NE Portland Office
4008 NE M L KING Portland, OR 97212
For Sale
$350,000
Office building in Interstate Opportunity Zone with flexible mixed-use potential.
Property Size1,820 SF
Lot Size0.10 Acres
Price / SF$192.31
Days on Market200
Property Features for 4008 NE M L KING
General Information
- Standard status
- Active
- Size
- 1,820 SF
- Lot size
- 0.10 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing Agency:
REAL BROKER
(855) 450-0442
Listed By:
JAVIER ALOMIA · License #200503097
Source:
Corcoran
Added: Jan 6
Changed: Jul 10
Last Checked: Jul 23 at 8:19PM
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 REAL BROKER
Investment Insights
Based on property information with market context.
This spacious office building features an open-concept workspace, a conference room, and a kitchen area. It also includes two bathrooms and adjacent off-street parking. Situated in a prime NE Portland corridor within the Interstate Opportunity Zone, the property offers flexible layouts suitable for both open and private offices. Ample amenities support daily operations and collaboration. A tranquil landscaped outdoor space is also available. The site is zoned Commercial Mixed Use 3 (CM3), which allows for retail, office, residential, and mixed-use development, encouraging active streetscapes and a pedestrian-friendly environment. With excellent transit access to major routes and surrounded by an established local business community, this 1820 square foot property presents a compelling opportunity for a wide range of commercial or mixed-use users.
Key Highlights
- Prime NE Portland location within Interstate Opportunity Zone.
- Flexible Commercial Mixed Use 3 (CM3) zoning allows for diverse development options.
- Spacious open‑concept office building suitable for open or private offices.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.5k | $22.80 |
| − Vacancy | −$10.1k | −$5.54 |
| EGI | $31.4k | $17.26 |
| − OpEx | −$7.9k | −$4.31 |
| NOI | $23.6k | $12.94 |
1,820 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$336.6K
$294.5K – $392.7K
NOI $23,559 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$511.1K
$447.2K – $596.3K
NOI $35,777 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Office building in Interstate Opportunity Zone with flexible mixed-use potential.
Where is this office building located?
The property is located at 4008 NE M L KING Portland, OR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime NE Portland location within Interstate Opportunity Zone.; Flexible Commercial Mixed Use 3 (CM3) zoning allows for diverse development options.; Spacious open‑concept office building suitable for open or private offices.
