Versatile Industrial Property with
81 Northeast Columbia Boulevard, Portland, OR 97211
Industrial property with warehouse, office, retail spaces, and cannabis licenses.
Type:IND, IND-DIST, IND-FLEX
Property size:
16,000 SFPrice / SF:
$190/SF- Added:
- Mar 7, 2024
- Days on Market:
- 807
- Last Refresh:
- Apr 3 at 5:00 am
Property Features for 81 Northeast Columbia Boulevard
General Information
- Standard status
- Active
- Size
- 16,000 SF
- Property subtype
- IND, IND-DIST, IND-FLEX
Listing agent Cameron Schwab License #201220872, Oregon (503) 442-4257
Listing office Keller WIlliams Realty Portland Premiere (503) 442-4257
Listing date Mar 7, 2024
Source Realnex
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 Keller WIlliams Realty Portland Premiere
HighLights
- Approved and transferable retail and wholesale licenses for cannabis.
- 16,000 Sq Ft of versatile industrial space including warehouse, office, and retail areas.
- Secured and paved 15,000 Sq Ft yard with ingress/egress gates.
- Two dock delivery doors for efficient loading/unloading.
- Conditioned main building for climate control.
- Includes two bathrooms, a full kitchen, and office space.
Overview
The property at 81 NE Columbia Blvd is a versatile industrial space encompassing 16,000 square feet of combined warehouse, office, and retail areas. It features two dock delivery doors accessible through the yard, along with two grade doors—one leading into the retail space on the south side and the other to the outbuilding in the yard. Inside, there are two bathrooms, a full kitchen, several open flex spaces, a variety of storage rooms, and office space. Nearly the entire main building is conditioned. The property includes a secured and paved yard on the north end of the building, featuring ingress/egress gates on the west and east sides. The fenced yard spans approximately 15,000 square feet, with an additional 2,000+ square feet of adjacent land on the northeast side of the property. This property also carries approved retail and wholesale licenses for cannabis, which can be transferred to the new owner or lessee. A buyer could also potentially transfer or sell the licenses to other properties.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$2.30M
NOI $207,115 @ 9.00% cap · cautious / downside scenario
Moderate
$2.96M
NOI $207,115 @ 7.00% cap · market / base-case scenario
Aggressive
$4.14M
NOI $207,115 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $364.8k | $22.80 |
| − Vacancy | −$88.6k | −$5.54 |
| EGI | $276.2k | $17.26 |
| − OpEx | −$69.0k | −$4.31 |
| NOI | $207.1k | $12.94 |
16,000 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.96M
$2.59M – $3.45M
NOI $207,115 @ 7.0% cap · market cap 6.78%
Second Best
Retail
$2.66M
$2.33M – $3.11M
NOI $186,480 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,524 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar Places Nearby
- Cocoa N' Lola — 728 N Russet St, Portland, OR 97217
- Duces LLC — 6903 N Albina Ave, Portland, OR 97217
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.6649834
- Latitude
- 45.5824725
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Industrial property with warehouse, office, retail spaces, and cannabis licenses.
Where is this flex space located?
The property is located at 81 Northeast Columbia Boulevard Portland, OR.
What is the asking price?
The asking price for this property is $3,055,600.
What are key features of this property?
This property features: Approved and transferable retail and wholesale licenses for cannabis.; 16,000 Sq Ft of versatile industrial space including warehouse, office, and retail areas.; Secured and paved 15,000 Sq Ft yard with ingress/egress gates.
