Industrial
For Sale
$15,999,000
2340 SE Gladstone St & 4409 SE 24th Ave, Portland, OR 97202
Two Portland addresses define the offering.
Property Size141,719 SF
Days on Market68
Property Features for 2340 SE Gladstone St & 4409 SE 24th Ave
General Information
Standard status
Active
Size
141,719 SF
Property subtype
Industrial
Site & Location
Neighborhood
Irvington Community Association
Building Details
Building Size
141,719 SF
Listed By:
Mike Hale, SIOR
(503) 781-6324
Source:
Buildout
Added: Aug 26
Changed: Aug 29
Last Checked: Nov 1 at 4:01AM
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 Mike Hale, SIOR
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This industrial offering comprises a portfolio associated with two separate properties in Portland, Oregon. The addresses are 2340 SE Gladstone St and 4409 SE 24th Ave, both within ZIP code 97202.
Key Highlights
- Two‑property industrial portfolio
- 2340 SE Gladstone St, Portland, OR 97202
- 4409 SE 24th Ave, Portland, OR 97202
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,435,968
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$28,719,360
$28.7M
Cap Rate 7%
$20,513,829
$20.5M
Cap Rate 9%
$15,955,200
$16.0M
Market Conditions
NOI Build-Up for 141,719 SF
Gross rent
$2.13M $15.00/SF
− Vacancy
−$74.4K −$0.53/SF
EGI
$2.05M $14.48/SF
− OpEx
−$615.4K −$4.34/SF
NOI
$1.44M $10.13/SF
Area
ZIP 97202
Vacancy
3.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$28,719,360
Cap Rate 7%
$20,513,829
Cap Rate 9%
$15,955,200
Alternative Uses
Best Use
Industrial
$20.51M
$17.95M – $23.93M
NOI $1,435,968 @ 7.0% cap · market cap 8.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$33.81M
$29.58M – $39.45M
NOI $2,366,703 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,872
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Frequently Asked Questions
What type of property is this?
Industrial property - Two Portland addresses define the offering.
Where is this industrial property located?
The property is located at 2340 SE Gladstone St & 4409 SE 24th Ave Portland, OR.
What is the asking price?
The asking price for this property is $15,999,000.
What are key features of this property?
This property features: Two‑property industrial portfolio; 2340 SE Gladstone St, Portland, OR 97202; 4409 SE 24th Ave, Portland, OR 97202
