Corner Office Building with Off-Street
For Sale
$625,000
5848 SE MILWAUKIE AVE, Portland, OR 97202
Office building on a corner lot with off-street parking and an average daily traffic count of 4,383.
Property Size2,856 SF
Days on Market50
Property Features for 5848 SE MILWAUKIE AVE
General Information
Standard status
Active
Size
2,856 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$4,843
Building Details
Building Size
2,856 SF
Year Built
1904
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Bradley King · License #201235429
(503) 313-8262
Source:
Eleeterealestate
Added: Jul 30
Changed: Sep 15
Last Checked: Sep 17 at 3:57AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
This office building offers a flexible interior configuration that can accommodate retail. The property is 2,856 square feet and sits on a corner lot, supporting tenant access and street-facing exposure. Off-street parking is available for visitors and staff.
Located in Portland’s Westmoreland neighborhood at 5848 SE Milwaukie Ave, the property benefits from average daily traffic of 4,383. The corner-lot positioning can help a business capture passing attention while maintaining dedicated off-street parking.
The current office setup provides a practical base for a user seeking space that can be configured for retail operations, depending on layout needs and use requirements.
Located in Portland’s Westmoreland neighborhood at 5848 SE Milwaukie Ave, the property benefits from average daily traffic of 4,383. The corner-lot positioning can help a business capture passing attention while maintaining dedicated off-street parking.
The current office setup provides a practical base for a user seeking space that can be configured for retail operations, depending on layout needs and use requirements.
Key Highlights
- 2,856 square feet office building with a configuration that can accommodate retail
- Corner lot positioning
- Off‑street parking
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
$39,620
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
6.34%
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%
$792,400
$792.4K
Cap Rate 7%
$566,000
$566.0K
Cap Rate 9%
$440,222
$440.2K
Market Conditions
NOI Build-Up for 2,856 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
$72.0K $25.20/SF
− Vacancy
−$19.1K −$6.70/SF
EGI
$52.8K $18.50/SF
− OpEx
−$13.2K −$4.62/SF
NOI
$39.6K $13.87/SF
Area
ZIP 97202
Vacancy
26.60%
Lease Rate
$25.20 /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%
$792,400
Cap Rate 7%
$566,000
Cap Rate 9%
$440,222
Alternative Uses
Best Use
Office B
$566.0K
$495.3K – $660.3K
NOI $39,620 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$681.4K
$596.2K – $794.9K
NOI $47,695 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
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
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Frequently Asked Questions
What type of property is this?
Office building - Office building on a corner lot with off-street parking and an average daily traffic count of 4,383.
Where is this office building located?
The property is located at 5848 SE MILWAUKIE AVE Portland, OR.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,856 square feet office building with a configuration that can accommodate retail; Corner lot positioning; Off‑street parking
