Portland Industrial Facility For
For Sale
Contact for pricing
5822 NE Skyport Way, Portland, OR 97218
63,916 SF industrial facility in NE Portland's Airport Way.
Property Size63,916 SF
Lot Size2.60 Acres
Price / SF$170
Days on Market199
Property Features for 5822 NE Skyport Way
General Information
Standard status
Active
Size
63,916 SF
Lot size
2.60 Acres
Property subtype
Industrial
Zoning
IG-2 General Industrial 2
Occupancy
100%
Lease Type
NNN
Net Operating Income
$479,370
Building Details
Tenancy
Single
Listing Agency:
Wright Commercial LLC
Listed By:
Eric Ziegler · License #201103068
Source:
Crexi
Added: Feb 4
Changed: Aug 13
Last Checked: Aug 20 at 8:59AM
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 Wright Commercial LLC
Investment Insights
Based on property information with market context.
The property at 5822 NE Skyport Way is a 63,916 SF concrete tilt-up industrial facility situated in NE Portland’s established Airport Way corridor. The building includes approximately 50,360 SF of functional warehouse space featuring a 24-foot clear height, dock and grade-level loading, a wet sprinkler system, and 3-phase power. There is also about 6,750 SF of built-out office space and approximately 6,806 SF of mezzanine. Positioned on a 2.6-acre site, the property provides access to I-205, Hwy 30, and PDX airport, offering operational efficiency and regional connectivity. The property is currently leased through November 2026, presenting an opportunity for an owner-user or investor seeking a stable asset with future flexibility in a core industrial location.
Key Highlights
- Excellent access to I‑205, Hwy 30, and PDX airport.
- Boasting ~50,360 SF of functional warehouse space with 24’ clear height.
- Located in NE Portland’s established Airport Way corridor.
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
$827,373
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
7.61%
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%
$16,547,460
$16.5M
Cap Rate 7%
$11,819,614
$11.8M
Cap Rate 9%
$9,193,033
$9.2M
Market Conditions
NOI Build-Up for 63,916 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
$1.46M $22.80/SF
− Vacancy
−$354.1K −$5.54/SF
EGI
$1.10M $17.26/SF
− OpEx
−$275.8K −$4.31/SF
NOI
$827.4K $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 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%
$16,547,460
Cap Rate 7%
$11,819,614
Cap Rate 9%
$9,193,033
Alternative Uses
Best Use
Office B
$11.82M
$10.34M – $13.79M
NOI $827,373 @ 7.0% cap · market cap 7.61%
Second Best
Warehouse
$6.96M
$6.09M – $8.12M
NOI $487,132 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$17.95M
$15.71M – $20.94M
NOI $1,256,443 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- PDX Auto Storage — 5327 NE Columbia Blvd #97218, Portland, OR 97218
- Metro Storage Box — 5611 NE Columbia Blvd, Portland, OR 97218
- Self Storage — 4800 ne simpson st, portland, or 97218
Frequently Asked Questions
What type of property is this?
Warehouse - 63,916 SF industrial facility in NE Portland's Airport Way.
Where is this warehouse located?
The property is located at 5822 NE Skyport Way Portland, OR.
What is the asking price?
The asking price for this property is $10,865,720.
What are key features of this property?
This property features: Excellent access to I‑205, Hwy 30, and PDX airport.; Boasting ~50,360 SF of functional warehouse space with **24’ clear height.**; Located in NE Portland’s established Airport Way corridor.
