Remodeled Office
New
For Sale
$849,999
2010 SE 182ND, Portland, OR 97233
Updated commercial space with on-site parking, replacement HVAC, and a water heater added during the 2021 renovation.
Property Size4,126 SF
Price / SF$206.01
Days on Market3
Property Features for 2010 SE 182ND
General Information
Standard status
Active
Size
4,126 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,070
Amenities
Central air
Central Air Cooling
Forced Air Heating
On Site
Shingle Roof
Building Details
Year Built
1955
Year Renovated
2021
Listing Agency:
REALTY ONE GROUP PACIFICA
(971) 808-8814
Listed By:
SANDEEP SAGAR
Source:
Corcoran
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 14 at 8:26AM
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 REALTY ONE GROUP PACIFICA
Investment Insights
Based on property information with market context.
This 4,126-square-foot office building combines a 1955 structure with a comprehensive 2021 remodel. Improvements include new HVAC equipment and a replacement water heater, while the property provides 16 or more on-site parking spaces. Moderate commercial zoning supports its office-oriented commercial profile.
Located at 2010 SE 182ND in Portland, the property sits two blocks from Division Street. First Health borders one side, with Rockwood Community Center on the other. A TriMet bus stop at the entrance adds direct transit access for occupants and visitors.
Located at 2010 SE 182ND in Portland, the property sits two blocks from Division Street. First Health borders one side, with Rockwood Community Center on the other. A TriMet bus stop at the entrance adds direct transit access for occupants and visitors.
Key Highlights
- 4,126‑square‑foot office building
- Completely remodeled in 2021
- New HVAC and water heater
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
$60,127
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
7.07%
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%
$1,202,540
$1.2M
Cap Rate 7%
$858,957
$859.0K
Cap Rate 9%
$668,078
$668.1K
Market Conditions
NOI Build-Up for 4,126 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
$108.9K $26.40/SF
− Vacancy
−$8.7K −$2.11/SF
EGI
$100.2K $24.29/SF
− OpEx
−$40.1K −$9.72/SF
NOI
$60.1K $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%
$1,202,540
Cap Rate 7%
$858,957
Cap Rate 9%
$668,078
Alternative Uses
Best Use
Healthcare Medical
$859.0K
$751.6K – $1.00M
NOI $60,127 @ 7.0% cap · market cap 7.07%
Second Best
Office B
$763.0K
$667.6K – $890.2K
NOI $53,410 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,108 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
475
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 - Updated commercial space with on-site parking, replacement HVAC, and a water heater added during the 2021 renovation.
Where is this office building located?
The property is located at 2010 SE 182ND Portland, OR.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 4,126‑square‑foot office building; Completely remodeled in 2021; New HVAC and water heater
