Ground-Floor Live-Work
For Sale
$405,000
2809 NE M L King Blvd Unit 2, Portland, OR 97212
Adaptable commercial condominium with separate access points and an open interior suited to office, retail, studio, or creative use.
Property Size1,137 SF
Price / SF$356.20
Days on Market53
Property Features for 2809 NE M L King Blvd Unit 2
General Information
Standard status
Active
Size
1,137 SF
Additional Details
Floor
Ground Floor
Building Details
Year Built
2008
Listing Agency:
eXp Realty, LLC
Listed By:
Max Breslau
(503) 939-8231
Source:
Foxrealestategroups
Added: Aug 24
Changed: Sep 17
Last Checked: Oct 5 at 11:50PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,137-square-foot ground-floor commercial condominium was built in 2008 and offers a flexible layout for live-work, office, retail, studio, or creative applications. Polished concrete flooring, high ceilings, and an open interior provide a distinctive foundation for a range of business or personal workspace configurations.
The property includes two separate entrances and dual addresses, creating the option for distinct access areas or future division into independent spaces. Located at 2809 NE M L King Blvd Unit 2 in Portland, the condominium has a street-facing presence and direct ground-level accessibility for customers, clients, or occupants.
The property includes two separate entrances and dual addresses, creating the option for distinct access areas or future division into independent spaces. Located at 2809 NE M L King Blvd Unit 2 in Portland, the condominium has a street-facing presence and direct ground-level accessibility for customers, clients, or occupants.
Key Highlights
- 1,137‑square‑foot ground‑floor commercial condominium
- Two separate entrances and dual addresses
- Open layout with polished concrete floors and high ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,350
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,000
$307.0K
Cap Rate 7%
$219,286
$219.3K
Cap Rate 9%
$170,556
$170.6K
Market Conditions
NOI Build-Up for 1,137 SF
Gross rent
$27.3K $24.00/SF
− Vacancy
−$2.7K −$2.40/SF
EGI
$24.6K $21.60/SF
− OpEx
−$9.2K −$8.10/SF
NOI
$15.3K $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 Rate 5%
$307,000
Cap Rate 7%
$219,286
Cap Rate 9%
$170,556
Alternative Uses
Best Use
Mixed Use
$219.3K
$191.9K – $255.8K
NOI $15,350 @ 7.0% cap · market cap 3.79%
Second Best
Office B
$210.3K
$184.0K – $245.3K
NOI $14,718 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$319.3K
$279.4K – $372.5K
NOI $22,351 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Live-work space - Adaptable commercial condominium with separate access points and an open interior suited to office, retail, studio, or creative use.
Where is this live-work space located?
The property is located at 2809 NE M L King Blvd Unit 2 Portland, OR.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: 1,137‑square‑foot ground‑floor commercial condominium; Two separate entrances and dual addresses; Open layout with polished concrete floors and high ceilings
