Office Unit in McCormick
New
For Sale
$475,000
600 NW Naito PKWY #D, Portland, OR 97209
The 1982-built commercial space is near downtown Portland transit and riverfront paths.
Property Size1,270 SF
Price / SF$374.02
Days on Market4
Property Features for 600 NW Naito PKWY #D
General Information
Standard status
Active
Size
1,270 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Building Details
Year Built
1982
Listing Agency:
Keller Williams Realty Professionals
Listed By:
Brittany Gibbs · License #201209867
(503) 836-2010
Source:
Findhousesinoregon
Added: Oct 11
Changed: Oct 13
Last Checked: Oct 12 at 7:27PM
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 Professionals
Investment Insights
Based on property information with market context.
Unit D is a 1,270-square-foot office unit in the McCormick Pier building at 600 NW Naito Parkway. Constructed in 1982, the space is part of a commercial property in Portland’s downtown waterfront area.
The location is near the Pearl District, Old Town, downtown Portland, Union Station, and MAX light rail. The Willamette River Greenway Trail and nearby restaurants, shops, and residential areas are also in the surrounding district. The complex offers covered and deeded parking options.
The location is near the Pearl District, Old Town, downtown Portland, Union Station, and MAX light rail. The Willamette River Greenway Trail and nearby restaurants, shops, and residential areas are also in the surrounding district. The complex offers covered and deeded parking options.
Key Highlights
- 1,270‑square‑foot office unit, identified as Unit D
- Located in the McCormick Pier building at 600 NW Naito Parkway
- Building constructed in 1982
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,440
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,800
$328.8K
Cap Rate 7%
$234,857
$234.9K
Cap Rate 9%
$182,667
$182.7K
Market Conditions
NOI Build-Up for 1,270 SF
Gross rent
$29.0K $22.80/SF
− Vacancy
−$7.0K −$5.54/SF
EGI
$21.9K $17.26/SF
− OpEx
−$5.5K −$4.31/SF
NOI
$16.4K $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 Rate 5%
$328,800
Cap Rate 7%
$234,857
Cap Rate 9%
$182,667
Alternative Uses
Best Use
Office B
$234.9K
$205.5K – $274.0K
NOI $16,440 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.6K
$312.1K – $416.1K
NOI $24,965 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 97209, OR
22,755
Population
16,437
Households
1.4
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
1.0 sq mi
ZIP Area
22,755
Density / Sq Mi
$84,059
Median Household Income
$68,731
Median Earnings
$1,669
Median Rent
$573,700
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 units - The 1982-built commercial space is near downtown Portland transit and riverfront paths.
Where is this office units located?
The property is located at 600 NW Naito PKWY #D Portland, OR.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,270‑square‑foot office unit, identified as Unit D; Located in the McCormick Pier building at 600 NW Naito Parkway; Building constructed in 1982
