Converted Office with Private
New
For Sale
$525,000
8040 SE CENTER St, Portland, OR 97206
CommercialSale, Portland, OR
Property Size3,122 SF
Lot Size0.14 Acres
Price / SF$168.16
Days on Market2
Property Features for 8040 SE CENTER St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CG
Directions
82nd Ave. W on Center St.
Subdivision
_143
Standard status
Active
APN
R199945
Size
3,122 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
LA DENE PK, BLOCK 1, LOT 6&7 TL 1100
Tax Annual Amount
6036
Legal Description
LA DENE PK, BLOCK 1, LOT 6&7 TL 1100
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Amenities
wood fireplace
fenced backyard
patio
Building Details
Year built
1930
Floors in Building
1
Roof type
Composition
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Joe Liu
(503) 200-8257
Added: Oct 14
Last Checked: Oct 15 at 9:06AM
MLS# 515689752
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.
Converted from a single-family residence, this office property contains 3,122 square feet on a 0.14-acre lot. Its layout includes a front reception and sitting area, a conference room with French doors, three private offices, a kitchen, and a full bathroom on the main level. High coved ceilings, African mahogany finishes, cathedral-style windows, and a wood fireplace with ceramic tilework contribute to the interior character. The basement is partially finished and includes an unfinished bathroom. Heating is hot water, and cooling is central air.
A fenced backyard with a patio provides outdoor space. The property is zoned CG and was built in 1930.
A fenced backyard with a patio provides outdoor space. The property is zoned CG and was built in 1930.
Key Highlights
- 3,122 square feet on a 0.14‑acre lot
- Three private offices, conference room, reception and sitting area
- Main‑level kitchen and full bathroom; unfinished bathroom in basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,413
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$808,260
$808.3K
Cap Rate 7%
$577,329
$577.3K
Cap Rate 9%
$449,033
$449.0K
Market Conditions
NOI Build-Up for 3,122 SF
Gross rent
$71.2K $22.80/SF
− Vacancy
−$17.3K −$5.54/SF
EGI
$53.9K $17.26/SF
− OpEx
−$13.5K −$4.31/SF
NOI
$40.4K $12.94/SF
Area
ZIP 97206
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%
$808,260
Cap Rate 7%
$577,329
Cap Rate 9%
$449,033
Alternative Uses
Best Use
Office B
$577.3K
$505.2K – $673.6K
NOI $40,413 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$876.7K
$767.1K – $1.02M
NOI $61,371 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
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 - Historic architectural details frame a reception area, conference room, three private offices, and a kitchen.
Where is this office building located?
The property is located at 8040 SE CENTER St Portland, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,122 square feet on a 0.14‑acre lot; Three private offices, conference room, reception and sitting area; Main‑level kitchen and full bathroom; unfinished bathroom in basement
