Flex Building with Roll-Up
For Sale
$805,000
2315 SE 11th Ave, Portland, OR 97214
Single-story commercial space with industrial finishes, off-street parking, and flexible interior utility.
Property Size2,175 SF
Price / SF$370.11
Days on Market41
Property Features for 2315 SE 11th Ave
General Information
Standard status
Active
Size
2,175 SF
Zoning
EXd
Site & Location
Road Access
Yes
Public Transit
Yes
Warehouse & Industrial
Clear Height
14 ft
Power
200 amps
Three-Phase Power
No
Amenities
kitchenette/bar area
ADA-compliant restroom
monument signage
Building Details
Year Built
1988
Buildings
1
Stories
1
Listing Agency:
RE/MAX Equity Group
(503) 805-2905
Listed By:
Holly Manchester
Source:
Kingdomreal
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 11:50AM
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 RE/MAX Equity Group
Investment Insights
Based on property information with market context.
This 2,175-square-foot, single-story flex property was built in 1988 and offers an open interior with 14-foot ceilings, exposed ductwork, industrial lighting, and reclaimed wood details. The building includes a front office entrance, kitchenette/bar area, ADA-compliant restroom, 3-ton HVAC system, 200-amp single-phase power, and an insulated 10’ x 10’ roll-up door. Off-street parking and allowable monument signage add practical functionality for daily operations and customer access.
The property is located at 2315 SE 11th Ave in Portland, two blocks north of Division Street and along the southern edge of the Central Eastside Business District. SE 11th Ave carries approximately 6,241 vehicles per day, with access by bicycle, public transit, and car. The site borders Ladd’s Addition and the SE Division corridor.
EXd zoning allows high-density commercial, light industrial, institutional, office, and residential uses, with potential applications including manufacturing, production, childcare, schools, food services, retail, and creative workspace. Buyers should complete their own zoning and use due diligence.
The property is located at 2315 SE 11th Ave in Portland, two blocks north of Division Street and along the southern edge of the Central Eastside Business District. SE 11th Ave carries approximately 6,241 vehicles per day, with access by bicycle, public transit, and car. The site borders Ladd’s Addition and the SE Division corridor.
EXd zoning allows high-density commercial, light industrial, institutional, office, and residential uses, with potential applications including manufacturing, production, childcare, schools, food services, retail, and creative workspace. Buyers should complete their own zoning and use due diligence.
Key Highlights
- 2,175 SF single‑story flex building, built in 1988
- 14‑foot ceilings with exposed ductwork and industrial finishes
- Insulated 10’ x 10’ roll‑up door for loading and deliveries
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
$28,155
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
3.50%
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%
$563,100
$563.1K
Cap Rate 7%
$402,214
$402.2K
Cap Rate 9%
$312,833
$312.8K
Market Conditions
NOI Build-Up for 2,175 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
$49.6K $22.80/SF
− Vacancy
−$12.1K −$5.54/SF
EGI
$37.5K $17.26/SF
− OpEx
−$9.4K −$4.31/SF
NOI
$28.2K $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%
$563,100
Cap Rate 7%
$402,214
Cap Rate 9%
$312,833
Alternative Uses
Best Use
Office B
$402.2K
$351.9K – $469.3K
NOI $28,155 @ 7.0% cap · market cap 3.50%
Second Best
Flex RnD
$315.5K
$276.1K – $368.1K
NOI $22,088 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$610.8K
$534.5K – $712.6K
NOI $42,756 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,992
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single-story commercial space with industrial finishes, off-street parking, and flexible interior utility.
Where is this flex space located?
The property is located at 2315 SE 11th Ave Portland, OR.
What is the asking price?
The asking price for this property is $805,000.
What are key features of this property?
This property features: 2,175 SF single‑story flex building, built in 1988; 14‑foot ceilings with exposed ductwork and industrial finishes; Insulated 10’ x 10’ roll‑up door for loading and deliveries
