Three-Level Office
New
For Sale
$499,900
2057 SE 122nd AVE, Portland, OR 97233
CM1 mixed-use zoning allows exploration of alternative business uses, subject to City of Portland approvals.
Property Size2,020 SF
Lot Size0.23 Acres
Price / SF$247.48
Days on Market5
Property Features for 2057 SE 122nd AVE
General Information
Standard status
Active
Size
2,020 SF
Lot size
0.23 Acres
Property subtype
Office
Zoning
CM1
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,678
Building Details
Building Size
2,020 SF
Year Built
1924
Buildings
1
Stories
3
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Eleeterealestate
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:24AM
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 Keller Williams Realty Portland Premiere
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Investment Insights
Based on property information with market context.
This three-level office property contains 2,020 gross square feet on a 0.23-acre parcel. The main floor combines open work areas with private rooms, a kitchenette, bathroom and fireplace. Flexible space occupies the upper level, while utility and storage areas are located below. Paved on-site parking serves the property, which was built in 1924.
The corner parcel has 125 feet of frontage on SE 122nd Avenue and additional frontage on SE Lincoln Street. SE Stark Street, SE Division Street and I-205 provide nearby access routes. CM1 mixed-use zoning supports consideration of other business uses or future repositioning, subject to City of Portland approvals. Possession is available at closing.
The corner parcel has 125 feet of frontage on SE 122nd Avenue and additional frontage on SE Lincoln Street. SE Stark Street, SE Division Street and I-205 provide nearby access routes. CM1 mixed-use zoning supports consideration of other business uses or future repositioning, subject to City of Portland approvals. Possession is available at closing.
Key Highlights
- 2,020 gross square feet across three levels on a 0.23‑acre parcel
- 125 feet of frontage on SE 122nd Avenue, plus frontage on SE Lincoln Street
- Main level includes open work areas, private rooms, kitchenette, bathroom and fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,148
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,960
$523.0K
Cap Rate 7%
$373,543
$373.5K
Cap Rate 9%
$290,533
$290.5K
Market Conditions
NOI Build-Up for 2,020 SF
Gross rent
$46.1K $22.80/SF
− Vacancy
−$11.2K −$5.54/SF
EGI
$34.9K $17.26/SF
− OpEx
−$8.7K −$4.31/SF
NOI
$26.1K $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 Rate 5%
$522,960
Cap Rate 7%
$373,543
Cap Rate 9%
$290,533
Alternative Uses
Best Use
Office B
$373.5K
$326.9K – $435.8K
NOI $26,148 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$567.3K
$496.4K – $661.8K
NOI $39,709 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
749
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office building - CM1 mixed-use zoning allows exploration of alternative business uses, subject to City of Portland approvals.
Where is this office building located?
The property is located at 2057 SE 122nd AVE Portland, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,020 gross square feet across three levels on a 0.23‑acre parcel; 125 feet of frontage on SE 122nd Avenue, plus frontage on SE Lincoln Street; Main level includes open work areas, private rooms, kitchenette, bathroom and fireplace
