Industrial Property with
For Sale
$1,850,000
2523 NE Argyle St, Portland, OR 97211
Functional loading supports distributor and manufacturer operations with access to I-5 and Marine Drive.
Property Size10,000 SF
Days on Market33
Property Features for 2523 NE Argyle St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Industrial
Additional Details
Highway Access
Yes
Building Details
Building Size
10,000 SF
Year Built
1981
Listing Agency:
Capacity Commercial Group
(503) 517-7127
Listed By:
Christopher Kappes
Source:
Capacitycommercial
Added: Jul 29
Changed: Aug 30
Last Checked: Jun 26 at 12:29PM
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.
This 10,000-square-foot industrial property is configured with loading capabilities that support both distribution and manufacturing operations. The improvements provide a practical base for businesses requiring goods movement and industrial functionality.
The property is located within the North Portland industrial submarket at 2523 NE Argyle St, Portland, OR 97211. Access to I-5 and Marine Drive connects the site with important regional transportation routes and supports movement to and from the facility.
The combination of industrial positioning, loading functionality, and transportation access gives the property a straightforward profile for distributors and manufacturers seeking a Portland facility.
The property is located within the North Portland industrial submarket at 2523 NE Argyle St, Portland, OR 97211. Access to I-5 and Marine Drive connects the site with important regional transportation routes and supports movement to and from the facility.
The combination of industrial positioning, loading functionality, and transportation access gives the property a straightforward profile for distributors and manufacturers seeking a Portland facility.
Key Highlights
- 10,000 square feet of industrial property
- Loading capabilities suited to distributors and manufacturers
- Located in the North Portland industrial submarket
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
$76,214
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
4.12%
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%
$1,524,280
$1.5M
Cap Rate 7%
$1,088,771
$1.1M
Cap Rate 9%
$846,822
$846.8K
Market Conditions
NOI Build-Up for 10,000 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
$96.0K $9.60/SF
− Vacancy
−$6.3K −$0.63/SF
EGI
$89.7K $8.97/SF
− OpEx
−$13.4K −$1.34/SF
NOI
$76.2K $7.62/SF
Area
Portland, OR
Vacancy
6.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,524,280
Cap Rate 7%
$1,088,771
Cap Rate 9%
$846,822
Alternative Uses
Best Use
Warehouse
$1.09M
$952.7K – $1.27M
NOI $76,214 @ 7.0% cap · market cap 4.12%
Second Best
Industrial
$896.6K
$784.6K – $1.05M
NOI $62,765 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,577 @ 7.0% cap · market cap 10.63%
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
795
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Functional loading supports distributor and manufacturer operations with access to I-5 and Marine Drive.
Where is this industrial property located?
The property is located at 2523 NE Argyle St Portland, OR.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 10,000 square feet of industrial property; Loading capabilities suited to distributors and manufacturers; Located in the North Portland industrial submarket
