Building Details

Year built 1924

Floors in Building 2

Building materials LapSiding, PartialBasement

Roof type Composition

Listing Agency: Keller Williams Realty Portland Premiere m***@mikehobson.com Show Phone

Listed By: Darryl Bodle Show Phone

Added: Oct 19 Last Checked: Oct 19 at 10:06PM

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MLS# 349099087

Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This office property contains 2,020 gross square feet arranged across three levels on a 0.23-acre parcel. The main floor combines open work area with private rooms, a kitchenette, bathroom, and fireplace. Upper-level space can support additional functions, while the lower level includes utility and storage areas. Paved parking is available on site, and 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. CM1 zoning allows consideration of other business uses or repositioning, subject to City of Portland approvals.

Key Highlights

• 2,020 gross square feet across three levels
• 0.23‑acre corner parcel with 125 feet of frontage on SE 122nd Avenue
• Additional frontage on SE Lincoln Street

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

Is this asking price fair?

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 (±1% cap)

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 (±1% cap)

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

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Current Use

Sos Center Social Service Agency RYAP Association / Organization

Suggested Use

Top Pick Law Firm Parking Lot & Garage HVAC Service Hair Salon Barber Shop Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Office in Portland, OR

10.1% 2019

12.3% 2020

16.1% 2021

18.5% 2022

20.8% 2023

21.7% 2024

24.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - CM1 mixed-use zoning and an on-site paved parking area add flexibility to this Portland property.

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; 0.23‑acre corner parcel with 125 feet of frontage on SE 122nd Avenue; Additional frontage on SE Lincoln Street