Standalone Office Building in
1224 Southeast Oak Street Portland, OR 97214
1224 Southeast Oak Street, Portland, OR, 97214
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For Sale
Contact for pricing
Office building in Southeast Portland with open floor plan.
Property Size10,800 SF
Price / SF$310.19
Days on Market998
Property Features for 1224 Southeast Oak Street
General Information
- Standard status
- Active
- Size
- 10,800 SF
- Property subtype
- Office
Building Details
- Year Built
- 2007
Listing agency
Macadam Forbes
Listed by
Tyler Collins · License #OR
Source
Crexi
Added: Oct 28, 2023 Updated: Jul 10 at 3:42PM Checked: Jul 21 at 5:20AM
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 is a standalone office building located in the Buckman neighborhood in inner Southeast Portland. The Buckman neighborhood is a historic district known for its vibrant and eclectic atmosphere with a unique blend of residential and commercial areas frequented by locals and tourists alike. The property features newer construction with open floor plans, a roll-up door, and off-street parking. The building has a total size of 10800 square feet. Formerly used in the cannabis business, the property contains all the infrastructure for a grow operation. The building is in great condition and could be converted to office or clinical use.
Key Highlights
- Stand‑alone office building in the heart of Southeast Portland.
- Newer construction (built in 2007) with open floor plans.
- Off‑street parking.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $246.2k | $22.80 |
| − Vacancy | −$59.8k | −$5.54 |
| EGI | $186.4k | $17.26 |
| − OpEx | −$46.6k | −$4.31 |
| NOI | $139.8k | $12.94 |
10,800 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.33M
NOI $139,803 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.03M
$2.65M – $3.54M
NOI $212,303 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Office building in Southeast Portland with open floor plan.
Where is this office building located?
The property is located at 1224 Southeast Oak Street Portland, OR.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Stand‑alone office building in the heart of Southeast Portland.; Newer construction (built in 2007) with open floor plans.; Off‑street parking.
