Updated Multi-Tenant Office
For Sale
$1,000,000
12290 MAIN ST, Portland, OR 97223
Open-plan commercial building with upgraded mechanical systems and space ready for occupancy.
Property Size3,436 SF
Price / SF$291.04
Days on Market563
Property Features for 12290 MAIN ST
General Information
Standard status
Active
Size
3,436 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,992
Amenities
fireplace
Central Air
3
Flat
Parking.
14 Parking Spaces. Leased, Off Street.
SqFt0Kto2999
Office/Library. Paved Road.
Building Details
Year Built
1976
Tenancy
Multi
Listing Agency:
Liberty First Realty, LLC
(503) 278-5334
Listed By:
James White · License #200702330
(503) 278-5342
Source:
Xome
Added: Feb 17, 2025
Changed: Sep 2
Last Checked: Sep 2 at 2:51PM
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 Liberty First Realty, LLC
Investment Insights
Based on property information with market context.
This 3,436-square-foot office building at 12290 SW MAIN St in Portland offers a multi-occupant configuration with an open-concept interior. Improvements include upgraded HVAC and air-conditioning systems, a fireplace, and signage at both the building and monument levels. The property was built in 1976 and is positioned for professional office use, with retail use also identified in the property information.
A transferable TriMet parking lease provides up to 14 parking spaces, including off-street parking. The site is near multiple multi-lane arterial roads, state highways, and interstates, supporting access to the surrounding Portland-area workforce and customer base. The property carries the MU-SBD designation.
A transferable TriMet parking lease provides up to 14 parking spaces, including off-street parking. The site is near multiple multi-lane arterial roads, state highways, and interstates, supporting access to the surrounding Portland-area workforce and customer base. The property carries the MU-SBD designation.
Key Highlights
- 3,436‑square‑foot multi‑occupant office building
- Open‑concept interior with fireplace and upgraded HVAC/A‑C systems
- Transferable TriMet parking lease with up to 14 parking spots
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
$44,478
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
4.45%
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%
$889,560
$889.6K
Cap Rate 7%
$635,400
$635.4K
Cap Rate 9%
$494,200
$494.2K
Market Conditions
NOI Build-Up for 3,436 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
$78.3K $22.80/SF
− Vacancy
−$19.0K −$5.54/SF
EGI
$59.3K $17.26/SF
− OpEx
−$14.8K −$4.31/SF
NOI
$44.5K $12.94/SF
Area
ZIP 97223
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%
$889,560
Cap Rate 7%
$635,400
Cap Rate 9%
$494,200
Alternative Uses
Best Use
Office B
$635.4K
$556.0K – $741.3K
NOI $44,478 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$964.9K
$844.3K – $1.13M
NOI $67,544 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 97223, OR
49,967
Population
21,428
Households
2.3
Avg Household Size
39
Median Age
50%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
4,502
Density / Sq Mi
$108,040
Median Household Income
$57,411
Median Earnings
$1,726
Median Rent
$577,600
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 building - Open-plan commercial building with upgraded mechanical systems and space ready for occupancy.
Where is this office building located?
The property is located at 12290 MAIN ST Portland, OR.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,436‑square‑foot multi‑occupant office building; Open‑concept interior with fireplace and upgraded HVAC/A‑C systems; Transferable TriMet parking lease with up to 14 parking spots
