Building Details

Buildings 1

Building Size 12,735 SF

Listing Agency: Portland

Listed By: Scott MacLean · License #960800284 Show Phone

Source: Colliers

Added: Aug 30 Changed: Oct 11 Last Checked: Oct 19 at 3:22AM

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Investment Insights

Based on property information with market context.

This flex property includes a 12,735-square-foot building on an 18,000-square-foot EX-zoned lot. Approximately 30 percent of the building is leased, while 8,375 square feet is vacant studio space. The property also includes a secured, fenced parking lot with partial lease occupancy.

The leased portion includes 3,820 square feet under lease through September 2027. The vacant studio area has visibility from SE 7th Avenue and can accommodate uses identified for the EX zone, including sales showroom, brewery, exercise studio, and production uses. EX zoning also permits a broad range of high-density commercial, institutional, and residential uses.

Key Highlights

• 12,735‑square‑foot building on an 18,000‑square‑foot EX‑zoned lot
• 8,375 square feet of vacant studio space
• Approximately 30 percent of the building is leased

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,566

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,051,320 $1.1M

Cap Rate 7%

$750,943 $750.9K

Cap Rate 9%

$584,067 $584.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 8,375 SF

Gross rent

$80.4K $9.60/SF

− Vacancy

−$5.3K −$0.63/SF

EGI

$75.1K $8.97/SF

− OpEx

−$22.5K −$2.69/SF

NOI

$52.6K $6.28/SF

Area

Portland, OR

Vacancy

6.60%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,051,320

Cap Rate 7%

$750,943

Cap Rate 9%

$584,067

Alternative Uses

Best Use

Retail

$1.39M

$1.22M – $1.63M (±1% cap)

NOI $97,611 @ 7.0% cap · market cap 1,165.50%

Second Best

Flex RnD

$1.22M

$1.06M – $1.42M (±1% cap)

NOI $85,053 @ 7.0% cap · market cap 1,015.56%

Theoretical Best

Office A

$2.35M

$2.06M – $2.74M (±1% cap)

NOI $164,633 @ 7.0% cap · market cap 1,965.77%

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

Bold Reuse Distribution Center

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Tanning Salon Pet Grooming Service Mobile Phone Store Veterinary Clinic Supermarket

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

30%

Occupancy

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

4,825

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 97214, OR

28,403

Population

15,948

Households

1.8

Avg Household Size

36

Median Age

67%

College-Educated

98%

High-School Grad

2.9 sq mi

ZIP Area

9,794

Density / Sq Mi

$86,879

Median Household Income

$55,643

Median Earnings

$1,628

Median Rent

$733,200

Median Home Value

Market

Vacancy Rate% for Industrial in Portland, OR

3.4% 2019

4.1% 2020

2.5% 2021

2.1% 2022

4.2% 2023

5.5% 2024

6.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - EX-zoned property combines leased occupancy, secured parking, and adaptable commercial space near SE 7th Avenue.

Where is this flex space located?

The property is located at 712 SE 7th Ave Portland, OR.

What are key features of this property?

This property features: 12,735‑square‑foot building on an 18,000‑square‑foot EX‑zoned lot; 8,375 square feet of vacant studio space; Approximately 30 percent of the building is leased