Single-Story Mixed-Use
For Sale
Contact for pricing
2705 SE Ankeny St, Portland, OR 97214
Craft brewery and taproom complement a finished office component with open-plan workspace and conference facilities.
Property Size8,400 SF
Price / SF$360.12
Days on Market56
Property Features for 2705 SE Ankeny St
General Information
Standard status
Active
Size
8,400 SF
Property subtype
OFFICE
Listing Agency:
NAI Elliott
(503) 224-6791
Listed By:
Justin Darling
(503) 457-2990
Source:
Moodyscre
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 31 at 6:46PM
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 NAI Elliott
Investment Insights
Based on property information with market context.
This single-story mixed-use property contains 8,400 SF, combining the 1,592 SF Gorges craft brewery and taproom with 6,808 SF of vacant office space. The office component includes an open layout, polished concrete flooring, substantial natural light, a large break area, multiple finished restrooms, and a furnished conference room set up for video conferencing.
The property is located in Ankeny Rainbow Road Plaza near SE 28th and Burnside in Portland. The surrounding corridor includes dining, coffee, boutiques, nightlife, walkable amenities, transit access, and creative and professional businesses. The office area represents 81% of the building, providing a substantial workplace component alongside the brewery and taproom.
The property is located in Ankeny Rainbow Road Plaza near SE 28th and Burnside in Portland. The surrounding corridor includes dining, coffee, boutiques, nightlife, walkable amenities, transit access, and creative and professional businesses. The office area represents 81% of the building, providing a substantial workplace component alongside the brewery and taproom.
Key Highlights
- 8,400 SF single‑story mixed‑use property
- 1,592 SF Gorges craft brewery and taproom
- 6,808 SF vacant office component
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
$113,400
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
3.75%
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%
$2,268,000
$2.3M
Cap Rate 7%
$1,620,000
$1.6M
Cap Rate 9%
$1,260,000
$1.3M
Market Conditions
NOI Build-Up for 8,400 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
$201.6K $24.00/SF
− Vacancy
−$20.2K −$2.40/SF
EGI
$181.4K $21.60/SF
− OpEx
−$68.0K −$8.10/SF
NOI
$113.4K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,268,000
Cap Rate 7%
$1,620,000
Cap Rate 9%
$1,260,000
Alternative Uses
Best Use
Mixed Use
$1.62M
$1.42M – $1.89M
NOI $113,400 @ 7.0% cap · market cap 3.75%
Second Best
Office B
$1.55M
$1.36M – $1.81M
NOI $108,735 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,125 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,802
Businesses Nearby
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 Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Craft brewery and taproom complement a finished office component with open-plan workspace and conference facilities.
Where is this mixed-use property located?
The property is located at 2705 SE Ankeny St Portland, OR.
What is the asking price?
The asking price for this property is $3,025,000.
What are key features of this property?
This property features: 8,400 SF single‑story mixed‑use property; 1,592 SF Gorges craft brewery and taproom; 6,808 SF vacant office component
