Two-Building Office
For Sale
$880,000
12715 NE Halsey St, Portland, OR 97230
Includes one leased office building and a second vacant structure for occupancy.
Property Size3,600 SF
Lot Size0.43 Acres
Price / SF$244.44
Days on Market49
Property Features for 12715 NE Halsey St
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
18
Lot size
0.43 Acres
Zoning
CM1
Additional Details
Public Transit
Yes
Building Details
Year Built
1973
Buildings
2
Listing Agency:
Brokers Realty, Inc
Listed By:
Marian Hsu · License #780302012
(503) 292-5600
Source:
Apexgroupnw
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 5 at 7:34PM
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 Brokers Realty, Inc
Investment Insights
Based on property information with market context.
The property includes two office buildings totaling 3,600 square feet, with 1,800 square feet in each structure. One building is leased, while the second is vacant. The 0.43-acre site provides 18 parking spaces, and both the HVAC systems and roof date to 2017. Prior uses included law and chiropractic offices.
Located at 12715 NE Halsey in Portland, the property is on the #77 busline and is zoned CM1. The site does not have a sign.
Located at 12715 NE Halsey in Portland, the property is on the #77 busline and is zoned CM1. The site does not have a sign.
Key Highlights
- Two office buildings totaling 3,600 square feet, with 1,800 square feet in each building
- One 1,800‑square‑foot building is leased; the second 1,800‑square‑foot building is vacant
- 0.43‑acre site with 18 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,601
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,020
$932.0K
Cap Rate 7%
$665,729
$665.7K
Cap Rate 9%
$517,789
$517.8K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$82.1K $22.80/SF
− Vacancy
−$19.9K −$5.54/SF
EGI
$62.1K $17.26/SF
− OpEx
−$15.5K −$4.31/SF
NOI
$46.6K $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%
$932,020
Cap Rate 7%
$665,729
Cap Rate 9%
$517,789
Alternative Uses
Best Use
Office B
$665.7K
$582.5K – $776.7K
NOI $46,601 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$884.6K – $1.18M
NOI $70,768 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 97230, OR
41,562
Population
17,190
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
13.9 sq mi
ZIP Area
2,990
Density / Sq Mi
$70,582
Median Household Income
$41,102
Median Earnings
$1,511
Median Rent
$435,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Office building - Includes one leased office building and a second vacant structure for occupancy.
Where is this office building located?
The property is located at 12715 NE Halsey St Portland, OR.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Two office buildings totaling 3,600 square feet, with 1,800 square feet in each building; One 1,800‑square‑foot building is leased; the second 1,800‑square‑foot building is vacant; 0.43‑acre site with 18 parking spaces
