Creative Space in Brick
New
For Sale
$475,000
600 NW NAITO Pkwy, Portland, OR 97209
CommercialSale, Portland, OR
Property Size1,270 SF
Price / SF$374.02
Days on Market2
Property Features for 600 NW NAITO Pkwy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RX
Directions
Naito Pkwy Between Steel and Broadway Bridges Commercial bldg unit D
Subdivision
_148
Standard status
Active
APN
R538119
Size
1,270 SF
Taxes and HOA fees
Tax Description
MC CORMICK PIER CONDOMINIUM, LOT D
Tax Annual Amount
6264
Legal Description
MC CORMICK PIER CONDOMINIUM, LOT D
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1982
Floors in Building
1
Building materials
Brick, Concrete
Roof type
Built-Up, Flat
Listing Agency:
Oregon First
(503) 646-5006
Listed By:
Vijay Gopalswamy · License #200901056
(503) 481-7555
Added: Oct 9
Last Checked: Oct 10 at 8:06AM
MLS# 524306994
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Unit D is a 1,270-square-foot creative space in McCormick Pier, a brick and concrete building completed in 1982. The unit has central air conditioning and forced-air heating, with a built-up flat roof above. The property is zoned RX.
The address is on NW Naito Parkway, near the Willamette River Greenway Trail, downtown Portland, the Pearl District, and Old Town. Union Station and MAX light rail are also nearby, along with restaurants, shops, and residential areas. Parking at the complex includes covered and deeded options.
The address is on NW Naito Parkway, near the Willamette River Greenway Trail, downtown Portland, the Pearl District, and Old Town. Union Station and MAX light rail are also nearby, along with restaurants, shops, and residential areas. Parking at the complex includes covered and deeded options.
Key Highlights
- 1,270 square feet in Unit D at McCormick Pier
- RX zoning
- Brick and concrete construction; built 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.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
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
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - RX-zoned Unit D has central air, forced-air heat, and access to covered and deeded parking at the complex.
Where is this creative space located?
The property is located at 600 NW NAITO Pkwy 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 feet in Unit D at McCormick Pier; RX zoning; Brick and concrete construction; built in 1982
