Prime Portland Warehouse with
234 SE 12TH Portland, OR 97214
For Sale
$1,200,000
Pending
13,500+ sqft warehouse with retail/wholesale storefront and speakeasy potential.
Property Size13,552 SF
Lot Size0.33 Acres
Days on Market254
Property Features for 234 SE 12TH
General Information
Standard status
Pending
Size
13,552 SF
Lot size
0.33 Acres
Property subtype
Commercial
Building Details
Year Built
1956
Listing Agency:
JOHN L. SCOTT MARKET CENTER
(503) 359-9100
Listed By:
JORDAN MILLER · License #201209749
Source:
Corcoran
Added: Nov 15, 2025
Changed: Jul 6
Last Checked: Jul 26 at 11:41PM
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 JOHN L. SCOTT MARKET CENTER
Investment Insights
Based on property information with market context.
This property offers a unique opportunity to purchase a space that has served wholesale clients since 1918. The property features over 13,500 sqft of space, including a large warehouse area, a retail and wholesale storefront, mezzanines, and workshop areas. It also includes an office, a community or meeting room, and a hallway with a kitchenette. An unfinished attic space presents an opportunity for conversion. The property's large garage doors could facilitate indoor and outdoor seating, potentially creating a dining space that fuses retail and wholesale operations.
Key Highlights
- Historic homebrew shop location (F.H. Steinbart, est. 1918) with established wholesale business.
- Large 13,500+ sqft space suitable for retail/wholesale fusion.
- Opportunity for dining space with indoor/outdoor seating via large garage doors.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.1k | $9.60 |
| − Vacancy | −$8.6k | −$0.63 |
| EGI | $121.5k | $8.97 |
| − OpEx | −$18.2k | −$1.34 |
| NOI | $103.3k | $7.62 |
13,552 SF · lease $9.60/SF/yr · vacancy 6.60% · expense 15.00%
Alternative Uses
Best Use
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,464 @ 7.0% cap · market cap 15.21%
Second Best
Retail
$2.26M
$1.97M – $2.63M
NOI $157,949 @ 7.0% cap · market cap 13.16%
Theoretical Best
Office A
$3.81M
$3.33M – $4.44M
NOI $266,402 @ 7.0% cap · market cap 22.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- knot & fern — 911 SE Salmon St, Portland, OR 97214, United States
- The Angry Florist — 401B NE 28th Ave, Portland, OR 97232
Frequently Asked Questions
What type of property is this?
Storefront property - 13,500+ sqft warehouse with retail/wholesale storefront and speakeasy potential.
Where is this storefront property located?
The property is located at 234 SE 12TH Portland, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Historic homebrew shop location (F.H. Steinbart, est. 1918) with established wholesale business.; Large 13,500+ sqft space suitable for retail/wholesale fusion.; Opportunity for dining space with indoor/outdoor seating via large garage doors.
