Prime NE MLK Blvd
For Sale
$5,195,000
4401 Wi NE Martin Luther King Blvd, Portland, OR 97211
1.54 AC site with 34,157 SF industrial warehouse.
Property Size34,157 SF
Lot Size1.54 Acres
Price / SF$152.09
Days on Market188
Property Features for 4401 Wi NE Martin Luther King Blvd
General Information
Standard status
Active
Size
34,157 SF
Lot size
1.54 Acres
Property subtype
Industrial
Listing Agency:
Capacity Commercial Group
(503) 222-2655
Listed By:
Nicholas Diamond · License #OR #200403266
Source:
Corfac
Added: Jan 26
Changed: Jul 6
Last Checked: Aug 2 at 6:33AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This 1.54 AC site is located along NE MLK Blvd in Portland's King Neighborhood. The property currently consists of a 34,157 SF industrial warehouse with office space. The building has a FAR of 3:1 base and 5:1 bonus. There are over 40 off-street parking spaces. The CM3 zoning allows for a broad range of uses including retail, office, and residential. The location offers high visibility on MLK Blvd with over 58,000 vehicles per day. This property will be delivered vacant, making it suitable for a variety of buyers including owner/users, repurposing of the existing building, or ground-up development.
Key Highlights
- 1.54 AC site with CM3 zoning allowing for retail, office, and residential uses.
- High visibility location on NE MLK Blvd with over 58,000 vehicles per day.
- Delivered vacant, suitable for owner‑user, repurposing, or ground‑up development.
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 | $778.8k | $22.80 |
| − Vacancy | −$189.2k | −$5.54 |
| EGI | $589.5k | $17.26 |
| − OpEx | −$147.4k | −$4.31 |
| NOI | $442.2k | $12.94 |
34,157 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.32M
$5.53M – $7.37M
NOI $442,152 @ 7.0% cap · market cap 8.51%
Second Best
Retail
$5.69M
$4.98M – $6.64M
NOI $398,100 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$9.59M
$8.39M – $11.19M
NOI $671,449 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Extra Space Storage — 2845 NE Columbia Blvd, Portland, OR 97211
- Public Storage — 3260 NE Columbia Blvd, Portland, OR 97211
- The Rachel M. Bristol Warehouse — 7900 NE 33rd Dr, Portland, OR 97211
Frequently Asked Questions
What type of property is this?
Warehouse - 1.54 AC site with 34,157 SF industrial warehouse.
Where is this warehouse located?
The property is located at 4401 Wi NE Martin Luther King Blvd Portland, OR.
What is the asking price?
The asking price for this property is $5,195,000.
What are key features of this property?
This property features: 1.54 AC site with CM3 zoning allowing for retail, office, and residential uses.; High visibility location on NE MLK Blvd with over 58,000 vehicles per day.; Delivered vacant, suitable for owner‑user, repurposing, or ground‑up development.
