Modern Flex Warehouse/Office Space

      Move-in ready flex space near Burnside with warehouse and office.
      128 Northeast 7Th Ave, Portland, OR 97232
      View Details
    • Contact for pricing
      47,681 SF

      Premier Class A Office Tower

      Class A office tower with excellent access and amenities.
      1201 Northeast Lloyd Blvd, Portland, OR 97232
      View Details
    • $3,750 /Mo

      Steinmetz Building

      Creative Warehouse Office Space (includes utilities, no NNN)
      1415 SE 8Th Ave, Portland, OR 97214
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Dynamic mixed-use property with retail, maker, and creative office spaces.
    Where is this mixed-use property located?
    The property is located at 2636 NE Sandy Blvd Portland, OR.
    What are key features of this property?
    This property features: - Adaptive-use project combining retail, maker, and creative office suites.; - Reimagined by Guerrilla Development, known for innovative projects.; - Completed in 2019, offering modern amenities and infrastructure.
    (503) 205-0610
    Request Owner's contact information
    2636 NE Sandy Blvd Portland, OR 97232
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2636 NE Sandy Blvd
    Portland, OR 97232
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2636 NE Sandy Blvd Portland, OR 97232
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Josh Bean
    Real Estate License ID: 200109039
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!