Central East Side Warehouse
For Sale
$2,200,000
307 SE Washington St, Portland, OR 97214
Warehouse in Portland's central east side with development opportunity.
Property Size20,000 SF
Days on Market253
Property Features for 307 SE Washington St
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Industrial
Zoning
EX
Building Details
Building Size
20,000 SF
Year Built
1922
Listed By:
Clayton Madey, SIOR · License #OR #201727196
(503) 896-6286
Source:
Macadamforbes
Added: Jan 27
Changed: Oct 1
Last Checked: Oct 5 at 4:50PM
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 Clayton Madey, SIOR
Investment Insights
Based on property information with market context.
This warehouse building, situated in the heart of Portland's central east side, presents an opportunity for an owner-user or investor. The property's "EX" zoning designation suggests a potential development opportunity. It features immediate access to I-5, Hwy 99E, and various retail and restaurant amenities. The building includes two side-by-side grade-level operational roll-up doors and one dock level on the west side. The building has three stories: the basement and first floor share a similar footprint, while the second floor contains small office suites accessible only by stairs. The building is elevator served.
Key Highlights
- Excellent central east side location.
- Immediate access to I‑5, Hwy 99E.
- Flexible "EX" zoning designation offers development opportunity.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,429
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,048,580
$3.0M
Cap Rate 7%
$2,177,557
$2.2M
Cap Rate 9%
$1,693,656
$1.7M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$192.0K $9.60/SF
− Vacancy
−$12.7K −$0.63/SF
EGI
$179.3K $8.97/SF
− OpEx
−$26.9K −$1.34/SF
NOI
$152.4K $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 Rate 5%
$3,048,580
Cap Rate 7%
$2,177,557
Cap Rate 9%
$1,693,656
Alternative Uses
Best Use
Office B
$3.70M
$3.24M – $4.31M
NOI $258,894 @ 7.0% cap · market cap 11.77%
Second Best
Warehouse
$2.18M
$1.91M – $2.54M
NOI $152,429 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$5.62M
$4.91M – $6.55M
NOI $393,155 @ 7.0% cap · market cap 17.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,974
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse in Portland's central east side with development opportunity.
Where is this warehouse located?
The property is located at 307 SE Washington St Portland, OR.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Excellent central east side location.; Immediate access to I‑5, Hwy 99E.; Flexible "EX" zoning designation offers development opportunity.
