Medical Office with Treatment
15390 SW 116TH Ave, Portland, OR 97224
For Sale
$448,000
CommercialSale, Portland, OR
Property Size906 SF
Lot Size0.13 Acres
Price / SF$494.48
Days on Market49
Property Features for 15390 SW 116TH Ave
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
shower
laundry area
covered outdoor break space
Building Details
Year built
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Heather Miller
(503) 310-1935
Added: Sep 28
Changed: Oct 10
Last Checked: Nov 15 at 4:06AM
MLS# 542290400
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 906-square-foot medical office space is configured with four private treatment rooms, a shower, a laundry area, and a covered outdoor break space. Built in 1978, the property occupies a 0.13-acre lot and is zoned LC.
The room arrangement and service areas are established within a modest-sized professional setting, with the covered outdoor area providing an additional break space.
The room arrangement and service areas are established within a modest-sized professional setting, with the covered outdoor area providing an additional break space.
Key Highlights
- 906 square feet on a 0.13‑acre lot
- Four private treatment rooms
- Shower and 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.
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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
$579,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in Portland, OR
Properties on Market for Medical Office Space in Portland
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A compact professional suite includes private rooms, a shower, laundry area, and covered outdoor break space.
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 square feet on a 0.13‑acre lot; Four private treatment rooms; Shower and laundry area
