Flex Space with Grade-Level
For Sale
$1,050,000
311 NE SHAVER St, Portland, OR 97212
CommercialSale, Portland, OR
Property Size5,200 SF
Lot Size0.24 Acres
Price / SF$201.92
Days on Market252
Property Features for 311 NE SHAVER St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RHD
Directions
Corner of NE Shaver and NE Garfield Ave
Subdivision
_142
Standard status
Active
APN
R102910
Size
5,200 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
ALBINA HMSTD, BLOCK 2, LOT 9&10
Tax Annual Amount
3812
Legal Description
ALBINA HMSTD, BLOCK 2, LOT 9&10
Amenities
20 ft ceilings
3 large grade level roll up doors
fully fenced and gated parking lot
Building Details
Year built
1912
Floors in Building
1
Building materials
Concrete
Roof type
Built-Up
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Brandon King · License #111384
(831) 421-2292
Added: Dec 17, 2025
Changed: Aug 25
Last Checked: Aug 26 at 3:06AM
MLS# 624543145
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,200-square-foot poured-in-place concrete building offers a practical flex-space configuration for auto repair, light industrial activity, or storage. The structure features 20-foot ceilings and three large grade-level roll-up doors, including two with direct street access. A fully fenced and gated 5,200-square-foot parking lot provides secured outdoor space for vehicles, equipment, or loading activity.
Located at 311 NE SHAVER St in Portland, the property occupies 0.24 acres and carries RHD zoning. Built in 1912, the building has a built-up roof and concrete construction, combining substantial structural materials with functional access for commercial users.
Located at 311 NE SHAVER St in Portland, the property occupies 0.24 acres and carries RHD zoning. Built in 1912, the building has a built-up roof and concrete construction, combining substantial structural materials with functional access for commercial users.
Key Highlights
- 5,200 SF poured‑in‑place concrete building
- 20‑foot ceilings support industrial and storage functions
- Three large grade‑level roll‑up doors
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
$60,606
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
5.77%
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%
$1,212,120
$1.2M
Cap Rate 7%
$865,800
$865.8K
Cap Rate 9%
$673,400
$673.4K
Market Conditions
NOI Build-Up for 5,200 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
$93.6K $18.00/SF
− Vacancy
−$7.0K −$1.35/SF
EGI
$86.6K $16.65/SF
− OpEx
−$26.0K −$5.00/SF
NOI
$60.6K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,212,120
Cap Rate 7%
$865,800
Cap Rate 9%
$673,400
Alternative Uses
Best Use
Retail
$865.8K
$757.6K – $1.01M
NOI $60,606 @ 7.0% cap · market cap 5.77%
Second Best
Flex RnD
$754.4K
$660.1K – $880.2K
NOI $52,809 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,220 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
3
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,563
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete commercial building with high ceilings, multiple roll-up doors, and a fenced parking area for industrial operations.
Where is this flex space located?
The property is located at 311 NE SHAVER St Portland, OR.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 5,200 SF poured‑in‑place concrete building; 20‑foot ceilings support industrial and storage functions; Three large grade‑level roll‑up doors
