Northwest Portland Live-Work
2419 NW THURMAN, Portland, OR 97210
San Franciscan-style townhouse with commercial space in Northwest Portland.
Type:Commercial
Property size:
3,033 SFPrice / SF:
$387/SF- Added:
- Mar 28, 2026
- Days on Market:
- 49
- Last Refresh:
- Mar 28 at 8:09 pm
Property Features for 2419 NW THURMAN
General Information
- Standard status
- Active
- Size
- 3,033 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2003
Listing agent DANA MCKILLOP
Listing office WINDERMERE REALTY TRUST (503) 233-7777
Listing date Mar 28, 2026
Source Corcoran
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 WINDERMERE REALTY TRUST
HighLights
- Prime live‑work property in Northwest Portland, featuring 967 sq ft of commercially zoned office space with separate entrance, bathroom, and kitchenette.
- Rare two‑car, side‑by‑side garage with private driveway access.
- Desirable location near Slabtown and NW 23rd Avenue's restaurants, cafes, and shops, and close to Forest Park.
- Three levels of living space with open layout, high ceilings, and abundant natural light.
- Chef's kitchen featuring maple shaker cabinetry, stainless steel appliances, island, and peninsula with eating bar.
- Two en‑suite bedrooms on the third floor, including a primary suite with walk‑in closet, tiled bathroom, and private balcony.
Overview
This San Franciscan-style townhouse, located in pedestrian-friendly Northwest Portland, is zoned for commercial mixed use. It features a 967 square foot office space with a separate interior and exterior entrance, bathroom, and kitchenette. The property includes three levels of living space. The main floor features an open layout with high ceilings, warm colors, wood tones, floor-to-ceiling Pella windows and doors (most with motorized blinds), maple wood floors, and wrought-iron accents. The living area, with a balcony patio and gas fireplace, flows into the dining area and an expansive chef's kitchen with maple shaker cabinetry, ample storage, stainless appliances, a kitchen island, and a peninsula with an eating bar. The great room features a bank of windows and a full-lite door to a balcony. A powder room is located off this space. The third floor features vaulted ceilings and two en-suites, including the primary with a balcony and full-lite door, walk-in closet, and spacious, tiled bathroom. A bonus space/office, sitting room, and/or library sits between these two areas, along with a washer/dryer concealed in a closet. The ground level connects via entry and a wrought-iron circular staircase from the main floor, leading to a side-by-side two-car garage accessed off of 23rd Place via a private driveway shared by the townhouses behind the property. Additional features include a tiled entry, two furnaces, copper gutters, and three balconies. The property is near Slabtown and steps from 23rd Avenue with eateries, pubs, cafes, and shops, and blocks from Forest Park. The property is suitable for live-work use.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$455.0K
NOI $40,946 @ 9.00% cap · cautious / downside scenario
Moderate
$584.9K
NOI $40,946 @ 7.00% cap · market / base-case scenario
Aggressive
$818.9K
NOI $40,946 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.8k | $24.00 |
| − Vacancy | −$7.3k | −$2.40 |
| EGI | $65.5k | $21.60 |
| − OpEx | −$24.6k | −$8.10 |
| NOI | $40.9k | $13.50 |
3,033 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$584.9K
$511.8K – $682.4K
NOI $40,946 @ 7.0% cap · market cap 3.48%
Second Best
Office B
$560.9K
$490.8K – $654.4K
NOI $39,261 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$851.7K
$745.3K – $993.7K
NOI $59,622 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Live-work space
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.7013001
- Latitude
- 45.5356657
Nearby Similar for Sale
FAQs
What type of property is this?
Live-work space - San Franciscan-style townhouse with commercial space in Northwest Portland.
Where is this live-work space located?
The property is located at 2419 NW THURMAN Portland, OR.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Prime live‑work property in Northwest Portland, featuring 967 sq ft of commercially zoned office space with separate entrance, bathroom, and kitchenette.; Rare two‑car, side‑by‑side garage with private driveway access.; Desirable location near Slabtown and NW 23rd Avenue's restaurants, cafes, and shops, and close to Forest Park.
