Turn-Key Medical Office
For Sale
Contact for pricing
Pending
18445 E Burnside, Portland, OR 97233
Fully renovated office space with flexible layout and off-street parking, suited for medical and human services uses.
Property Size5,012 SF
Lot Size0.24 Acres
Days on Market58
Property Features for 18445 E Burnside
General Information
Standard status
Pending
Size
5,012 SF
Class
C
Lot size
0.24 Acres
Property subtype
Office
Zoning
Rockwood Town Center (RTC)
Investment Type
Owner/User
Additional Details
Business Included
Yes
Building Details
Year Built
1956
Year Renovated
2023
Units
4
Listing Agency:
(971) 341-5218
Listed By:
Teresa Peterson · License #201238319
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 6 at 6:27AM
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 Teresa Peterson
Investment Insights
Based on property information with market context.
This fully renovated, turn-key commercial office property offers a modern, ready-to-occupy interior with a flexible layout designed to support a range of professional uses. The building is presented as a complete office setting for immediate operations, with practical finishes and amenities suitable for tenant move-in.
Located in the heart of Rockwood, the property sits across from Rockwood Market Hall and near major transit. The setting is transit-oriented with access for both clients and staff, complemented by off-street parking that helps reduce friction for daily visits and appointments.
The configuration and presentation align well with mission-driven organizations, including non-profits and human services groups, as well as medical office users seeking a contemporary workplace. For buyers or tenants looking for an office environment that can be put to work quickly, this property’s renovated condition, flexible interior, and client-friendly access provide a straightforward path to opening or expanding services in the Rockwood community.
Located in the heart of Rockwood, the property sits across from Rockwood Market Hall and near major transit. The setting is transit-oriented with access for both clients and staff, complemented by off-street parking that helps reduce friction for daily visits and appointments.
The configuration and presentation align well with mission-driven organizations, including non-profits and human services groups, as well as medical office users seeking a contemporary workplace. For buyers or tenants looking for an office environment that can be put to work quickly, this property’s renovated condition, flexible interior, and client-friendly access provide a straightforward path to opening or expanding services in the Rockwood community.
Key Highlights
- Fully renovated commercial office space built in 1956
- 5,012 SF office building on 0.24 acres
- Flexible layout designed for non‑profits, medical offices, and human services
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,039
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,460,780
$1.5M
Cap Rate 7%
$1,043,414
$1.0M
Cap Rate 9%
$811,544
$811.5K
Market Conditions
NOI Build-Up for 5,012 SF
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.
Gross rent
$132.3K $26.40/SF
− Vacancy
−$10.6K −$2.11/SF
EGI
$121.7K $24.29/SF
− OpEx
−$48.7K −$9.72/SF
NOI
$73.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,460,780
Cap Rate 7%
$1,043,414
Cap Rate 9%
$811,544
Alternative Uses
Best Use
Healthcare Medical
$1.04M
$913.0K – $1.22M
NOI $73,039 @ 7.0% cap · market cap 5.84%
Second Best
Office B
$926.8K
$811.0K – $1.08M
NOI $64,879 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,525 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully renovated office space with flexible layout and off-street parking, suited for medical and human services uses.
Where is this office building located?
The property is located at 18445 E Burnside Portland, OR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Fully renovated commercial office space built in 1956; 5,012 SF office building on 0.24 acres; Flexible layout designed for non‑profits, medical offices, and human services
