NE Portland Office
For Sale
$350,000
Pending
4008 Ne M L King Blvd, Portland, OR 97212
Office building in Interstate Opportunity Zone with flexible mixed-use potential.
Property Size1,820 SF
Days on Market229
Property Features for 4008 Ne M L King Blvd
General Information
Standard status
Pending
Size
1,820 SF
Listing Agency:
Real Broker
(503) 737-8010
Listed By:
Javier Alomia · License #200503097
(503) 737-8010
Source:
Exprealty
Added: Jan 6
Changed: Aug 23
Last Checked: Jul 31 at 5:07PM
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
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
$23,559
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
6.73%
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%
$471,180
$471.2K
Cap Rate 7%
$336,557
$336.6K
Cap Rate 9%
$261,767
$261.8K
Market Conditions
NOI Build-Up for 1,820 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
$41.5K $22.80/SF
− Vacancy
−$10.1K −$5.54/SF
EGI
$31.4K $17.26/SF
− OpEx
−$7.9K −$4.31/SF
NOI
$23.6K $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 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%
$471,180
Cap Rate 7%
$336,557
Cap Rate 9%
$261,767
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,563
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
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
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 Blvd 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.
