Prime Portland Warehouse with
For Sale
$1,200,000
Pending
234 SE 12TH, Portland, OR 97214
13,500+ sqft warehouse with retail/wholesale storefront and speakeasy potential.
Property Size13,552 SF
Lot Size0.33 Acres
Days on Market257
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 29 at 8:53PM
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
Current Use
Location Intelligence
Trade Area within ½ mile
5,185
Businesses Nearby
Under-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 Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.
