Owner-User Creative
For Sale
Contact for pricing
2544 NW Upshur St, Portland, OR 97210
Creative office property with on-site parking, offered for sale as an owner-user opportunity.
Property Size7,626 SF
Price / SF$262.26
Days on Market140
Property Features for 2544 NW Upshur St
General Information
Standard status
Active
Size
7,626 SF
Property subtype
Office
Zoning
CM
Occupancy
16%
Investment Type
Owner/User
Building Details
Year Built
1956
Year Renovated
2012
Units
3
Listing Agency:
Kidder Mathews Portland
Listed By:
Lance Sasser · License #201209212
Source:
Crexi
Added: Apr 22
Changed: Sep 7
Last Checked: Sep 6 at 11:56PM
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 Kidder Mathews Portland
Investment Insights
Based on property information with market context.
This owner-user creative office property is offered for sale in Portland. The building is positioned to support creative office use and includes on-site parking for staff and visitors.
The property is located at 2544 NW Upshur St. The listing notes rare on-site parking, which can be a practical advantage for day-to-day operations.
For buyers looking for an office space they can occupy, this is a straightforward option with a creative-office orientation and parking on site.
The property is located at 2544 NW Upshur St. The listing notes rare on-site parking, which can be a practical advantage for day-to-day operations.
For buyers looking for an office space they can occupy, this is a straightforward option with a creative-office orientation and parking on site.
Key Highlights
- Owner‑user creative office property in NW Portland
- Year built: 1956
- Rare on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,716
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,974,320
$2.0M
Cap Rate 7%
$1,410,229
$1.4M
Cap Rate 9%
$1,096,844
$1.1M
Market Conditions
NOI Build-Up for 7,626 SF
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.
Gross rent
$173.9K $22.80/SF
− Vacancy
−$42.3K −$5.54/SF
EGI
$131.6K $17.26/SF
− OpEx
−$32.9K −$4.31/SF
NOI
$98.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,974,320
Cap Rate 7%
$1,410,229
Cap Rate 9%
$1,096,844
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.65M
NOI $98,716 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,910 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 97210, OR
13,016
Population
7,910
Households
1.6
Avg Household Size
38
Median Age
76%
College-Educated
97%
High-School Grad
8.9 sq mi
ZIP Area
1,462
Density / Sq Mi
$87,942
Median Household Income
$66,429
Median Earnings
$1,577
Median Rent
$991,500
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Creative office property with on-site parking, offered for sale as an owner-user opportunity.
Where is this creative space located?
The property is located at 2544 NW Upshur St Portland, OR.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Owner‑user creative office property in NW Portland; Year built: 1956; Rare on‑site parking
