Fully Renovated Two-Story Office
5538 SE 22nd Ave Portland, OR 97202
5538 SE 22nd Ave, Portland, OR, 97202
$799,000
For Sale
$799,000
Turnkey two-story office with private and open workspaces, 2 baths, and 5 dedicated parking spaces plus street parking.
Property Size2,170 SF
Price / SF$368.20
Days on Market57
Property Features for 5538 SE 22nd Ave
General Information
- Standard status
- Active
- Size
- 2,170 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing agency
Networth Realty Of Portland
(503) 887-0616
Listed by
Monica Bugarin
(503) 887-0616
Source
Allprofessionalsre
Added: May 27 Updated: Jul 22 at 9:29AM Checked: Jul 22 at 9:29AM
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 Networth Realty Of Portland
Investment Insights
Based on property information with market context.
Fully renovated two-story commercial property with a turnkey interior buildout and a flexible layout featuring multiple private and open workspaces. The space includes 1 full bath and 1 half bath, with updated interior finishes throughout. Originally built in 1963 and extensively renovated, the property provides approximately 2,170 square feet of professional work and studio-ready space.
The property is located in the Sellwood-Moreland area of Southeast Portland, positioned just minutes from major highway access while remaining within a residential neighborhood. Visibility is noted near McLoughlin Blvd. Parking includes 5 dedicated spaces plus street parking.
The property may be suited for office, studio, boutique commercial, or other uses permitted under the CE (Commercial Employment) zoning. Seller is open to a post-closing leaseback at approximately $4,000/month for up to 6 months, with lease terms, timing, and conditions to be negotiated separately and documented in writing.
The property is located in the Sellwood-Moreland area of Southeast Portland, positioned just minutes from major highway access while remaining within a residential neighborhood. Visibility is noted near McLoughlin Blvd. Parking includes 5 dedicated spaces plus street parking.
The property may be suited for office, studio, boutique commercial, or other uses permitted under the CE (Commercial Employment) zoning. Seller is open to a post-closing leaseback at approximately $4,000/month for up to 6 months, with lease terms, timing, and conditions to be negotiated separately and documented in writing.
Key Highlights
- 2,170 SF, two‑story fully renovated mixed‑use commercial space built in 1963
- Layout includes multiple private and open workspaces plus 1 full bath and 1 half bath
- CE (Commercial Employment) zoning; suitable for office, studio, boutique commercial, and other permitted uses
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.7k | $25.20 |
| − Vacancy | −$14.5k | −$6.70 |
| EGI | $40.1k | $18.50 |
| − OpEx | −$10.0k | −$4.62 |
| NOI | $30.1k | $13.87 |
2,170 SF · lease $25.20/SF/yr · vacancy 26.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$430.1K
$376.3K – $501.7K
NOI $30,104 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$517.7K
$453.0K – $604.0K
NOI $36,239 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
NetWorth Realty of Portland, ...
Real Estate Agency
Rock 'N' Roll ...
Tutoring Service
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FAQs
What type of property is this?
Office building - Turnkey two-story office with private and open workspaces, 2 baths, and 5 dedicated parking spaces plus street parking.
Where is this office building located?
The property is located at 5538 SE 22nd Ave Portland, OR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,170 SF, two‑story fully renovated mixed‑use commercial space built in 1963; Layout includes multiple private and open workspaces plus 1 full bath and 1 half bath; CE (Commercial Employment) zoning; suitable for office, studio, boutique commercial, and other permitted uses
