Six-Suite Flex
New
For Sale
$4,350,000
8411 N DENVER AVE, Portland, OR 97217
Separate bay doors and a dedicated parking area support varied commercial operations.
Property Size19,100 SF
Days on Market3
Property Features for 8411 N DENVER AVE
General Information
Standard status
Active
Size
19,100 SF
Total Parking Spaces
15
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,562
Amenities
bay doors
Building Details
Building Size
19,100 SF
Year Built
1958
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams PDX Central
Listed By:
Kaya Liden
(503) 847-5903
Source:
Eleeterealestate
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 9:58AM
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 Keller Williams PDX Central
Investment Insights
Based on property information with market context.
This 19,100-square-foot flex property contains six suites, each with its own bay door. Built in 1958, the building also has a dedicated parking lot with approximately 15+ spaces. A separate lot sits behind the building, providing additional land area.
The suite layout allows an owner to use some or all of the space while leasing other suites. Retail, office, distribution, and manufacturing are among the uses that could be explored, subject to zoning, permits, and required governmental approvals. Food-cart use and redevelopment, including multifamily, would also require independent review and approvals; no particular use or redevelopment outcome is assured.
The suite layout allows an owner to use some or all of the space while leasing other suites. Retail, office, distribution, and manufacturing are among the uses that could be explored, subject to zoning, permits, and required governmental approvals. Food-cart use and redevelopment, including multifamily, would also require independent review and approvals; no particular use or redevelopment outcome is assured.
Key Highlights
- Six‑suite flex property
- 19,100 square feet
- Six bay doors, one for each suite
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
$193,972
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
4.46%
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%
$3,879,440
$3.9M
Cap Rate 7%
$2,771,029
$2.8M
Cap Rate 9%
$2,155,244
$2.2M
Market Conditions
NOI Build-Up for 19,100 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
$320.9K $16.80/SF
− Vacancy
−$22.5K −$1.18/SF
EGI
$298.4K $15.62/SF
− OpEx
−$104.4K −$5.47/SF
NOI
$194.0K $10.16/SF
Area
Portland, OR
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$3,879,440
Cap Rate 7%
$2,771,029
Cap Rate 9%
$2,155,244
Alternative Uses
Best Use
Flex RnD
$2.77M
$2.42M – $3.23M
NOI $193,972 @ 7.0% cap · market cap 4.46%
Second Best
Warehouse
$2.08M
$1.82M – $2.43M
NOI $145,570 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$5.36M
$4.69M – $6.26M
NOI $375,463 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Portland, OR
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Frequently Asked Questions
What type of property is this?
Flex space - Separate bay doors and a dedicated parking area support varied commercial operations.
Where is this flex space located?
The property is located at 8411 N DENVER AVE Portland, OR.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Six‑suite flex property; 19,100 square feet; Six bay doors, one for each suite
