Office Building with Rear
For Sale
Contact for pricing
1737 NE Broadway St, Portland, OR 97212
Multi-office property with updated finishes, room-by-room mini-split heating and cooling, and restrooms serving each level.
Property Size3,648 SF
Price / SF$150.77
Days on Market504
Property Features for 1737 NE Broadway St
General Information
Standard status
Active
Size
3,648 SF
Property subtype
OFFICE
Amenities
New appliances
Mini-Split units
Bathrooms on each floor
Rear parking lot
Listing Agency:
Macadam Forbes
(503) 972-7297
Listed By:
Zach Reichle
Source:
Moodyscre
Added: Apr 15, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:31AM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
This 3,648-square-foot office building is arranged with multiple offices and includes new appliances and fresh paint. Mini-split units serve each room throughout the property, while bathrooms are provided on each floor. A rear parking lot supports on-site access for occupants and visitors.
The property is located at 1737 NE Broadway St in Portland, Oregon. Its combination of individual office areas, updated interior elements, distributed climate control, floor-by-floor restroom access, and rear parking provides a practical configuration for office use.
The property is located at 1737 NE Broadway St in Portland, Oregon. Its combination of individual office areas, updated interior elements, distributed climate control, floor-by-floor restroom access, and rear parking provides a practical configuration for office use.
Key Highlights
- 3,648‑square‑foot office building with multiple offices
- New appliances and fresh paint
- Mini‑split units installed in each room throughout the building
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
$47,222
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
8.59%
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%
$944,440
$944.4K
Cap Rate 7%
$674,600
$674.6K
Cap Rate 9%
$524,689
$524.7K
Market Conditions
NOI Build-Up for 3,648 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
$83.2K $22.80/SF
− Vacancy
−$20.2K −$5.54/SF
EGI
$63.0K $17.26/SF
− OpEx
−$15.7K −$4.31/SF
NOI
$47.2K $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%
$944,440
Cap Rate 7%
$674,600
Cap Rate 9%
$524,689
Alternative Uses
Best Use
Office B
$674.6K
$590.3K – $787.0K
NOI $47,222 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$896.4K – $1.20M
NOI $71,711 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,959
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
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 - Multi-office property with updated finishes, room-by-room mini-split heating and cooling, and restrooms serving each level.
Where is this office building located?
The property is located at 1737 NE Broadway St Portland, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,648‑square‑foot office building with multiple offices; New appliances and fresh paint; Mini‑split units installed in each room throughout the building
