Two-Level Office Flex
2407 SE 10th Ave., Portland, OR 97214
For Sale
Contact for pricing
Concrete construction pairs adaptable office space with a dedicated warehouse area and loading access.
Property Size6,765 SF
Price / SF$354.77
Days on Market113
Property Features for 2407 SE 10th Ave.
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Lease Type
Site & Location
Neighborhood
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Cascade Commercial Real Estate
Listed By:
Todd DeNeffe
(503) 705-6380
Source:
Crexi
Added: Jul 25
Changed: Nov 10
Last Checked: Nov 12 at 7:14AM
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 Cascade Commercial Real Estate
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 6,765-square-foot flex building uses concrete tilt-up construction and is configured for office and warehouse functions. The office component spans 5,765 square feet across two levels, with generously sized rooms and an open arrangement. A separate 1,000-square-foot warehouse area provides an 18-foot ceiling, 3-phase power, and a large loading door. General Industrial (IG1) zoning supports the property’s industrial classification.
The property sits two blocks north of SE Division in Portland’s Central Eastside. Its setting provides access to freeways, bridges, downtown, nearby eastside residential areas including Ladd’s Addition, and surrounding retail amenities. Off-street parking is available, supplemented by plentiful on-street parking.
The layout can accommodate professional service, engineering, technology, design, architecture, audio/visual, research and development, or nonprofit operations, as identified in the property information.
The property sits two blocks north of SE Division in Portland’s Central Eastside. Its setting provides access to freeways, bridges, downtown, nearby eastside residential areas including Ladd’s Addition, and surrounding retail amenities. Off-street parking is available, supplemented by plentiful on-street parking.
The layout can accommodate professional service, engineering, technology, design, architecture, audio/visual, research and development, or nonprofit operations, as identified in the property information.
Key Highlights
- 6,765 SF concrete tilt‑up flex building
- 5,765 SF of office space across two levels
- 1,000 SF warehouse with an 18‑foot ceiling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,571
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,751,420
$1.8M
Cap Rate 7%
$1,251,014
$1.3M
Cap Rate 9%
$973,011
$973.0K
Market Conditions
NOI Build-Up for 6,765 SF
Gross rent
$154.2K $22.80/SF
− Vacancy
−$37.5K −$5.54/SF
EGI
$116.8K $17.26/SF
− OpEx
−$29.2K −$4.31/SF
NOI
$87.6K $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 Rate 5%
$1,751,420
Cap Rate 7%
$1,251,014
Cap Rate 9%
$973,011
Alternative Uses
Best Use
Office B
$1.25M
$1.09M – $1.46M
NOI $87,571 @ 7.0% cap · market cap 3.65%
Second Best
Flex RnD
$981.5K
$858.8K – $1.15M
NOI $68,703 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $132,985 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,864
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
$733,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Portland, OR
Properties on Market for Flex space in Portland
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete construction pairs adaptable office space with a dedicated warehouse area and loading access.
Where is this flex space located?
The property is located at 2407 SE 10th Ave. Portland, OR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 6,765 SF concrete tilt‑up flex building; 5,765 SF of office space across two levels; 1,000 SF warehouse with an 18‑foot ceiling
