Industrial Flex Building with
For Sale
Contact for pricing
3317-3325 NW Yeon Ave, Portland, OR 97210
Office buildouts and insulated ceilings support warehouse and administrative functions.
Property Size37,105 SF
Price / SF$100.39
Days on Market13
Property Features for 3317-3325 NW Yeon Ave
General Information
Standard status
Active
Size
37,105 SF
Class
C
Total Parking Spaces
29
Property subtype
Industrial
Zoning
Heavy Industrial
Occupancy
69%
Lease Type
NNN
Investment Type
Core+
Additional Details
Conditioned Warehouse
Yes
Amenities
office buildouts
fully insulated ceilings
dedicated HVAC
Building Details
Year Built
1960
Buildings
1
Tenancy
Multi
Building Size
37,105 SF
Listing Agency:
CBRE - Portland
Listed By:
Gabe Schnitzer · License #201219538
(503) 944-9449
Source:
Crexi
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 2:53PM
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
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.
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 = 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
$282,794
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
7.59%
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%
$5,655,880
$5.7M
Cap Rate 7%
$4,039,914
$4.0M
Cap Rate 9%
$3,142,156
$3.1M
Market Conditions
NOI Build-Up for 37,105 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
$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 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%
$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
NOI $376,824 @ 7.0% cap · market cap 10.12%
Second Best
Warehouse
$4.04M
$3.53M – $4.71M
NOI $282,794 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$10.42M
$9.12M – $12.16M
NOI $729,400 @ 7.0% cap · market cap 19.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- Fuego Food Carts Burritos & Bowls — 2741 nw vaughn st, portland, or 97210
- Howard's BBQ & Catering — 3330 NW Yeon Ave, Portland, OR 97210
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
