Freestanding Manufacturing
New
For Sale
$9,100,000
2801 & 2811 NE Riverside Way, Portland, OR 97211
Two separate structures provide extensive electrical capacity, loading facilities, and surface parking.
Property Size66,600 SF
Price / SF$136.64
Days on Market2
Property Features for 2801 & 2811 NE Riverside Way
General Information
Standard status
Active
Size
66,600 SF
Property subtype
Industrial
Zoning
IG2
Building Details
Building Size
66,600 SF
Year Built
1998
Buildings
2
Listing Agency:
Macadam Forbes
Listed By:
Tyler Collins · License #OR #201219113
(503) 416-0088
Source:
Macadamforbes
Added: Sep 26
Last Checked: Sep 26 at 2:29PM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
The property consists of two freestanding industrial buildings constructed in 1998. Extensive power, loading facilities, and surface parking serve the site. The listing identifies manufacturing, light distribution, contractor operations, and high-tech uses as potential applications. IG2 zoning is reported for the property.
Key Highlights
- Two freestanding industrial buildings
- Extensive power supply
- Loading facilities and surface 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
$507,588
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
5.58%
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%
$10,151,760
$10.2M
Cap Rate 7%
$7,251,257
$7.3M
Cap Rate 9%
$5,639,867
$5.6M
Market Conditions
NOI Build-Up for 66,600 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
$639.4K $9.60/SF
− Vacancy
−$42.2K −$0.63/SF
EGI
$597.2K $8.97/SF
− OpEx
−$89.6K −$1.34/SF
NOI
$507.6K $7.62/SF
Area
Portland, OR
Vacancy
6.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$10,151,760
Cap Rate 7%
$7,251,257
Cap Rate 9%
$5,639,867
Alternative Uses
Best Use
Warehouse
$7.25M
$6.34M – $8.46M
NOI $507,588 @ 7.0% cap · market cap 5.58%
Second Best
Industrial
$5.97M
$5.23M – $6.97M
NOI $418,014 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$18.70M
$16.37M – $21.82M
NOI $1,309,205 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Two separate structures provide extensive electrical capacity, loading facilities, and surface parking.
Where is this manufacturing property located?
The property is located at 2801 & 2811 NE Riverside Way Portland, OR.
What is the asking price?
The asking price for this property is $9,100,000.
What are key features of this property?
This property features: Two freestanding industrial buildings; Extensive power supply; Loading facilities and surface parking
