Office Building For
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4747 S Kelly Ave, Portland, OR 97239
6,681 SF office building available for purchase.
Property Size6,681 SF
Price / SF$354.74
Days on Market1418
Property Features for 4747 S Kelly Ave
General Information
Standard status
Active
Size
6,681 SF
Total Parking Spaces
15
Property subtype
Office
Zoning
CM2
Listing Agency:
Doug Bean & Associates
Listed By:
Adam Bean · License #201204706
(503) 222-5100
Source:
Crexi
Added: Oct 25, 2022
Changed: Sep 9
Last Checked: Sep 10 at 6:07AM
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 Doug Bean & Associates
Investment Insights
Based on property information with market context.
This commercial property, categorized as an office building, offers 6,681 square feet of space and is available for sale.
Key Highlights
- Office space available
- Size: 6,681 SF
- Property type: office
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
$86,484
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
3.65%
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%
$1,729,680
$1.7M
Cap Rate 7%
$1,235,486
$1.2M
Cap Rate 9%
$960,933
$960.9K
Market Conditions
NOI Build-Up for 6,681 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
$152.3K $22.80/SF
− Vacancy
−$37.0K −$5.54/SF
EGI
$115.3K $17.26/SF
− OpEx
−$28.8K −$4.31/SF
NOI
$86.5K $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 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%
$1,729,680
Cap Rate 7%
$1,235,486
Cap Rate 9%
$960,933
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.44M
NOI $86,484 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,333 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,247
Businesses Nearby
Explore this area
Business Placement
Demographics for 97239, OR
18,323
Population
9,963
Households
1.8
Avg Household Size
39
Median Age
74%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
5,090
Density / Sq Mi
$108,795
Median Household Income
$67,384
Median Earnings
$1,749
Median Rent
$713,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - 6,681 SF office building available for purchase.
Where is this office building located?
The property is located at 4747 S Kelly Ave Portland, OR.
What is the asking price?
The asking price for this property is $2,370,000.
What are key features of this property?
This property features: Office space available; Size: 6,681 SF; Property type: office
