Single-Story Office
New
For Sale
$2,300,000
8129 SE Malden St, Portland, OR 97206
ADA-compliant office property with updated building systems, security improvements, and a fenced site.
Property Size13,440 SF
Lot Size1.08 Acres
Price / SF$171.13
Days on Market1
Property Features for 8129 SE Malden St
General Information
Standard status
Active
Size
13,440 SF
Lot size
1.08 Acres
Property subtype
Office
Additional Details
Cap Rate
9.84%
Amenities
ADA-compliant layout
secure fenced site
25+ Years of Government Occupancy: Purpose-built and occupied by the Oregon Department of Human Services since construction, demonstrating long-term institutional functionality.
Turnkey Building Improvements: New roof (2025), HVAC system (2024), and security camera upgrades reduce immediate capital expenditures.
Flexible Occupancy Options: Vacant possession creates an opportunity for immediate owner-user occupancy or lease-up to a long-term tenant.
Functional Institutional Design: Single-story, ADA-compliant layout with a secure fenced site and a 4.84/1,000 SF parking ratio supports a wide variety of office and service users.
Stable Replacement Demand: Well positioned for government agencies, healthcare providers, nonprofits, behavioral health groups, educational organizations, and adult care operators seeking functional operations
Building Details
Building Size
13,440 SF
Year Built
1999
Buildings
1
Stories
1
Listed By:
Demetri Garifalakis · License #License(s): WA: 25009651
(503) 200-2067
Source:
Marcusmillichap
Added: Sep 5
Last Checked: Sep 5 at 3:11PM
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 Demetri Garifalakis
Investment Insights
Based on property information with market context.
This single-story office building contains 13,440 square feet on a 1.08-acre parcel in Southeast Portland. The property features an ADA-compliant layout, a secure fenced site, and parking. Recent capital work includes replacement of the roof and HVAC system, along with security upgrades.
The building at 8129 SE Malden St was occupied by the Oregon Department of Human Services for more than 25 years. Its prior institutional use and existing configuration support consideration by government, healthcare, nonprofit, educational, and other service-oriented organizations. The property is offered for sale.
The building at 8129 SE Malden St was occupied by the Oregon Department of Human Services for more than 25 years. Its prior institutional use and existing configuration support consideration by government, healthcare, nonprofit, educational, and other service-oriented organizations. The property is offered for sale.
Key Highlights
- 13,440‑square‑foot single‑story office building
- Located on 1.08 acres in Southeast Portland
- ADA‑compliant layout
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
$173,977
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
7.56%
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%
$3,479,540
$3.5M
Cap Rate 7%
$2,485,386
$2.5M
Cap Rate 9%
$1,933,078
$1.9M
Market Conditions
NOI Build-Up for 13,440 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
$306.4K $22.80/SF
− Vacancy
−$74.5K −$5.54/SF
EGI
$232.0K $17.26/SF
− OpEx
−$58.0K −$4.31/SF
NOI
$174.0K $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 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%
$3,479,540
Cap Rate 7%
$2,485,386
Cap Rate 9%
$1,933,078
Alternative Uses
Best Use
Office B
$2.49M
$2.17M – $2.90M
NOI $173,977 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $264,200 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
557
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
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - ADA-compliant office property with updated building systems, security improvements, and a fenced site.
Where is this office building located?
The property is located at 8129 SE Malden St Portland, OR.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 13,440‑square‑foot single‑story office building; Located on 1.08 acres in Southeast Portland; ADA‑compliant layout
