Freestanding Industrial Flex
For Sale
$805,000
2315 SE 11TH Ave, Portland, OR 97214
CommercialSale, Portland, OR
Property Size2,175 SF
Lot Size0.07 Acres
Price / SF$370.11
Days on Market157
Property Features for 2315 SE 11TH Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
EX
Directions
Between Sherman & Caruthers
Subdivision
_143
Standard status
Active
APN
R276062
Size
2,175 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
STEPHENS ADD, BLOCK 112, S 30' OF LOT 7
Tax Annual Amount
4421
Legal Description
STEPHENS ADD, BLOCK 112, S 30' OF LOT 7
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1988
Floors in Building
1
Building materials
WoodSiding
Roof type
Flat
Listing Agency:
RE/MAX Equity Group · RE/MAX International
(503) 635-2660
Listed By:
Holly Manchester
(503) 805-2905
Added: Mar 27
Changed: Jul 25
Last Checked: Aug 30 at 4:06AM
MLS# 784351906
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.
Investment Insights
Based on property information with market context.
This freestanding, single-story flex property contains 2,175 square feet on a 0.07-acre lot. The interior is arranged around an open floor plan with 14-foot ceilings, exposed ductwork, industrial-style finishes, reclaimed wood elements, distinctive lighting, and a kitchenette with bar finishes. A front office entry, ADA-compliant restroom, 3-ton HVAC system, and insulated roll-up door support a range of commercial operations.
The building is located at 2315 SE 11th Ave in Portland, two blocks north of Division Street and near the southern edge of the Central Eastside Business District. The property sits near Ladd's Addition and the SE Division corridor, with access by bicycle, public transit, and car. SE 11th Ave carries approximately 6,241 vehicles per day. Off-street parking, monument signage, 200-amp single-phase power, and a 10' x 10' roll-up door add practical functionality for occupants and deliveries.
The building is located at 2315 SE 11th Ave in Portland, two blocks north of Division Street and near the southern edge of the Central Eastside Business District. The property sits near Ladd's Addition and the SE Division corridor, with access by bicycle, public transit, and car. SE 11th Ave carries approximately 6,241 vehicles per day. Off-street parking, monument signage, 200-amp single-phase power, and a 10' x 10' roll-up door add practical functionality for occupants and deliveries.
Key Highlights
- 2,175 square feet on a 0.07‑acre lot at 2315 SE 11th Ave
- Open floor plan with 14‑foot ceilings and exposed ductwork
- 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
1
Drive-in doors
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 layout includes loading access, off-street parking, and an ADA-compliant restroom.
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 square feet on a 0.07‑acre lot at 2315 SE 11th Ave; Open floor plan with 14‑foot ceilings and exposed ductwork; Insulated 10' x 10' roll‑up door for loading and deliveries
