Two-Suite Mixed-Use
For Sale
$450,000
5263 NE MLK Jr. Blvd, Portland, OR 97211
CommercialSale, Portland, OR
Property Size952 SF
Lot Size1.60 Acres
Price / SF$472.69
Days on Market83
Property Features for 5263 NE MLK Jr. Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM3
Directions
NE Emerson Street
Subdivision
_142
Standard status
Active
APN
R611000
Size
952 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Description
VANPORT SQUARE CONDOMINIUMS, LOT 11
Tax Annual Amount
4414
Legal Description
VANPORT SQUARE CONDOMINIUMS, LOT 11
Utilities
Heating system
Zoned, Forced Air
Cooling system
Central Air
Building Details
Year built
2007
Building materials
Block, Concrete, MetalFrame
Roof type
Flat
Listing Agency:
Knipe Realty ERA Powered
(503) 445-7660
Listed By:
Daniel Silvey · License #201209834
(503) 201-8537
Added: Jun 5
Changed: Aug 25
Last Checked: Aug 26 at 4:06AM
MLS# 311665647
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 ground-floor mixed-use condominium contains 952 square feet divided into two separately demised suites. Both suites are occupied under short-term leases, providing current tenancy while retaining flexibility for future use. The building was constructed in 2007 with block, concrete, and metal-frame construction, a flat roof, zoned forced-air heating, and central air conditioning.
The property fronts NE Martin Luther King Jr. Boulevard in Portland and includes access to a rear off-street surface parking lot. The front suite is positioned along the boulevard, with exposure to vehicle and pedestrian traffic. The condominium is part of Vanport Square, a mixed-use retail and office complex, and carries CM3 zoning. The property sits on a 1.6-acre lot.
The property fronts NE Martin Luther King Jr. Boulevard in Portland and includes access to a rear off-street surface parking lot. The front suite is positioned along the boulevard, with exposure to vehicle and pedestrian traffic. The condominium is part of Vanport Square, a mixed-use retail and office complex, and carries CM3 zoning. The property sits on a 1.6-acre lot.
Key Highlights
- Two separately demised commercial suites within a single condominium
- Both suites occupied under short‑term leases
- 952 square feet of ground‑floor commercial space
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
$12,852
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
2.86%
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%
$257,040
$257.0K
Cap Rate 7%
$183,600
$183.6K
Cap Rate 9%
$142,800
$142.8K
Market Conditions
NOI Build-Up for 952 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
$22.8K $24.00/SF
− Vacancy
−$2.3K −$2.40/SF
EGI
$20.6K $21.60/SF
− OpEx
−$7.7K −$8.10/SF
NOI
$12.9K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$257,040
Cap Rate 7%
$183,600
Cap Rate 9%
$142,800
Alternative Uses
Best Use
Mixed Use
$183.6K
$160.7K – $214.2K
NOI $12,852 @ 7.0% cap · market cap 2.86%
Second Best
Office B
$176.0K
$154.0K – $205.4K
NOI $12,323 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$267.3K
$233.9K – $311.9K
NOI $18,714 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,382
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial condominium with two separately configured suites, short-term tenant leases, and rear surface parking.
Where is this mixed-use property located?
The property is located at 5263 NE MLK Jr. Blvd Portland, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two separately demised commercial suites within a single condominium; Both suites occupied under short‑term leases; 952 square feet of ground‑floor commercial space
