Remodeled Office
For Sale
$424,500
12724 SE Stark St 68&69 P, Portland, OR 97233
Office condominium space with flexible subdivision, independent entrances, private bathrooms, and surrounding parking.
Property Size1,550 SF
Price / SF$273.87
Days on Market37
Property Features for 12724 SE Stark St 68&69 P
General Information
Standard status
Active
Size
1,550 SF
Additional Details
HOA Fee
$695
Building Details
Year Built
1981
Listing Agency:
Jim Kunkel Realty
(503) 252-1166
Listed By:
Lance Kunkel
Source:
Wyndeekono
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 30 at 9:01PM
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 Street in Portland, Oregon, with updated paint, floor coverings, and window blinds. The layout supports division into two separately owned or leased office units measuring 500 square feet and 1,050 square feet, each with its own entrance and bathroom facilities.
The office condominium complex provides shared exterior maintenance, roofing, grounds keeping, complex management, water, sewer, and garbage through the HOA. Parking surrounds the complex, and signage is available on Stark Street. The business currently operating at the property is excluded from the transaction.
The office condominium complex provides shared exterior maintenance, roofing, grounds keeping, complex management, water, sewer, and garbage through the HOA. Parking surrounds the complex, and signage is available on Stark Street. The business currently operating at the property is excluded from the transaction.
Key Highlights
- Recently remodeled with new paint, floor coverings, and window blinds
- Can be divided into 500‑square‑foot and 1,050‑square‑foot office units
- Separate entrances and bathroom facilities for each proposed unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,064
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,280
$401.3K
Cap Rate 7%
$286,629
$286.6K
Cap Rate 9%
$222,933
$222.9K
Market Conditions
NOI Build-Up for 1,550 SF
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.
Gross rent
$35.3K $22.80/SF
− Vacancy
−$8.6K −$5.54/SF
EGI
$26.8K $17.26/SF
− OpEx
−$6.7K −$4.31/SF
NOI
$20.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,280
Cap Rate 7%
$286,629
Cap Rate 9%
$222,933
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 with flexible subdivision, independent entrances, private bathrooms, 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, floor coverings, and window blinds; Can be divided into 500‑square‑foot and 1,050‑square‑foot office units; Separate entrances and bathroom facilities for each proposed unit
