Two-Level Office
New
For Sale
$500,000
4536 NE 102ND Ave, Portland, OR 97220
CommercialSale, Portland, OR
Property Size2,166 SF
Lot Size0.31 Acres
Price / SF$230.84
Days on Market3
Property Features for 4536 NE 102ND Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
RM1
Directions
I-84 E to 102nd Ave exit, north on 102nd to property
Subdivision
_142
Standard status
Active
APN
R235133
Size
2,166 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
PARKROSE & RPLT, BLOCK 11, LOT D EXC PT IN ST
Tax Annual Amount
7321
Legal Description
PARKROSE & RPLT, BLOCK 11, LOT D EXC PT IN ST
Utilities
Heating system
Ceiling
Building Details
Year built
1957
Floors in Building
1
Building materials
Brick
Roof type
Flat
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Tim Jackson
(503) 957-7981
Added: Aug 26
Last Checked: Aug 28 at 4:06PM
MLS# 548745015
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property includes a 2,166-square-foot office building arranged across two levels with a basement. Constructed in 1957, the brick building has been updated over time and features a flat roof and ceiling heat. The space is vacant and the existing office use is maintained as a nonconforming use under current RM1 zoning.
The site encompasses approximately 13,504 square feet near PDX Airport, with access to major transportation routes as well as shopping and dining. RM1 zoning may support duplex, fourplex, or other multifamily development, subject to buyer verification with the City of Portland. The property offers an existing office configuration alongside a separately identified redevelopment path.
The site encompasses approximately 13,504 square feet near PDX Airport, with access to major transportation routes as well as shopping and dining. RM1 zoning may support duplex, fourplex, or other multifamily development, subject to buyer verification with the City of Portland. The property offers an existing office configuration alongside a separately identified redevelopment path.
Key Highlights
- 2,166 SF two‑level office building with basement
- Approximately 13,504 SF lot
- RM1 zoning may support duplex, fourplex, or other multifamily development
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
$28,038
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
5.61%
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%
$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
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
$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 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%
$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 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$608.3K
$532.2K – $709.7K
NOI $42,579 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Vacant office property with basement space, brick construction, 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 $500,000.
What are key features of this property?
This property features: 2,166 SF two‑level office building with basement; Approximately 13,504 SF lot; RM1 zoning may support duplex, fourplex, or other multifamily development
