Class A Office
9500 NE Cascades Pkwy, Portland, OR 97220
Class A office building in desirable Airport Way submarket.
Type:Office
Property size:
35,000 SFPrice / SF:
$187/SF- Added:
- Nov 25, 2025
- Days on Market:
- 177
- Last Refresh:
- Apr 5 at 8:28 pm
Property Features for 9500 NE Cascades Pkwy
General Information
- Standard status
- Active
- Size
- 35,000 SF
- Property subtype
- Office
Listing agent McCoy Doerrie, SIOR (503) 517-7120
Listing office (503) 517-7120
Listing date Nov 25, 2025
Source Corfac
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 McCoy Doerrie, SIOR
HighLights
- Class A building in a desirable Airport Way submarket.
- Vacant owner/user purchase opportunity.
- Minutes from PDX International Airport and I‑205.
- Part of a larger development with hotels, retail, and dining options.
- LEED Gold Certified, promoting sustainability.
- Mechanical systems are in good working order.
Overview
Located in the desirable Airport Way submarket of Portland, CASCADE STATION is a Class A building that is part of a larger centrally located development. The development includes office and flex space, world-class hotels, destination retail, and dining options. The property is minutes from the newly remodeled PDX International Airport and I-205. This is the first time Cascade Station II has been available for sale as a vacant owner/user purchase opportunity. The building is less than 15 years old and has been lightly used, with all mechanical systems in good working order. This LEED Gold Certified location could be a business headquarters.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$5.03M
NOI $453,065 @ 9.00% cap · cautious / downside scenario
Moderate
$6.47M
NOI $453,065 @ 7.00% cap · market / base-case scenario
Aggressive
$9.06M
NOI $453,065 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $798.0k | $22.80 |
| − Vacancy | −$193.9k | −$5.54 |
| EGI | $604.1k | $17.26 |
| − OpEx | −$151.0k | −$4.31 |
| NOI | $453.1k | $12.94 |
35,000 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$6.47M
$5.66M – $7.55M
NOI $453,065 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.83M
$8.60M – $11.47M
NOI $688,020 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Vetsource
Corporate Office
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.565
- Latitude
- 45.575
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Class A office building in desirable Airport Way submarket.
Where is this office building located?
The property is located at 9500 NE Cascades Pkwy Portland, OR.
What is the asking price?
The asking price for this property is $6,562,500.
What are key features of this property?
This property features: Class A building in a desirable Airport Way submarket.; Vacant owner/user purchase opportunity.; Minutes from PDX International Airport and I‑205.
