Flex Building With Warehouse
For Sale
Contact for pricing
4700 SE International Way, Milwaukie, OR 97222
The property combines office areas, workspaces, meeting areas, and clean warehouse space in a functional commercial layout.
Property Size12,402 SF
Price / SF$301.56
Days on Market657
Property Features for 4700 SE International Way
General Information
Standard status
Active
Size
12,402 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
kitchenette
break room
conference space
green space
walking paths
Building Details
Abandoned
No
Listing Agency:
Urban Works Real Estate
(503) 228-3274
Listed By:
Tyler Bruss
(503) 228-3274
Source:
Moodyscre
Added: Nov 11, 2024
Changed: Aug 30
Last Checked: Aug 30 at 3:30AM
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 Urban Works Real Estate
Investment Insights
Based on property information with market context.
This 12,402-square-foot flex property combines office and warehouse functions within a coordinated interior layout. The building includes open work areas, private offices, a kitchenette, break room, conference room, a substantial entry area, and clean warehouse space served by two roll-up bay doors. Expansive windows and skylights bring natural light throughout the interior.
The property has a dedicated monument sign oriented toward the Milwaukie Expressway, which carries 30,417 CPD. Major highways and freeways are accessible from the site, while public transit is nearby. Exterior amenities include green space and pedestrian walking paths, adding usable outdoor areas to the commercial setting.
The property has a dedicated monument sign oriented toward the Milwaukie Expressway, which carries 30,417 CPD. Major highways and freeways are accessible from the site, while public transit is nearby. Exterior amenities include green space and pedestrian walking paths, adding usable outdoor areas to the commercial setting.
Key Highlights
- 12,402‑square‑foot flex building with office and warehouse components
- Two roll‑up bay doors serving the warehouse area
- Dedicated monument sign facing the Milwaukie Expressway
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
$219,464
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
5.87%
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%
$4,389,280
$4.4M
Cap Rate 7%
$3,135,200
$3.1M
Cap Rate 9%
$2,438,489
$2.4M
Market Conditions
NOI Build-Up for 12,402 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
$367.6K $29.64/SF
− Vacancy
−$30.0K −$2.42/SF
EGI
$337.6K $27.22/SF
− OpEx
−$118.2K −$9.53/SF
NOI
$219.5K $17.70/SF
Area
Clackamas County, OR
Vacancy
8.15%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
35.00%
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%
$4,389,280
Cap Rate 7%
$3,135,200
Cap Rate 9%
$2,438,489
Alternative Uses
Best Use
Flex RnD
$3.14M
$2.74M – $3.66M
NOI $219,464 @ 7.0% cap · market cap 5.87%
Second Best
Office B
$2.29M
$2.01M – $2.68M
NOI $160,540 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,332 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97222, OR
36,316
Population
16,910
Households
2.1
Avg Household Size
41
Median Age
38%
College-Educated
95%
High-School Grad
8.6 sq mi
ZIP Area
4,223
Density / Sq Mi
$77,441
Median Household Income
$48,298
Median Earnings
$1,592
Median Rent
$465,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The property combines office areas, workspaces, meeting areas, and clean warehouse space in a functional commercial layout.
Where is this flex space located?
The property is located at 4700 SE International Way Milwaukie, OR.
What is the asking price?
The asking price for this property is $3,740,000.
What are key features of this property?
This property features: 12,402‑square‑foot flex building with office and warehouse components; Two roll‑up bay doors serving the warehouse area; Dedicated monument sign facing the Milwaukie Expressway
