Flex Building with
For Sale
Contact for pricing
2014 SE 9th Avenue, Portland, OR 97214
Adaptable commercial building with office, temperature-controlled areas, three-phase power, and multiple interior sections.
Property Size13,750 SF
Lot Size0.34 Acres
Price / SF$214.55
Days on Market144
Property Features for 2014 SE 9th Avenue
General Information
Standard status
Active
Size
13,750 SF
Total Parking Spaces
12
Lot size
0.34 Acres
Property subtype
Industrial
Zoning
General Industrial (IG1)
Warehouse & Industrial
Office Build-Out
2,000 SF
Power
400 amps
Three-Phase Power
Yes
Additional Details
Asking Price
$2,950,000
Building Details
Buildings
1
Building Size
13,750 SF
Listing Agency:
Cascade Commercial Real Estate
(503) 705-6380
Listed By:
Todd DeNeffe · License #OR
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Sep 1 at 8:46AM
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 Cascade Commercial Real Estate
Investment Insights
Based on property information with market context.
This flex property includes a 13,750 sf building on 15,000 sf of land, arranged across three connected sections. Approximately 2000 sf is dedicated to office space, including a private office, conference room, and kitchen. Two additional areas—3,000 sf and 2,500 sf—are temperature controlled with heat and air conditioning. The building also contains four bathrooms and 400 amps of 3 Phase power distributed throughout the property.
A new roof was installed last fall and carries a 20-year transferable warranty. The property is located at 2014 SE 9th Ave in Portland’s Central Eastside, with potential for off-street parking and plentiful, easy on-street parking in the area.
A new roof was installed last fall and carries a 20-year transferable warranty. The property is located at 2014 SE 9th Ave in Portland’s Central Eastside, with potential for off-street parking and plentiful, easy on-street parking in the area.
Key Highlights
- 13,750 sf building on 15,000 sf of land
- 2000 sf of office space with private office, large conference room, and kitchen
- Three‑section layout with spaces of 3,000 sf and 2,500 sf
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
$177,990
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
6.03%
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%
$3,559,800
$3.6M
Cap Rate 7%
$2,542,714
$2.5M
Cap Rate 9%
$1,977,667
$2.0M
Market Conditions
NOI Build-Up for 13,750 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
$313.5K $22.80/SF
− Vacancy
−$76.2K −$5.54/SF
EGI
$237.3K $17.26/SF
− OpEx
−$59.3K −$4.31/SF
NOI
$178.0K $12.94/SF
Area
Portland, OR
Vacancy
24.30%
Lease Rate
$22.80 /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%
$3,559,800
Cap Rate 7%
$2,542,714
Cap Rate 9%
$1,977,667
Alternative Uses
Best Use
Office B
$2.54M
$2.22M – $2.97M
NOI $177,990 @ 7.0% cap · market cap 6.03%
Second Best
Flex RnD
$1.99M
$1.75M – $2.33M
NOI $139,640 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$3.86M
$3.38M – $4.50M
NOI $270,294 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,594
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with office, temperature-controlled areas, three-phase power, and multiple interior sections.
Where is this flex space located?
The property is located at 2014 SE 9th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 13,750 sf building on 15,000 sf of land; 2000 sf of office space with private office, large conference room, and kitchen; Three‑section layout with spaces of 3,000 sf and 2,500 sf
