Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1415 SE 8Th Ave Portland, OR 97214

    Sponsored
    For Lease
    $3,750 /Mo ($3,750 /Mo)

    Creative Warehouse Office Space (includes utilities, no NNN)

    Description

    Added:
    Jan 26, 2026
    Days on Market:
    2
    Rent includes 4 off street parking spaces, gas, electric, water, property taxes, insurance and exterior building maintenance.

    2248sf finished warehouse office space located in Central Southeast Portland, between Madison St and Hawthorne Ave on SE 8th Ave. in the storied Steinmetz building.
    Space has plenty of natural light and high ceilings with roll up garage door to add to spaciousness. Includes expansive main office area with polished concrete floor, separate private conference room (or private office) as well as a shared storage room . Also has private bathroom with large industrial sink . Conference room / private office has an adjacent closed-in space that can be used as kitchenette for coffee and/or staging for catering meetings. Great for creative teams. Overall, it's a pretty cool space.

    Additional Features:
    - Rebar reinforced poured concrete construction (earthquakes-smearthquakes)
    - Off street parking in gated lot behind building (4 parking spaces)
    - Rear entrance, (man sized door) to parking lot
    - Roll-up over head door, 12 ft. wide x 14 feet high - great for loading and unloading
    - Barrel ceiling (2 stories high- great for indoor RC helicopter flying )
    - HVAC (total temperature control for heating and cooling)
    - Security system
    - Window blinds on all street facing exterior windows
    - Tree manicured by Harrity Trees
    - Locally owned and locally managed

    TriMet and Streetcar stops nearby and is walking distance to the post office, numerous food carts and coffee shops, as well as SE Hawthorne Ave shopping, restaurants and beverage purveyors.

    Private upstairs loft is occupied by an industrial design firm. Use of workshop is negotiable.


    Available now. Showings by appointment.

    Property Features for 1415 SE 8Th Ave

    General Information

    Property type
    Flex space
    Lease Type
    Modified Gross Lease
    TSF (Total sq. ft)
    2,248-2,248 SF
    USF (Usable sq. ft)
    2,248 SF
    Class
    B
    Total Parking Spaces
    4
    Elevators
    No
    Total Rate
    3750
    Lease Term
    1-2 Years

    Building Details

    Year Built/Renovated
    1940/2016
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Toren Orzeck

    Learn more

    Property Insight Report
    Location Intelligence

    Current Use by Public Records

    FUSE Industrial Design Company Orp Industries Manufacturer

    Suggested Use

    Realty agency Restaurant Building Supply Dental Office Law Firm Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    State
    Oregon
    Longitude
    -122.6577065
    Latitude
    45.5179307

    Nearby Similar for Lease

    • Contact for pricing
      206,497 SF

      Proposed Office Development in Oregon Square

      Two-building office campus in Lloyd Neighborhood with sustainable design.
      827 NE Oregon St, Portland, OR 97232
      View Details
    • Contact for pricing
      31,936 SF

      Creative Class A Office Space

      Creative, Class A office space with modern amenities in revitalized Lloyd District.
      710 NE Holladay St, Portland, OR 97232
      View Details
    • Contact for pricing
      453,701 SF

      Class A Office Building Portland

      Large Class A office building in Portland's vibrant Lloyd Community.
      825 NE Multnomah St, Portland, OR 97232
      View Details
    • Contact for pricing
      261,955 SF

      Class A Office Building

      Class A office building in Portland's Lloyd Community.
      700 NE Multnomah St, Portland, OR 97232
      View Details
    • $17 SF/Yr
      133,804 SF

      Remodeled Historic Building with Flex Space

      Creative office, tech, flex, and retail spaces in Portland's Central Eastside.
      107 SE Washington St, Portland, OR 97214
      View Details
    • Contact for pricing

      Move-in Ready Medical Office Space

      Spacious medical office with modern finishes and ample parking.
      10202 East Burnside St, Portland, OR 97216
      View Details
    • $25 SF/Yr
      137,519 SF

      Retail/Service Space on Burnside

      Retail and service spaces available in a new mixed-use building.
      77 NE Grand Ave, Portland, OR 97232
      View Details
    • $30 SF/Yr
      275,000 SF

      Pearl District Retail Restaurant Space

      First-generation retail, restaurant, and service spaces in new mixed-use building.
      1430 NW Hoyt St, Portland, OR 97209
      View Details
    • $17 SF/Yr
      9,668 SF

      Prime Retail Space Downtown Portland

      Rare retail opportunity near hotels and upcoming public market.
      800 SW Washington St, Portland, OR 97205
      View Details
    • $27 SF/Yr
      224,000 SF

      Downtown Portland Retail/Service/Café Space

      Retail spaces available in downtown Portland's West End.
      1221 SW 11Th Ave, Portland, OR 97205
      View Details
    • $24 SF/Yr
      5,000 SF

      Prime Retail Opportunity on Hawthorne

      Two retail suites available in a vibrant Portland location.
      3321 SE Hawthorne Blvd, Portland, OR 97214
      View Details
    • $37 SF/Yr
      220,889 SF

      Class A Office Space Available

      Premier office space in a 30-story mixed-use building.
      760 SW Ninth Ave, Portland, OR 97205
      View Details

    FAQs

    What type of property is this?
    Flex space - Creative Warehouse Office Space (includes utilities, no NNN)
    Where is this flex space located?
    The property is located at 1415 SE 8Th Ave Portland, OR.
    What is the lease rate?
    The lease rate is $3,750 /Mo.
    (503) 869-1817
    Request Owner's contact information
    1415 SE 8Th Ave Portland, OR 97214
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1415 SE 8Th Ave
    Portland, OR 97214
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1415 SE 8Th Ave Portland, OR 97214
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Toren Orzeck
    (503) 869-1817
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.