Standalone Industrial
For Sale
Contact for pricing
8223 N Decatur St, Portland, OR 97203
Standalone industrial building and sizable CM3-zoned lot for contractor operations and potential future development.
Property Size9,500 SF
Lot Size29,000.00 Acres
Price / SF$188.95
Days on Market99
Property Features for 8223 N Decatur St
General Information
Standard status
Active
Size
9,500 SF
Lot size
29,000.00 Acres
Property subtype
Industrial
Zoning
CM3
Additional Details
Highway Access
Yes
Building Details
Year Built
1975
Tenancy
Single
Listing Agency:
Macadam Forbes
Listed By:
Tyler Dean · License #OR 200705002
(503) 972-7278
Source:
Crexi
Added: Jun 3
Changed: Aug 28
Last Checked: Sep 8 at 7:41AM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
This offering includes a 9,500 SF standalone industrial building suited to a contractor with a small fleet and outdoor storage needs. The property is complemented by a 29,000 SF CM3-zoned lot, providing room for expansion or future development opportunities.
Located in the St. Johns neighborhood of Portland, the site also features dynamic views of the St. Johns Bridge. Access to Portland is convenient, with Interstate 5 approximately 4 miles away, supporting practical connectivity for goods movement and daily operations.
For tenants, buyers, or operators looking for an industrial base with outdoor storage capability, the combination of a dedicated building and a CM3-zoned lot can support current work needs while keeping options open. The configuration is particularly relevant for small fleet use where space for vehicles and materials matters, with additional land area available through the existing zoning for later plans.
Located in the St. Johns neighborhood of Portland, the site also features dynamic views of the St. Johns Bridge. Access to Portland is convenient, with Interstate 5 approximately 4 miles away, supporting practical connectivity for goods movement and daily operations.
For tenants, buyers, or operators looking for an industrial base with outdoor storage capability, the combination of a dedicated building and a CM3-zoned lot can support current work needs while keeping options open. The configuration is particularly relevant for small fleet use where space for vehicles and materials matters, with additional land area available through the existing zoning for later plans.
Key Highlights
- 9,500 SF standalone industrial building (built in 1975) for contractor operations and outdoor storage needs
- 29,000 SF lot zoned CM3 for future development
- Located in the St. Johns neighborhood of Portland with views of the St. Johns Bridge
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
$72,404
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
4.03%
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%
$1,448,080
$1.4M
Cap Rate 7%
$1,034,343
$1.0M
Cap Rate 9%
$804,489
$804.5K
Market Conditions
NOI Build-Up for 9,500 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
$91.2K $9.60/SF
− Vacancy
−$6.0K −$0.63/SF
EGI
$85.2K $8.97/SF
− OpEx
−$12.8K −$1.34/SF
NOI
$72.4K $7.62/SF
Area
Portland, OR
Vacancy
6.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,448,080
Cap Rate 7%
$1,034,343
Cap Rate 9%
$804,489
Alternative Uses
Best Use
Warehouse
$1.03M
$905.1K – $1.21M
NOI $72,404 @ 7.0% cap · market cap 4.03%
Second Best
Industrial
$851.8K
$745.3K – $993.8K
NOI $59,627 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,748 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Stasher Luggage Storage — 7319 N John Ave, Portland, OR 97203
- Self Storage — 8195 n lombard st, portland, or 97203
- Northwest Self Storage — 8190 N Lombard St, Portland, OR 97203
Frequently Asked Questions
What type of property is this?
Warehouse - Standalone industrial building and sizable CM3-zoned lot for contractor operations and potential future development.
Where is this warehouse located?
The property is located at 8223 N Decatur St Portland, OR.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 9,500 SF standalone industrial building (built in 1975) for contractor operations and outdoor storage needs; 29,000 SF lot zoned CM3 for future development; Located in the St. Johns neighborhood of Portland with views of the St. Johns Bridge
