Freestanding Manufacturing
For Sale
$3,000,000
5440 NE Columbia Blvd, Portland, OR 97218
Freestanding industrial building with office/showroom space, 28' clear height, and multiple grade-level and dock-high doors.
Property Size18,737 SF
Lot Size1.70 Acres
Price / SF$160.11
Days on Market20
Property Features for 5440 NE Columbia Blvd
General Information
Standard status
Active
Size
18,737 SF
Lot size
1.70 Acres
Property subtype
Industrial
Zoning
GM
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
28 ft
Dock-High Doors
1
Drive-In Doors
4
Heavy Power
Yes
Building Details
Building Size
18,737 SF
Year Built
1965
Listing Agency:
Capacity Commercial Group
(503) 781-4008
Listed By:
Don Ossey, SIOR · License #201233429
(503) 781-4008
Source:
Corfac
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 11 at 6:23AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
Freestanding ±18,737 SF industrial/manufacturing building on a ±1.70-acre secure, fenced lot. The functional layout includes ±3,600 SF of office/showroom space and ±15,137 SF of warehouse/manufacturing space. The warehouse area offers ±28' clear height throughout, supported by a heavy power supply described as 3-phase 440V, suitable for industrial or manufacturing equipment.
Loading is supported by four grade-level doors and one dock-high door. The property also includes ample fenced yard space for outdoor storage, trailer parking, or fleet operations. Zoned GM (General Manufacturing), it supports a broad range of industrial uses.
The property is described as having excellent access and visibility along NE Columbia Blvd and proximity to I-5, I-205, and PDX, with availability for immediate occupancy.
Loading is supported by four grade-level doors and one dock-high door. The property also includes ample fenced yard space for outdoor storage, trailer parking, or fleet operations. Zoned GM (General Manufacturing), it supports a broad range of industrial uses.
The property is described as having excellent access and visibility along NE Columbia Blvd and proximity to I-5, I-205, and PDX, with availability for immediate occupancy.
Key Highlights
- Freestanding ±18,737 SF industrial/manufacturing building on a 1.70‑acre secure fenced lot
- Includes ±3,600 SF office/showroom and ±15,137 SF warehouse/manufacturing space with functional layout
- Warehouse offers 28' clear height throughout
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
$242,545
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
8.08%
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%
$4,850,900
$4.9M
Cap Rate 7%
$3,464,929
$3.5M
Cap Rate 9%
$2,694,944
$2.7M
Market Conditions
NOI Build-Up for 18,737 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
$427.2K $22.80/SF
− Vacancy
−$103.8K −$5.54/SF
EGI
$323.4K $17.26/SF
− OpEx
−$80.8K −$4.31/SF
NOI
$242.5K $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%
$4,850,900
Cap Rate 7%
$3,464,929
Cap Rate 9%
$2,694,944
Alternative Uses
Best Use
Office B
$3.46M
$3.03M – $4.04M
NOI $242,545 @ 7.0% cap · market cap 8.08%
Second Best
Flex RnD
$2.72M
$2.38M – $3.17M
NOI $190,285 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$5.26M
$4.60M – $6.14M
NOI $368,327 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28 ft
Clear height
1
Dock-high doors
4
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Finer Things Events and Catering — 5124 NE 42nd Ave, Portland, OR 97218
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial building with office/showroom space, 28' clear height, and multiple grade-level and dock-high doors.
Where is this flex space located?
The property is located at 5440 NE Columbia Blvd Portland, OR.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Freestanding ±18,737 SF industrial/manufacturing building on a 1.70‑acre secure fenced lot; Includes ±3,600 SF office/showroom and ±15,137 SF warehouse/manufacturing space with functional layout; Warehouse offers 28' clear height throughout
