Remodeled Building in Arbor
For Sale
$895,000
5819 N GREELEY, Portland, OR 97217
Refreshed building in vibrant NoPo neighborhood with live-work potential.
Property Size2,168 SF
Price / SF$412.82
Days on Market542
Property Features for 5819 N GREELEY
General Information
Standard status
Active
Size
2,168 SF
Taxes and HOA fees
Annual Taxes
$4,029
Building Details
Year Built
1906
Listing Agency:
INVESTORS TRUST REALTY
Listed By:
JAMES DEMARCO
Source:
Corcoran
Added: Apr 24, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:08AM
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 INVESTORS TRUST REALTY
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Investment Insights
Based on property information with market context.
Located in the Arbor Lodge Park Overlook neighborhood, this refreshed and remodeled building offers potential in every direction. The property features 7 private offices, a lobby, a lounge room, a therapy room, and a relaxation room. Situated in the vibrant Arbor Lodge Park neighborhood of NoPo, the location provides convenient access to the Adidas campus, coffee shops, cafes, pubs, food carts, shops, and parks. The property offers live-work potential with office, retail, and business space. The property is zoned CM1, offering multiple options to add or build an ADU or more.
Key Highlights
- Prime Location: In the highly desirable and convenient Arbor Lodge Park neighborhood in North Portland (NoPo).
- Versatile CM1 Zoning: Explore opportunities for adding an ADU or further development (subject to city approval).
- Remodeled Building: Features 7 private offices, lobby, lounge, therapy, and relaxation rooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,268
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,360
$585.4K
Cap Rate 7%
$418,114
$418.1K
Cap Rate 9%
$325,200
$325.2K
Market Conditions
NOI Build-Up for 2,168 SF
Gross rent
$52.0K $24.00/SF
− Vacancy
−$5.2K −$2.40/SF
EGI
$46.8K $21.60/SF
− OpEx
−$17.6K −$8.10/SF
NOI
$29.3K $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 Rate 5%
$585,360
Cap Rate 7%
$418,114
Cap Rate 9%
$325,200
Alternative Uses
Best Use
Mixed Use
$418.1K
$365.9K – $487.8K
NOI $29,268 @ 7.0% cap · market cap 3.27%
Second Best
Office B
$400.9K
$350.8K – $467.7K
NOI $28,064 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$608.8K
$532.7K – $710.3K
NOI $42,618 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office units - Refreshed building in vibrant NoPo neighborhood with live-work potential.
Where is this office units located?
The property is located at 5819 N GREELEY Portland, OR.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Prime Location: In the highly desirable and convenient Arbor Lodge Park neighborhood in North Portland (NoPo).; Versatile CM1 Zoning: Explore opportunities for adding an ADU or further development (subject to city approval).; Remodeled Building: Features 7 private offices, lobby, lounge, therapy, and relaxation rooms.
