Building Details

Year Built 1960

Buildings 1

Tenancy Multi

Building Size 37,105 SF

Listing Agency: CBRE - Portland

Listed By: Gabe Schnitzer · License #201219538 Show Phone

Source: Crexi

Added: Aug 24 Changed: Oct 25 Last Checked: Oct 24 at 2:49PM

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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 CBRE - Portland

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Investment Insights

Based on property information with market context.

Built in 1960, this 37,105-square-foot flex industrial property spans four parcels and combines warehouse space with office buildouts. Fully insulated ceilings and dedicated HVAC serve both portions of the building, providing consistent environmental control throughout the working areas.

The property is located at 3317-3325 NW Yeon Ave in Portland’s Guild’s Lake Industrial Sanctuary and carries Heavy Industrial zoning. Its mix of warehouse and office improvements creates a functional format for industrial operations requiring both production or storage areas and administrative space.

Key Highlights

• 37,105 SF industrial building situated across four parcels
• Heavy Industrial zoning
• Office buildouts integrated with warehouse space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$282,794

Cap Rate

7.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,655,880 $5.7M

Cap Rate 7%

$4,039,914 $4.0M

Cap Rate 9%

$3,142,156 $3.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 37,105 SF

Gross rent

$356.2K $9.60/SF

− Vacancy

−$23.5K −$0.63/SF

EGI

$332.7K $8.97/SF

− OpEx

−$49.9K −$1.34/SF

NOI

$282.8K $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%

$5,655,880

Cap Rate 7%

$4,039,914

Cap Rate 9%

$3,142,156

Alternative Uses

Best Use

Flex RnD

$5.38M

$4.71M – $6.28M (±1% cap)

NOI $376,824 @ 7.0% cap · market cap 10.12%

Second Best

Warehouse

$4.04M

$3.53M – $4.71M (±1% cap)

NOI $282,794 @ 7.0% cap · market cap 7.59%

Theoretical Best

Office A

$10.42M

$9.12M – $12.16M (±1% cap)

NOI $729,400 @ 7.0% cap · market cap 19.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Pharmacy Accounting Firm Auto Parts Store Garden Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,066

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 97210, OR

13,016

Population

7,910

Households

1.6

Avg Household Size

38

Median Age

76%

College-Educated

97%

High-School Grad

8.9 sq mi

ZIP Area

1,462

Density / Sq Mi

$87,942

Median Household Income

$66,429

Median Earnings

$1,577

Median Rent

$991,500

Median Home Value

Market

Vacancy Rate% for Industrial in Portland, OR

3.4% 2019

4.1% 2020

2.5% 2021

2.1% 2022

4.2% 2023

5.5% 2024

6.6% 2025

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Similar Off Market Nearby

• Fuego Food Carts Burritos & Bowls — 2741 nw vaughn st, portland, or 97210
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Frequently Asked Questions

What type of property is this?

Flex space - Office buildouts and insulated ceilings support warehouse and administrative functions.

Where is this flex space located?

The property is located at 3317-3325 NW Yeon Ave Portland, OR.

What is the asking price?

The asking price for this property is $3,725,000.

What are key features of this property?

This property features: 37,105 SF industrial building situated across four parcels; Heavy Industrial zoning; Office buildouts integrated with warehouse space