Two-Story Office
New
For Sale
$780,000
3236 S Kelly Avenue, Portland, OR 97239
The floor plan supports either a single occupant or multiple users, with separate access points on both levels.
Property Size3,000 SF
Lot Size0.19 Acres
Price / SF$260
Days on Market3
Property Features for 3236 S Kelly Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
13
Lot size
0.19 Acres
Property subtype
Office
Zoning
RM3
Site & Location
Neighborhood
South Portland
Highway Access
Yes
Additional Details
Property Use
Office
Amenities
restrooms
break room
Building Details
Building Size
3,000 SF
Buildings
1
Stories
2
Listed By:
Joe Kappler · License #OR #200605069
(503) 972-7294
Source:
Macadamforbes
Added: Oct 30
Last Checked: Nov 1 at 4:48AM
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 Joe Kappler
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Investment Insights
Based on property information with market context.
This 3,000-square-foot office building occupies an 8,155-square-foot lot and is arranged across two floors. Each level has multiple private offices along the window line, restrooms, and two entry and exit points. A break room is located on the main level beside the parking area. Recent work includes exterior painting and roof repairs. The building is zoned RM3.
The property fronts I-5 and provides 13 off-street parking stalls. A direct connection to the Gibbs Street Pedestrian Bridge provides access to the South Waterfront. Its two-level configuration can serve one occupant or multiple occupants.
The property fronts I-5 and provides 13 off-street parking stalls. A direct connection to the Gibbs Street Pedestrian Bridge provides access to the South Waterfront. Its two-level configuration can serve one occupant or multiple occupants.
Key Highlights
- 3,000 SF office building on an 8,155 SF lot
- Two floors, each with multiple private offices, restrooms, and two access points
- 13 off‑street parking stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,834
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$776,680
$776.7K
Cap Rate 7%
$554,771
$554.8K
Cap Rate 9%
$431,489
$431.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$68.4K $22.80/SF
− Vacancy
−$16.6K −$5.54/SF
EGI
$51.8K $17.26/SF
− OpEx
−$12.9K −$4.31/SF
NOI
$38.8K $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%
$776,680
Cap Rate 7%
$554,771
Cap Rate 9%
$431,489
Alternative Uses
Best Use
Office B
$554.8K
$485.4K – $647.2K
NOI $38,834 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$842.5K
$737.2K – $982.9K
NOI $58,973 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,380
Businesses Nearby
Explore this area
Business Placement
Demographics for 97239, OR
18,323
Population
9,963
Households
1.8
Avg Household Size
39
Median Age
74%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
5,090
Density / Sq Mi
$108,795
Median Household Income
$67,384
Median Earnings
$1,749
Median Rent
$713,100
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 - The floor plan supports either a single occupant or multiple users, with separate access points on both levels.
Where is this office building located?
The property is located at 3236 S Kelly Avenue Portland, OR.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 3,000 SF office building on an 8,155 SF lot; Two floors, each with multiple private offices, restrooms, and two access points; 13 off‑street parking stalls
