Historic Office Building
For Sale
Contact for pricing
920 SW 3rd Ave, Portland, OR 97204
Multiple office suites are available within a historic auditorium building in a downtown Central Business District setting.
Property Size18,808 SF
Days on Market172
Property Features for 920 SW 3rd Ave
General Information
Standard status
Active
Size
18,808 SF
Class
C
Property subtype
Office
Lease Term
Full Service
Site & Location
Neighborhood
Portland Downtown
Highway Access
Yes
Building Details
Building Size
18,808 SF
Year Built
1894
Tenancy
Multi
Properties For Sale
at 920 SW 3rd Ave Contact us1st Floor & Basement
Size
7,108 SF
Type
Office Building
Term
Negotiable
4th Floor
Size
3,934 SF
Type
Office Building
Term
Negotiable
Listing Agency:
Commercial Real Estate NW
Listed By:
Mick Griep
(503) 502-9676
Source:
Commercialrenw
Added: May 14
Changed: Oct 25
Last Checked: Nov 1 at 3:27AM
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 Commercial Real Estate NW
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Investment Insights
Based on property information with market context.
Multiple office suites are available for lease within the historic Auditorium Building in the Central Business District. One floor is currently available, offering flexible options for occupancy inside a landmark downtown structure.
The building is positioned in downtown Portland, within easy walking distance of a range of eclectic retail, pubs, theaters, and restaurants. It is also described as being in close proximity to major interstates, including I-5, I-84, and I-405.
Suites are offered within a historic, multi-tenant environment, giving tenants a choice of space within the same established building footprint.
The building is positioned in downtown Portland, within easy walking distance of a range of eclectic retail, pubs, theaters, and restaurants. It is also described as being in close proximity to major interstates, including I-5, I-84, and I-405.
Suites are offered within a historic, multi-tenant environment, giving tenants a choice of space within the same established building footprint.
Key Highlights
- Multiple office suites available for lease in the historic Auditorium Building
- Building was built in 1894
- Located in downtown Portland’s Central Business District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$243,464
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,869,280
$4.9M
Cap Rate 7%
$3,478,057
$3.5M
Cap Rate 9%
$2,705,156
$2.7M
Market Conditions
NOI Build-Up for 18,808 SF
Gross rent
$428.8K $22.80/SF
− Vacancy
−$104.2K −$5.54/SF
EGI
$324.6K $17.26/SF
− OpEx
−$81.2K −$4.31/SF
NOI
$243.5K $12.94/SF
Area
Portland, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,869,280
Cap Rate 7%
$3,478,057
Cap Rate 9%
$2,705,156
Alternative Uses
Best Use
Office B
$3.48M
$3.04M – $4.06M
NOI $243,464 @ 7.0% cap · market cap 2,028,866.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,723 @ 7.0% cap · market cap 3,081,025.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
11,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 97204, OR
1,001
Population
441
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
90%
High-School Grad
0.2 sq mi
ZIP Area
5,005
Density / Sq Mi
$16,875
Median Earnings
$783
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Office unit - Multiple office suites are available within a historic auditorium building in a downtown Central Business District setting.
Where is this office unit located?
The property is located at 920 SW 3rd Ave Portland, OR.
What are key features of this property?
This property features: Multiple office suites available for lease in the historic Auditorium Building; Building was built in 1894; Located in downtown Portland’s Central Business District
