Two-Level Office
For Sale
$395,000
4536 NE 102nd Ave, Portland, OR 97220
Vacant office property with continued nonconforming office use and RM1 zoning.
Property Size2,166 SF
Lot Size0.31 Acres
Price / SF$182.36
Days on Market51
Property Features for 4536 NE 102nd Ave
General Information
Standard status
Active
Size
2,166 SF
Lot size
0.31 Acres
Zoning
RM1
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Building Details
Year Built
1957
Buildings
1
Stories
2
Building Size
2,166 SF
Owner Occupied
No
Listing Agency:
Premiere Property Group, LLC
Listed By:
Tim Jackson
(503) 957-7981
Source:
Apexgroupnw
Added: Aug 28
Changed: Oct 12
Last Checked: Oct 7 at 4:09PM
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 Premiere Property Group, LLC
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Investment Insights
Based on property information with market context.
This 2,166-square-foot office property occupies an approximately 13,504-square-foot lot and includes a two-level building with a basement. Constructed in 1957, the building has received updates over time and was previously occupied by an accounting firm. It is currently vacant and requires additional work.
The existing office use is being maintained as a nonconforming use, offering a path for continued office occupancy subject to buyer due diligence with the City of Portland. The property is zoned RM1, and the source identifies potential for duplex, fourplex, or other multifamily development, with permitted uses and redevelopment feasibility to be independently confirmed. Its setting near PDX Airport provides access to major transportation routes, shopping, dining, and surrounding amenities.
The existing office use is being maintained as a nonconforming use, offering a path for continued office occupancy subject to buyer due diligence with the City of Portland. The property is zoned RM1, and the source identifies potential for duplex, fourplex, or other multifamily development, with permitted uses and redevelopment feasibility to be independently confirmed. Its setting near PDX Airport provides access to major transportation routes, shopping, dining, and surrounding amenities.
Key Highlights
- Approximately 13,504 SF lot
- 2,166 SF two‑level office building with basement
- Existing office use maintained as a nonconforming use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,038
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,760
$560.8K
Cap Rate 7%
$400,543
$400.5K
Cap Rate 9%
$311,533
$311.5K
Market Conditions
NOI Build-Up for 2,166 SF
Gross rent
$49.4K $22.80/SF
− Vacancy
−$12.0K −$5.54/SF
EGI
$37.4K $17.26/SF
− OpEx
−$9.3K −$4.31/SF
NOI
$28.0K $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%
$560,760
Cap Rate 7%
$400,543
Cap Rate 9%
$311,533
Alternative Uses
Best Use
Office B
$400.5K
$350.5K – $467.3K
NOI $28,038 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$608.3K
$532.2K – $709.7K
NOI $42,579 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office building - Vacant office property with continued nonconforming office use and RM1 zoning.
Where is this office building located?
The property is located at 4536 NE 102nd Ave Portland, OR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Approximately 13,504 SF lot; 2,166 SF two‑level office building with basement; Existing office use maintained as a nonconforming use
