Renovated Creative Space with
840 SE Washington St, Portland, OR 97214
For Sale
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Renovated creative space with warehouse in vibrant Central Eastside.
Property Size4,000 SF
Price / SF$323.75
Days on Market246
Property Features for 840 SE Washington St
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Occupancy
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Tenancy
Listing Agency:
Ethos Commercial Advisors
Listed By:
Dana Solof · License OR #201212599
Source:
Crexi
Added: Mar 13
Changed: Nov 9
Last Checked: Nov 12 at 5:53AM
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 Ethos Commercial Advisors
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Investment Insights
Based on property information with market context.
This renovated, approximately 4,000 square foot single-story building is located in Portland's Central Eastside Industrial District. Originally renovated in 2018 with seismic upgrades, a new roof, insulated ceiling, new windows, and new HVAC. The property also features updated office finishes, new flooring and paint, and demising for open and private office and conference or meeting rooms. Further improvements completed in 2025 include upgraded interior finishes, roller blinds, a security system, a sound system, a washer and dryer, a new sink, and privacy and anti-break film on all windows. The property combines refined office space with a functional warehouse and interior dock loading. The Central Eastside district is characterized by its distinctive blend of historic industrial architecture, creative industries, acclaimed dining, and proximity to downtown Portland and the waterfront.
Key Highlights
- Fully renovated +/-4,000 SF building in Portland's Central Eastside Industrial District.
- Combines refined office space with functional warehouse and interior dock loading.
- Prime location blocks from downtown Portland, near dining and the waterfront.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,000
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,000
$1.1M
Cap Rate 7%
$771,429
$771.4K
Cap Rate 9%
$600,000
$600.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$96.0K $24.00/SF
− Vacancy
−$9.6K −$2.40/SF
EGI
$86.4K $21.60/SF
− OpEx
−$32.4K −$8.10/SF
NOI
$54.0K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,000
Cap Rate 7%
$771,429
Cap Rate 9%
$600,000
Alternative Uses
Best Use
Mixed Use
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 4.17%
Second Best
Office B
$739.7K
$647.2K – $863.0K
NOI $51,779 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.12M
$982.9K – $1.31M
NOI $78,631 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,825
Businesses Nearby
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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
$733,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Portland, OR
Properties on Market for Mixed-use properties in Portland
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated creative space with warehouse in vibrant Central Eastside.
Where is this mixed-use property located?
The property is located at 840 SE Washington St Portland, OR.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Fully renovated +/-4,000 SF building in Portland's Central Eastside Industrial District.; Combines refined office space with functional warehouse and interior dock loading.; Prime location blocks from downtown Portland, near dining and the waterfront.
