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    2319 NE Glisan St Portland, OR 97232

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    CM3-zoned industrial property with flexible space in prime Portland location.

    Property size:
    3,894 SF
    Lot size:
    0.11 Acres

    Property Features for 2319 NE Glisan St

    General Information

    Standard status
    Active
    Zoning
    CM3 (Commercial Mixed Use)
    Size
    3,894 SF
    Lot size
    0.11 Acres

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    Listing Contact
    Cameron Schwab
    Cameron Schwab
    Source: Crexi

    Listing Agency: KW Commercial Portland Premiere Listing Agent: Cameron Schwab

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Industrial Property Near Sandy Boulevard

    This versatile CM3-zoned industrial property offers approximately 3,894 square feet of well-configured building space on a 5,000 square foot parcel. It is located in a prime Portland location just off Sandy Boulevard. Constructed of durable masonry with a flat roof, the building is designed to support a wide range of commercial and production uses. The space features roll-up door access directly from the frontage and five on-site parking stalls. A floor drain runs through the building, making it ideal for light manufacturing, production, or creative uses. The layout includes a dedicated front office area, ample electrical capacity throughout the space and ceiling, and a ceiling grid system already installed for production equipment or lighting. A centrally located skylight provides natural light. Additional improvements include two heat pumps for efficient climate control, two single-fixture restrooms, and a small personal kitchen area conveniently located adjacent to the bathrooms. With highly flexible CM3 zoning and an exceptional location in close proximity to major transportation corridors, this property presents an opportunity for owner-users or investors seeking adaptable space in one of Portland’s dynamic submarkets.
    Location Intelligence

    Current Use by Public Records

    Floating Word Press Publishing House Lions Den Talent ... Employment Agency Hip Hemp (Bike/Boat/Book/etc) Store Dermal Source Industrial Manufacturer SERVICE Studio PDX Hotel & Motel

    Suggested Use

    Law Firm Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6420102
    Latitude
    45.5267199

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    FAQs

    What type of property is this?
    Mixed-use property - CM3-zoned industrial property with flexible space in prime Portland location.
    Where is this mixed-use property located?
    The property is located at 2319 NE Glisan St Portland, OR.
    What are key features of this property?
    This property features: - Prime Portland location off Sandy Boulevard with easy access to major transportation corridors.; - Flexible CM3 zoning allows for a wide range of commercial, production, or creative uses.; - Approximately 3,894 SF of well-configured building space with roll-up door access and five on-site parking stalls.
    (503) 597-2444
    Request Owner's contact information
    2319 NE Glisan St Portland, OR 97232
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    Portland, OR 97232
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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.

    More about this property
    2319 NE Glisan St Portland, OR 97232
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    We can help!
    Listing Contact
    Cameron Schwab
    Cameron Schwab
    Real Estate License ID: 201220872
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