Updated Flex Space with Dual
5215 SE FLAVEL DR, Portland, OR 97206
For Sale
$369,000
Updated configuration combines office, reception, storage, HVAC, and separate entrances for flexible occupancy.
Property Size1,455 SF
Days on Market100
Property Features for 5215 SE FLAVEL DR
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Highway Access
Road Access
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Homes International Oregon
Listed By:
Nicholas Newman · License OR #200411208
(503) 250-3546
Source:
Eleeterealestate
Added: Aug 3
Changed: Nov 8
Last Checked: Nov 8 at 11:58AM
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 Homes International Oregon
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Investment Insights
Based on property information with market context.
This flex property offers a compact combination of office and storage improvements. The current layout includes two private offices, a reception and lobby area, warehouse/storage space, and one bathroom. Two front entrances and an interior dividing wall support separate occupancy arrangements. Recent improvements include new flooring and paint, along with HVAC service. Five striped parking spaces are positioned at the front of the building.
The property is near Johnson Creek Blvd and I-205, providing access to Portland business districts, retail corridors, and surrounding communities. Its near-corner position includes frontage and exposure to local traffic. The 1926 building is configured for a single occupant but can accommodate an owner-user arrangement with one portion leased separately.
The property is near Johnson Creek Blvd and I-205, providing access to Portland business districts, retail corridors, and surrounding communities. Its near-corner position includes frontage and exposure to local traffic. The 1926 building is configured for a single occupant but can accommodate an owner-user arrangement with one portion leased separately.
Key Highlights
- Two private offices plus reception and lobby areas
- Warehouse/storage space with one bathroom
- Two front entrances and an interior dividing wall
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,835
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,700
$376.7K
Cap Rate 7%
$269,071
$269.1K
Cap Rate 9%
$209,278
$209.3K
Market Conditions
NOI Build-Up for 1,455 SF
Gross rent
$33.2K $22.80/SF
− Vacancy
−$8.1K −$5.54/SF
EGI
$25.1K $17.26/SF
− OpEx
−$6.3K −$4.31/SF
NOI
$18.8K $12.94/SF
Area
ZIP 97206
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%
$376,700
Cap Rate 7%
$269,071
Cap Rate 9%
$209,278
Alternative Uses
Best Use
Office B
$269.1K
$235.4K – $313.9K
NOI $18,835 @ 7.0% cap · market cap 5.10%
Second Best
Warehouse
$168.3K
$147.3K – $196.4K
NOI $11,782 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$408.6K
$357.5K – $476.7K
NOI $28,602 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Portland, OR
Properties on Market for Flex space in Portland
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Flex space - Updated configuration combines office, reception, storage, HVAC, and separate entrances for flexible occupancy.
Where is this flex space located?
The property is located at 5215 SE FLAVEL DR Portland, OR.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two private offices plus reception and lobby areas; Warehouse/storage space with one bathroom; Two front entrances and an interior dividing wall
