Office Property with Full
For Sale
$529,900
1516 SE 43RD, Portland, OR 97215
CM2 zoning provides flexibility for commercial uses, subject to applicable zoning and permitting requirements.
Property Size2,224 SF
Price / SF$238.26
Days on Market52
Property Features for 1516 SE 43RD
General Information
Standard status
Active
Size
2,224 SF
Property subtype
Commercial
Zoning
CM2
Site & Location
Neighborhood
Mt. Tabor
Taxes and HOA fees
Annual Taxes
$6,961
Amenities
Composition Roof
Forced Air Heating
On street
Building Details
Year Built
1902
Listing Agency:
JMG - JASON MITCHELL GROUP
(541) 791-7946
Listed By:
DONALD CLEMONS · License #201224779
(971) 533-2212
Source:
Corcoran
Added: Sep 11
Changed: Oct 28
Last Checked: Nov 1 at 5:40AM
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 JMG - JASON MITCHELL GROUP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office property at 1516 SE 43rd in Portland, Oregon, includes a full basement and a reported property size of 2,224. The additional level can support workspace, storage, offices, or studio functions, subject to applicable zoning and permitting requirements. The building dates to 1902 and offers a configuration that can be adapted to an owner-user, investor, or operating business.
CM2 zoning is in place, providing a framework for a variety of commercial uses subject to approval. The property is located in Portland’s 97215 ZIP code and combines an established building with below-grade space for additional functional capacity.
CM2 zoning is in place, providing a framework for a variety of commercial uses subject to approval. The property is located in Portland’s 97215 ZIP code and combines an established building with below-grade space for additional functional capacity.
Key Highlights
- Full basement adds below‑grade space for workspace, storage, offices, or studio functions
- CM2 zoning supports a variety of commercial uses, subject to applicable approvals
- Reported property size of 2,224
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,789
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,780
$575.8K
Cap Rate 7%
$411,271
$411.3K
Cap Rate 9%
$319,878
$319.9K
Market Conditions
NOI Build-Up for 2,224 SF
Gross rent
$50.7K $22.80/SF
− Vacancy
−$12.3K −$5.54/SF
EGI
$38.4K $17.26/SF
− OpEx
−$9.6K −$4.31/SF
NOI
$28.8K $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 Rate 5%
$575,780
Cap Rate 7%
$411,271
Cap Rate 9%
$319,878
Alternative Uses
Best Use
Office B
$411.3K
$359.9K – $479.8K
NOI $28,789 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$624.6K
$546.5K – $728.7K
NOI $43,719 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97215, OR
18,221
Population
7,855
Households
2.3
Avg Household Size
40
Median Age
64%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
7,922
Density / Sq Mi
$114,361
Median Household Income
$62,704
Median Earnings
$1,587
Median Rent
$658,500
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office space - CM2 zoning provides flexibility for commercial uses, subject to applicable zoning and permitting requirements.
Where is this office space located?
The property is located at 1516 SE 43RD Portland, OR.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Full basement adds below‑grade space for workspace, storage, offices, or studio functions; CM2 zoning supports a variety of commercial uses, subject to applicable approvals; Reported property size of 2,224
