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    1607 NE 16Th Ave # Portland, Unit 1611 Portland, OR 97232

    Sponsored
    For Lease
    $25 SF/Yr

    Charming Commercial Space for Lease 1607 and 611 NE 16th Ave, Portland

    Description

    Added:
    Dec 1, 2025
    Days on Market:
    58
    Marketed by KJK Properties, P.C., Kathryn King Principal Broker, 503-997-9035 kathryn at kjkproperties dot com

    Commercial Spaces for Rent 1607 & 1611 NE 16th Ave, Portland, OR 97232

    Details:

    Total Area Per Unit: 952 sq ft (2 spaces available, in total 1904 total sq. ft.)

    1607 NE 16th Ave. = 952 sq. ft.
    1611 NE 16th Ave. = 952 sq. ft.

    Rate: $25 per sq ft/month — $1,984 per month per unit (each)

    Lease Type: Modified Gross

    Flexible lease terms available

    Parking: Each unit includes 2 tandem parking spaces

    1607 NE 16th Ave - 2 tandem parking spaces
    1611 NE 16th Ave - 2 tandem parking spaces


    Utilities:

    Tenant pays directly for electricity, gas, and internet

    Water, sewer, garbage, and landscaping are pro-rated between the 3 units (1603-1611 NE 16th Ave.)

    Central air conditioning

    Layout per unit/side:

    3 private offices
    1 bathroom
    1 full kitchen

    Features:
    Fireplace
    Hardwood floors
    Vintage 1947 tile details
    Vinyl windows
    Full kitchen in each suite
    Full bathroom in each suite
    Oozing with vintage charm

    Perfect for:
    Acupuncture, psychotherapy, massage therapy, accounting, insurance, or other professional service businesses.

    Availability:

    2 suites total available

    Tenant pays 27% of total NNN (Triple Net) per unit (1607 and 1611 respectively)

    Click here for a virtual tour of 1607: https://my.matterport.com/show/?m=NcmLtzfdtm2

    The Lloyd NE Redevelopment Plan: https://prosperportland.us/our-work/lloyd-holladay-tif-district/

    Zoning: https://www.portlandmaps.com/bps/zoning/#/zones/base/CX

    https://www.nebroadway.com/
    Broadway Business Association: tt's a great way to get involved in the area and grow your business.

    Get in on the ground floor of the area renaissance. Read more here! https://www.zgf.com/work/6670-urban-renaissance-group-lloyd-center-redevelopment.

    High traffic counts (11,000 per day) in the Broadway district in a turn-key building oozing with charm. Featuring hardwoods, light paint, updated doors and windows, and a 3 office space suite with it's own kitchen and bathroom perfect for an acupuncture clinic, CPA, law office, mental health practitioners, small business or health providers in combination. Charming 1947 bungalow details include fireplace. The space is laid out to be bifurcated for subletting if desired. Keyless entry, central air and central heat, and 27% of the NNN utilities, landscape, and maintenance. Flexible terms possible. Broadway District Business Association is Alive and Well - a renaissance in full swing! Check out Broadway Business Association to learn all there is to get involved with to promote your business!

    Marketed by KJK Properties, P.C., Kathryn King Principal Broker, 503-997-9035 kathryn at kjkproperties dot com

    Property Features for 1607 NE 16Th Ave # Portland

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Modified Gross Lease
    TSF (Total sq. ft)
    952-952 SF
    Lease Term
    Flexible

    We can help!

    Listing Contact
    kathryn

    Learn more

    Property Insight Report
    Location Intelligence

    Current Use by Public Records

    Medical space

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Hair Salon Spa & Massage Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    State
    Oregon
    Longitude
    -122.6496872
    Latitude
    45.5345414

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    FAQs

    What type of property is this?
    Office Property / Space - Charming Commercial Space for Lease 1607 and 611 NE 16th Ave, Portland
    Where is this office property / space located?
    The property is located at 1607 NE 16Th Ave # Portland, Unit 1611 Portland, OR.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    (503) 997-9035
    Request Owner's contact information
    1607 NE 16Th Ave # Portland, Unit 1611 Portland, OR 97232
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    Portland, OR 97232
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    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
    1607 NE 16Th Ave # Portland, Unit 1611 Portland, OR 97232
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    We can help!
    Listing Contact
    kathryn
    (503) 997-9035
    Learn more
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