Freestanding Commercial Building with
For Sale
Contact for pricing
4023 NE Tillamook St, Portland, OR
Commercial building with off-street parking and building signage available.
Property Size3,132 SF
Lot Size0.11 Acres
Price / SF$279.37
Days on Market568
Property Features for 4023 NE Tillamook St
General Information
Standard status
Active
Size
3,132 SF
Lot size
0.11 Acres
Property subtype
OFFICE
Site & Location
Neighborhood
Grant Park/Hollywood
Listing Agency:
Macadam Forbes
(503) 227-2500
Listed By:
Joe Kappler · License #200605069
(503) 972-7294
Source:
Moodyscre
Added: Apr 16, 2025
Changed: Oct 25
Last Checked: Nov 4 at 1:47PM
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 Macadam Forbes
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding commercial building offers 3,132 square feet of space and includes off-street parking. Building signage is available. The property features a heavy office buildout with restrooms in each space.
Key Highlights
- Freestanding commercial building
- Benefit from off‑street parking
- Building signage available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,543
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,860
$810.9K
Cap Rate 7%
$579,186
$579.2K
Cap Rate 9%
$450,478
$450.5K
Market Conditions
NOI Build-Up for 3,132 SF
Gross rent
$71.4K $22.80/SF
− Vacancy
−$17.4K −$5.54/SF
EGI
$54.1K $17.26/SF
− OpEx
−$13.5K −$4.31/SF
NOI
$40.5K $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%
$810,860
Cap Rate 7%
$579,186
Cap Rate 9%
$450,478
Alternative Uses
Best Use
Office B
$579.2K
$506.8K – $675.7K
NOI $40,543 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$879.5K
$769.6K – $1.03M
NOI $61,568 @ 7.0% cap · market cap 7.04%
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
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office building - Commercial building with off-street parking and building signage available.
Where is this office building located?
The property is located at 4023 NE Tillamook St Portland, OR.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Freestanding commercial building; Benefit from off‑street parking; Building signage available
