Medical Office with Covered Break
For Sale
Contact for pricing
15390 SW 116TH AVE, Portland, OR 97224
Four private rooms support massage, wellness, healthcare, and other professional services.
Property Size906 SF
Price / SF$494.48
Days on Market67
Property Features for 15390 SW 116TH AVE
General Information
Standard status
Active
Size
906 SF
Property subtype
Land
Amenities
shower
laundry area
covered outdoor break space
Listing Agency:
Keller Williams Commercial Portland
Listed By:
Heather Miller · License #201212192
(503) 310-1935
Source:
Crexi
Added: Aug 27
Changed: Oct 25
Last Checked: Nov 1 at 5:34AM
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 Keller Williams Commercial Portland
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 906-square-foot medical office is configured for owner-user operation, with four private treatment rooms arranged alongside a shower and dedicated laundry area. The property also includes a covered outdoor break space for staff use, creating a practical workplace for massage, wellness, healthcare, or other professional services.
Located at 15390 SW 116th Ave in Portland, Oregon, the space combines client-facing rooms with support areas in an efficient single-office layout.
Located at 15390 SW 116th Ave in Portland, Oregon, the space combines client-facing rooms with support areas in an efficient single-office layout.
Key Highlights
- 906 SF medical office layout
- Four private treatment rooms
- Shower and dedicated laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,203
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,060
$264.1K
Cap Rate 7%
$188,614
$188.6K
Cap Rate 9%
$146,700
$146.7K
Market Conditions
NOI Build-Up for 906 SF
Gross rent
$23.9K $26.40/SF
− Vacancy
−$1.9K −$2.11/SF
EGI
$22.0K $24.29/SF
− OpEx
−$8.8K −$9.72/SF
NOI
$13.2K $14.57/SF
Area
Portland, OR
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,060
Cap Rate 7%
$188,614
Cap Rate 9%
$146,700
Alternative Uses
Best Use
Healthcare Medical
$188.6K
$165.0K – $220.1K
NOI $13,203 @ 7.0% cap · market cap 2.95%
Second Best
Office B
$167.5K
$146.6K – $195.5K
NOI $11,728 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$254.4K
$222.6K – $296.8K
NOI $17,810 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97224, OR
37,365
Population
15,938
Households
2.3
Avg Household Size
43
Median Age
48%
College-Educated
94%
High-School Grad
9.0 sq mi
ZIP Area
4,152
Density / Sq Mi
$94,456
Median Household Income
$55,802
Median Earnings
$1,693
Median Rent
$579,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
Similar Off Market Nearby
- Willowbrook Veterinary Hospital — 11545 SW Durham Rd, Tigard, OR 97224
- Petco Vaccination Clinic — 15660 SW Pacific Hwy, Tigard, OR 97224
- Tigard Animal Hospital — 15294 SW Royalty Pkwy, Tigard, OR 97224
- Canterbury Animal Hospital — 14350 SW Pacific Hwy, Tigard, OR 97224
Frequently Asked Questions
What type of property is this?
Medical Office Space - Four private rooms support massage, wellness, healthcare, and other professional services.
Where is this medical office space located?
The property is located at 15390 SW 116TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $448,000.
What are key features of this property?
This property features: 906 SF medical office layout; Four private treatment rooms; Shower and dedicated laundry area
