Industrial Building with Two Demised
18055 Wi NE San Rafael St Portland, OR 97230
For Sale
Contact for pricing
Industrial building with separate entrances and loading doors, including space leased through May 31, 2030.
Property Size40,992 SF
Price / SF$173.57
Days on Market367
Property Features for 18055 Wi NE San Rafael St
General Information
Standard status
Active
Size
40,992 SF
Property subtype
INDUSTRIAL
Listing Agency:
Colliers | Portland
(503) 819-7586
Listed By:
Jon Rubey · License #200606420
(503) 819-7586
Source:
Moodyscre
Added: Jul 29, 2025
Changed: Jul 25
Last Checked: Jul 29 at 3:45PM
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 Colliers | Portland
Investment Insights
Based on property information with market context.
This industrial property is currently demised for two separate tenants, with each space having its own entry and loading doors. Space 1 is leased to a cannabis grow through May 31, 2030, and Space 2 is occupied by the current owner and could be vacated upon closing for an owner-user purchase.
The property is located in the City of Gresham and provides easy access to Interstate 84. While the address is often identified as a Portland address, it is legally within Gresham city limits.
The building includes 2500 amps at 277/480V and 400 amps at 120/208V. An owner-user can occupy a portion of the building, and buyers also have the ability to purchase the building next door.
The property is located in the City of Gresham and provides easy access to Interstate 84. While the address is often identified as a Portland address, it is legally within Gresham city limits.
The building includes 2500 amps at 277/480V and 400 amps at 120/208V. An owner-user can occupy a portion of the building, and buyers also have the ability to purchase the building next door.
Key Highlights
- Industrial building with two demised spaces, each with its own entry and loading doors
- Space 1: 24,354 SF leased to a cannabis grow through May 31, 2030
- Space 2: 16,638 SF currently occupied by the building owner; could be vacated upon closing for an owner‑user purchase
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $688.7k | $16.80 |
| − Vacancy | −$48.2k | −$1.18 |
| EGI | $640.5k | $15.62 |
| − OpEx | −$224.2k | −$5.47 |
| NOI | $416.3k | $10.16 |
40,992 SF · lease $16.80/SF/yr · vacancy 7.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$5.95M
$5.20M – $6.94M
NOI $416,298 @ 7.0% cap · market cap 5.85%
Second Best
Industrial
$3.68M
$3.22M – $4.29M
NOI $257,285 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$11.51M
$10.07M – $13.43M
NOI $805,810 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Ingram Catering — 17505 ne san rafael st, portland, or 97230
Frequently Asked Questions
What type of property is this?
Flex space - Industrial building with separate entrances and loading doors, including space leased through May 31, 2030.
Where is this flex space located?
The property is located at 18055 Wi NE San Rafael St Portland, OR.
What is the asking price?
The asking price for this property is $7,115,000.
What are key features of this property?
This property features: Industrial building with two demised spaces, each with its own entry and loading doors; Space 1: 24,354 SF leased to a cannabis grow through May 31, 2030; Space 2: 16,638 SF currently occupied by the building owner; could be vacated upon closing for an owner‑user purchase
