Portland Office/Industrial Space For
For Sale
$500,000
1915 SE Pershing St., Portland, OR 97202
Office/Industrial space in Brooklyn neighborhood, ideal for small business.
Property Size1,203 SF
Days on Market296
Property Features for 1915 SE Pershing St.
General Information
Standard status
Active
Size
1,203 SF
Class
C
Property subtype
Office
Building Details
Building Size
1,203 SF
Year Built
1950
Listing Agency:
Capacity Commercial Group
Listed By:
Laura Gentry, CPM
(503) 572-8134
Source:
Capacitycommercial
Added: Nov 25, 2025
Changed: Sep 4
Last Checked: Sep 16 at 7:17PM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
Located in the Brooklyn neighborhood of Portland, this property offers 1,203 square feet of available space on a 5,000-square-foot lot. The layout includes four offices and two restrooms. Zoned General Industrial (IG1), the property is suitable for office or industrial use. It is available immediately and could be ideal for a physical therapist, naturopath, or small business. Nearby parks include Powell City Park, Brooklyn School Park, and Brooklyn City Park. The location is an eight-minute walk from the MAX Orange Line at the SE 17th Ave & Rhine St MAX Station stop and provides convenient access to Hwy 99 and I-5 via SE Powell Blvd.
Key Highlights
- Convenient Location: Easy access to MAX Orange Line, Hwy 99, and I‑5.
- Versatile Use: Suitable for office or industrial purposes. Ideal for physical therapists, naturopaths, or small businesses.
- Immediate Availability: Property is available for immediate occupancy.
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
$16,689
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
3.34%
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%
$333,780
$333.8K
Cap Rate 7%
$238,414
$238.4K
Cap Rate 9%
$185,433
$185.4K
Market Conditions
NOI Build-Up for 1,203 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
$30.3K $25.20/SF
− Vacancy
−$8.1K −$6.70/SF
EGI
$22.3K $18.50/SF
− OpEx
−$5.6K −$4.62/SF
NOI
$16.7K $13.87/SF
Area
ZIP 97202
Vacancy
26.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
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%
$333,780
Cap Rate 7%
$238,414
Cap Rate 9%
$185,433
Alternative Uses
Best Use
Office B
$238.4K
$208.6K – $278.2K
NOI $16,689 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.0K
$251.1K – $334.8K
NOI $20,090 @ 7.0% cap · market cap 4.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,944
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Office units - Office/Industrial space in Brooklyn neighborhood, ideal for small business.
Where is this office units located?
The property is located at 1915 SE Pershing St. Portland, OR.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Convenient Location: Easy access to MAX Orange Line, Hwy 99, and I‑5.; Versatile Use: Suitable for office or industrial purposes. Ideal for physical therapists, naturopaths, or small businesses.; Immediate Availability: Property is available for immediate occupancy.
