Historic Multi-Level Office
For Sale
$445,000
317 Northeast Sacramento Street, Portland, OR 97212
Multi-level office building on a compact urban lot, built in 1904 and renovated for office use in 2023.
Property Size2,190 SF
Lot Size0.08 Acres
Price / SF$197.25
Days on Market185
Property Features for 317 Northeast Sacramento Street
General Information
Standard status
Active
Size
2,190 SF
Lot size
0.08 Acres
Property subtype
OFC, OFC-RET, MU
Zoning
CM3 (Commercial Mixed-Use 3)
Building Details
Building Size
2,190 SF
Year Built
1904
Year Renovated
2023
Listing Agency:
Keller WIlliams Realty Portland Premiere
(503) 597-2444
Listed By:
Cameron Schwab · License #201220872, Oregon
(503) 442-4257
Source:
Realnex
Added: Apr 22
Changed: Aug 14
Last Checked: Oct 20 at 5:04PM
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 Keller WIlliams Realty Portland Premiere
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Investment Insights
Based on property information with market context.
317 NE Sacramento St is a historic, multi-level office building originally constructed in 1904 and renovated for office use in 2023. The property is currently configured as a boutique office converted from residential use, offering a functional layout suited to immediate occupancy.
The building is located in Portland’s NE Close-In submarket, just off NE Martin Luther King Jr. Blvd, within a surrounding area characterized by dense residential population and active commercial corridors with strong transit accessibility.
Zoned CM3, the site is positioned for commercial and mixed-use applications consistent with Portland’s urban infill development environment.
The building is located in Portland’s NE Close-In submarket, just off NE Martin Luther King Jr. Blvd, within a surrounding area characterized by dense residential population and active commercial corridors with strong transit accessibility.
Zoned CM3, the site is positioned for commercial and mixed-use applications consistent with Portland’s urban infill development environment.
Key Highlights
- 1904‑built, multi‑level office building with historic character and modern office usability
- Recently renovated for office use in 2023
- Approx. 2,190–2,256 SF configured as a boutique office converted from residential use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,203
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,060
$584.1K
Cap Rate 7%
$417,186
$417.2K
Cap Rate 9%
$324,478
$324.5K
Market Conditions
NOI Build-Up for 2,256 SF
Gross rent
$51.4K $22.80/SF
− Vacancy
−$12.5K −$5.54/SF
EGI
$38.9K $17.26/SF
− OpEx
−$9.7K −$4.31/SF
NOI
$29.2K $12.94/SF
Area
Portland, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,060
Cap Rate 7%
$417,186
Cap Rate 9%
$324,478
Alternative Uses
Best Use
Office B
$417.2K
$365.0K – $486.7K
NOI $29,203 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$633.5K
$554.4K – $739.1K
NOI $44,348 @ 7.0% cap · market cap 9.97%
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
4,552
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
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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?
Office building - Multi-level office building on a compact urban lot, built in 1904 and renovated for office use in 2023.
Where is this office building located?
The property is located at 317 Northeast Sacramento Street Portland, OR.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 1904‑built, multi‑level office building with historic character and modern office usability; Recently renovated for office use in 2023; Approx. 2,190–2,256 SF configured as a boutique office converted from residential use
