Renovated Multi-Tenant Office
555 SE 99th Ave, Portland, OR 97216
For Sale
$1,950,000
Flexible office property with updated building systems, secure grounds, and a mix of available and leased suites.
Property Size7,100 SF
Price / SF$274.65
Days on Market98
Property Features for 555 SE 99th Ave
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Office Units
Amenities
fully fenced
secure
three automatic security gates
highly visible corner location
Building Details
Building Size
Year Built
Buildings
Tenancy
Listed By:
Rae Nomura, MAI, CCIM · License OR #201246079
(503) 575-8065
Source:
Svn
Added: Aug 8
Changed: Nov 9
Last Checked: Nov 12 at 5:30AM
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 Rae Nomura, MAI, CCIM
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Investment Insights
Based on property information with market context.
This 7,100-square-foot office building contains four suites and was built in 1982. Recent renovations include new HVAC systems throughout, along with electrical and plumbing upgrades. Three suites are available for immediate occupancy, while one suite is leased, creating a combination of owner-user and income-producing space.
The property provides 20 on-site parking spaces and is fully fenced with three automatic security gates. Its corner position in Portland’s Gateway District adds a clear physical presence within the surrounding commercial area. The multi-tenant configuration supports flexible occupancy across the building, with the updated systems and recent capital improvements addressing key operational components.
The property provides 20 on-site parking spaces and is fully fenced with three automatic security gates. Its corner position in Portland’s Gateway District adds a clear physical presence within the surrounding commercial area. The multi-tenant configuration supports flexible occupancy across the building, with the updated systems and recent capital improvements addressing key operational components.
Key Highlights
- 7,100 SF multi‑tenant office building with four suites
- Three suites available for immediate occupancy; one suite leased
- New HVAC systems throughout, plus updated electrical and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,907
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,838,140
$1.8M
Cap Rate 7%
$1,312,957
$1.3M
Cap Rate 9%
$1,021,189
$1.0M
Market Conditions
NOI Build-Up for 7,100 SF
Gross rent
$161.9K $22.80/SF
− Vacancy
−$39.3K −$5.54/SF
EGI
$122.5K $17.26/SF
− OpEx
−$30.6K −$4.31/SF
NOI
$91.9K $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 Rate 5%
$1,838,140
Cap Rate 7%
$1,312,957
Cap Rate 9%
$1,021,189
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,907 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,570 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,591
Businesses Nearby
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Business Placement
Demographics for 97216, OR
17,488
Population
7,235
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,995
Density / Sq Mi
$71,951
Median Household Income
$42,537
Median Earnings
$1,390
Median Rent
$439,000
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Portland, OR
Properties on Market for Office buildings in Portland
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office building - Flexible office property with updated building systems, secure grounds, and a mix of available and leased suites.
Where is this office building located?
The property is located at 555 SE 99th Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 7,100 SF multi‑tenant office building with four suites; Three suites available for immediate occupancy; one suite leased; New HVAC systems throughout, plus updated electrical and plumbing
