EX-Zoned Live-Work
For Sale
$395,000
1314 NW IRVING St, Portland, OR 97209
CommercialSale, Portland, OR
Property Size1,635 SF
Price / SF$241.59
Days on Market157
Property Features for 1314 NW IRVING St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
EX
View
City
Directions
Corner of NW Irving St. at NW 13th Ave.
Subdivision
_148
Standard status
Active
APN
R187358
Size
1,635 SF
Taxes and HOA fees
Tax Description
IRVING STREET LOFTS,A CONDOMINIUM, LOT 308
Tax Annual Amount
9033
Legal Description
IRVING STREET LOFTS,A CONDOMINIUM, LOT 308
Utilities
Heating system
Zoned
Amenities
shared rooftop deck
private storage unit
Building Details
Year built
1925
Roof type
Built-Up
Listing Agency:
Josh Reiter Real Estate
(503) 706-1411
Listed By:
Josh Reiter
(503) 706-1411
Added: Mar 23
Changed: Jun 26
Last Checked: Aug 26 at 4:06AM
MLS# 307462444
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1314 NW Irving St, this 1,635-square-foot loft provides a combined residential and workspace configuration under EX zoning. The interior includes 11-foot ceilings, extensive tile and natural stone finishes, an updated kitchen with stainless steel appliances, an updated bath, halogen pendant lighting, new carpet, and fresh interior paint. Zoned heating serves the space, and the building dates to 1925.
Ownership includes deeded parking in a secure garage and a large private storage unit. Residents also have access to a shared rooftop deck with panoramic views. MAX Light Rail and the Portland Streetcar are readily accessible, while the property carries a Walk Score of 99. The address is within Portland’s Pearl District and its warehouse neighborhood setting.
Ownership includes deeded parking in a secure garage and a large private storage unit. Residents also have access to a shared rooftop deck with panoramic views. MAX Light Rail and the Portland Streetcar are readily accessible, while the property carries a Walk Score of 99. The address is within Portland’s Pearl District and its warehouse neighborhood setting.
Key Highlights
- 1,635‑square‑foot loft with EX zoning for combined residential and workspace use
- 11‑foot ceilings with abundant natural light
- Updated kitchen and bath with stainless steel appliances
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
$22,073
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
5.59%
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%
$441,460
$441.5K
Cap Rate 7%
$315,329
$315.3K
Cap Rate 9%
$245,256
$245.3K
Market Conditions
NOI Build-Up for 1,635 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
$39.2K $24.00/SF
− Vacancy
−$3.9K −$2.40/SF
EGI
$35.3K $21.60/SF
− OpEx
−$13.2K −$8.10/SF
NOI
$22.1K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$441,460
Cap Rate 7%
$315,329
Cap Rate 9%
$245,256
Alternative Uses
Best Use
Mixed Use
$315.3K
$275.9K – $367.9K
NOI $22,073 @ 7.0% cap · market cap 5.59%
Second Best
Office B
$302.4K
$264.6K – $352.8K
NOI $21,165 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$459.1K
$401.8K – $535.7K
NOI $32,140 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,690
Businesses Nearby
Explore this area
Business Placement
Demographics for 97209, OR
22,755
Population
16,437
Households
1.4
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
1.0 sq mi
ZIP Area
22,755
Density / Sq Mi
$84,059
Median Household Income
$68,731
Median Earnings
$1,669
Median Rent
$573,700
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.
Frequently Asked Questions
What type of property is this?
Live-work space - An adaptable loft combines residential and workspace use with updated kitchen and bath finishes.
Where is this live-work space located?
The property is located at 1314 NW IRVING St Portland, OR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,635‑square‑foot loft with EX zoning for combined residential and workspace use; 11‑foot ceilings with abundant natural light; Updated kitchen and bath with stainless steel appliances
