Remodeled Office
For Sale
$424,500
12724 SE STARK ST 68&69 P, Portland, OR 97233
Office condominium space offers independent entrances, bathroom facilities, and surrounding parking.
Days on Market406
Property Features for 12724 SE STARK ST 68&69 P
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Building Size
1,550 SF
Year Built
1981
Listing Agency:
Jim Kunkel Realty
(503) 260-8906
Listed By:
Lance Kunkel
(503) 260-8906
Source:
Eleeterealestate
Added: Jun 23, 2025
Changed: Jul 31
Last Checked: Aug 2 at 11:50AM
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 Jim Kunkel Realty
Investment Insights
Based on property information with market context.
Remodeled office condominium space at 12724 SE Stark St includes new paint, new floor coverings, and window blinds. The property was built in 1981 and is configured to support two separate office units of 500 square feet and 1,050 square feet, with independent entrance doors and bathroom facilities. The space can be owned and leased as separate office units.
The office condominium complex includes HOA-supported garbage, sewer, water, exterior maintenance including roofing, grounds keeping, and complex management. Ample parking surrounds the office. The business currently operating at the site is not included in the transaction.
The office condominium complex includes HOA-supported garbage, sewer, water, exterior maintenance including roofing, grounds keeping, and complex management. Ample parking surrounds the office. The business currently operating at the site is not included in the transaction.
Key Highlights
- Recently remodeled with new paint, new floor coverings, and window blinds
- Can be subdivided into 500 sq ft and 1,050 sq ft office units
- Independent entrance doors and bathroom facilities support separate office spaces
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 | $35.3k | $22.80 |
| − Vacancy | −$8.6k | −$5.54 |
| EGI | $26.8k | $17.26 |
| − OpEx | −$6.7k | −$4.31 |
| NOI | $20.1k | $12.94 |
1,550 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$286.6K
$250.8K – $334.4K
NOI $20,064 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.3K
$380.9K – $507.8K
NOI $30,469 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium space offers independent entrances, bathroom facilities, and surrounding parking.
Where is this office units located?
The property is located at 12724 SE STARK ST 68&69 P Portland, OR.
What is the asking price?
The asking price for this property is $424,500.
What are key features of this property?
This property features: Recently remodeled with new paint, new floor coverings, and window blinds; Can be subdivided into 500 sq ft and 1,050 sq ft office units; Independent entrance doors and bathroom facilities support separate office spaces
