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    Leased FedEx Office Retail Building Title is generated by Realmo AI

    221 SW Alder St, Portland, OR 97204

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    Long-term FedEx Office tenant with dedicated parking supports a straightforward, low landlord-responsibility investment.

    Type:Retail
    Property size:
    11,600 SF
    Price / SF:
    $366/SF
    Added:
    May 27, 2026
    Days on Market:
    13
    Last Refresh:
    Jun 6 at 4:04 am

    Property Features for 221 SW Alder St

    General Information

    Standard status
    Active
    Size
    11,600 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    Ashley Heichelbech

    Listing agent Ashley Heichelbech License #OR 200509097

    Listing office Commercial Realty Advisors Northwest LLC

    Listing date May 27, 2026

    Source Crexi

    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 Commercial Realty Advisors Northwest LLC

    HighLights

    • 1956 building with long‑term FedEx Office tenant in place for over 30 years
    • Long‑term, credit‑rated tenant supports stable cash flow
    • Existing lease has minimal landlord responsibilities
    • Dedicated parking available at Alder St and 2nd Ave
    • Gateway location to Portland’s central business district with access via Morrison Bridge to East Portland
    • Tenant‑occupied investment with upside potential for future redevelopment

    Overview

    This retail storefront property has been occupied by FedEx Office for more than 30 years. The site is leased to a long-term, credit-rated tenant, and the existing lease is described as having minimal landlord responsibilities, supporting an operationally simple ownership structure.

    The property is positioned at the gateway to Portland’s central business district. Dedicated parking is available at Alder St and 2nd Ave, and the location is described as providing convenient access to both residential neighborhoods and the city’s cultural core, surrounded by office towers and hotels. The site also has direct access to East Portland via the Morrison Bridge.

    For buyers or investors seeking leased retail exposure with a long-standing tenant, the current FedEx Office occupancy and minimal landlord responsibilities are the primary considerations. The offering also notes the possibility of future redevelopment, providing an additional consideration for operators evaluating long-term site strategy while maintaining income from the existing lease.
    Location Intelligence

    Current Use by Public Records

    FedEx Office Print ... Courier Service FedEx Drop Box Postal Service Rush My Passport Travel Agency SALVAGEDATA Recovery Services Computer & Electronic Repair BHS221 Restaurant

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Restaurant Daycare Center Building Supply Kitchen & Bath Showroom Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Petros Same Day Flower Delivery Inc. — 817 SW 5th Ave, Portland, OR 97204
    • Geranium Lake Flowers — 555 SW Oak St, Portland, OR 97204
    • Gifford's Flowers — 704 SW Jefferson St, Portland, OR 97201
    • Flower Temple Designs — 111 SW Columbia St # 3, Portland, OR 97201
    • Just Flowers — 510 SW 3rd Ave #200, Portland, OR 97204

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.663082
    Latitude
    45.5177285

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    FAQs

    What type of property is this?
    Storefront property - Long-term FedEx Office tenant with dedicated parking supports a straightforward, low landlord-responsibility investment.
    Where is this storefront property located?
    The property is located at 221 SW Alder St Portland, OR.
    What is the asking price?
    The asking price for this property is $4,250,000.
    What are key features of this property?
    This property features: 1956 building with long‑term FedEx Office tenant in place for over 30 years; Long‑term, credit‑rated tenant supports stable cash flow; Existing lease has minimal landlord responsibilities
    (503) 274-0211 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ashley Heichelbech
    Real Estate License ID: OR 200509097
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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