Creative Industrial Flex
For Sale
$3,450,000
2105 SE 7th Avenue, Portland, OR 97214
Three-unit creative industrial property with dock and grade-level loading, HVAC, and dedicated tenant parking.
Property Size17,167 SF
Price / SF$200.97
Days on Market100
Property Features for 2105 SE 7th Avenue
General Information
Standard status
Active
Size
17,167 SF
Property subtype
Industrial
Zoning
General Industrial, IG-1
Occupancy
42%
Building Details
Building Size
17,167 SF
Year Built
1946
Tenancy
Multi
Listing Agency:
Macadam Forbes
Listed By:
Rod Brokenshire · License #OR #860500161
(503) 972-7281
Source:
Macadamforbes
Added: Jun 2
Changed: Sep 4
Last Checked: Sep 9 at 6:56AM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
This multi-tenant creative industrial flex property is arranged as three distinct units, giving occupiers flexibility in how they use and configure space. The renovated building totals 17,167 square feet and sits on a 30,000 square foot lot. HVAC is provided throughout, and the loading setup includes both dock and grade-level access to support a range of business operations. Dedicated off-street parking is set up for each tenant, helping keep day-to-day access straightforward.
Located in Portland’s Central Eastside, the site is positioned for convenient access to the surrounding industrial area. The property offers dock and grade-level loading and is described as easily accessible, supporting both immediate operational needs and owner-user use. Currently, 42% of the building is occupied, with 7,140 square feet leased and the remaining spaces available for immediate occupancy.
With multiple units and modernized building systems, this is a strong fit for owner/users looking to move into an operating-ready facility while maintaining the option to lease remaining space. Tenants seeking creative-industrial flexibility can also benefit from the combination of HVAC, loading flexibility, and dedicated parking, all within a prime industrial zone.
Located in Portland’s Central Eastside, the site is positioned for convenient access to the surrounding industrial area. The property offers dock and grade-level loading and is described as easily accessible, supporting both immediate operational needs and owner-user use. Currently, 42% of the building is occupied, with 7,140 square feet leased and the remaining spaces available for immediate occupancy.
With multiple units and modernized building systems, this is a strong fit for owner/users looking to move into an operating-ready facility while maintaining the option to lease remaining space. Tenants seeking creative-industrial flexibility can also benefit from the combination of HVAC, loading flexibility, and dedicated parking, all within a prime industrial zone.
Key Highlights
- Three‑unit creative industrial property totaling 17,167 SF on a 30,000 SF lot in Portland’s Central Eastside
- Dock and grade‑level loading available to support multiple tenant setups
- HVAC throughout the renovated building
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
$174,341
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
5.05%
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%
$3,486,820
$3.5M
Cap Rate 7%
$2,490,586
$2.5M
Cap Rate 9%
$1,937,122
$1.9M
Market Conditions
NOI Build-Up for 17,167 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
$288.4K $16.80/SF
− Vacancy
−$20.2K −$1.18/SF
EGI
$268.2K $15.62/SF
− OpEx
−$93.9K −$5.47/SF
NOI
$174.3K $10.16/SF
Area
Portland, OR
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$3,486,820
Cap Rate 7%
$2,490,586
Cap Rate 9%
$1,937,122
Alternative Uses
Best Use
Flex RnD
$2.49M
$2.18M – $2.91M
NOI $174,341 @ 7.0% cap · market cap 5.05%
Second Best
Industrial
$1.54M
$1.35M – $1.80M
NOI $107,748 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$4.82M
$4.22M – $5.62M
NOI $337,464 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
42%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,190
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Portland, OR
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Frequently Asked Questions
What type of property is this?
Flex space - Three-unit creative industrial property with dock and grade-level loading, HVAC, and dedicated tenant parking.
Where is this flex space located?
The property is located at 2105 SE 7th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Three‑unit creative industrial property totaling 17,167 SF on a 30,000 SF lot in Portland’s Central Eastside; Dock and grade‑level loading available to support multiple tenant setups; HVAC throughout the renovated building
