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    Sustainably Renovated Office Building Title is generated by Realmo AI

    819 SE Morrison St, Portland, OR 97214

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    Professional office space in Portland's Innovation Quadrant.

    Type:Office
    Property size:
    18,500 SF
    Added:
    Jan 25, 2022
    Days on Market:
    1592
    Last Refresh:
    May 12 at 10:58 pm

    Property Features for 819 SE Morrison St

    General Information

    Standard status
    Active
    Size
    18,500 SF
    Property subtype
    Office

    Spaces For Lease

    at 819 SE Morrison St Contact us

    Suite 320 $16/Mo

    Size
    1,652 SF
    Type
    Office
    Experience a unique work environment in this top floor office withnvaulted ceilings,...
    show more
    Contact us

    Suite 335 $16/Mo

    Size
    2,287 SF
    Type
    Office
    Experience a unique work environment in this top floor corner office withnvaulted...
    show more
    Contact us

    Suite 325 $16/Mo

    Size
    2,682 SF
    Type
    Office
    Experience a unique and spacious work environment with this loft-style office suite...
    show more
    Contact us

    Suite #215 $12/Mo

    Size
    817 SF
    Type
    Office
    Everest Building's Suite #215 has two private offices or a single private office...
    show more
    Contact us

    Suite #115 $16/Mo

    Size
    2,474 SF
    Type
    Office
    This professional / medical suite has a reception area, 6 private rooms, sinks, and...
    show more
    Contact us

    Suite #240 $16/Mo

    Size
    768 SF
    Type
    Office
    Suite 240 is a professional office space featuring an open reception area with luxury...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Matt Schweitzer

    Listing agent Matt Schweitzer License #940600121

    Listing office North Rim Commercial Properties

    Listing date Jan 25, 2022

    Source Crexi

    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 North Rim Commercial Properties

    HighLights

    • Prime location in Portland's Innovation Quadrant, near downtown and freeways, with excellent Walk and Bike Scores.
    • Sustainably renovated building featuring high‑efficiency systems and LED lighting.
    • Enjoy comprehensive amenities including ADA access, elevator, Wi‑Fi, guest parking, bike parking, and commuter showers.
    • Shared conference room equipped with a flat screen monitor and kitchenette.
    • Benefit from 24/7 secure building access.
    • Conveniently located near public transportation and amenities like Market of Choice, restaurants, and bars.

    Overview

    The Everest Building offers 18,500 square feet of professional office space across three floors. Located in the Innovation Quadrant of Southeast Portland, at the east end of the Morrison Bridge, the building is near Trimet bus lines and close to downtown bridges, I-5, and I-84. The building features ADA access, elevator service to all floors, Wi-Fi, ADA and guest garage parking, bike parking, and commuter shower facilities. A furnished lobby, shared conference room with a flat screen monitor and kitchenette, and 24/7 secure building access are also available. The building was sustainably renovated with LED lighting and high-efficiency mechanical and plumbing systems. Nearby amenities include Market of Choice, Grand Central Bowl, and various local restaurants and bars. The location is one block from the newly-redeveloped Goat Blocks, with a Walk Score of 92 and a Bike Score of 95.
    Property Profile Location Intelligence

    Current Use by Public Records

    Avalon Natural Medicine ... Medical Clinic Kelly D. Jones Law Firm Pekelder Ruth E Law Firm Justin Long Alternative Medicine Practice Hannah Grice Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Restaurant Hair Salon Nail Salon Law Firm Building Supply Pharmacy Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6574473
    Latitude
    45.517447

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    FAQs

    What type of property is this?
    Office building - Professional office space in Portland's Innovation Quadrant.
    Where is this office building located?
    The property is located at 819 SE Morrison St Portland, OR.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Prime location in Portland's Innovation Quadrant, near downtown and freeways, with excellent Walk and Bike Scores.; Sustainably renovated building featuring high‑efficiency systems and LED lighting.; Enjoy comprehensive amenities including ADA access, elevator, Wi‑Fi, guest parking, bike parking, and commuter showers.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Schweitzer
    Real Estate License ID: 940600121
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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