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    Creative Space in Historic Building Title is generated by Realmo AI

    2715 SE 8th Avenue, Portland, OR 97202

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    Unique creative spaces with modern design in SE Portland.

    Type:Office
    Added:
    Oct 16, 2022
    Days on Market:
    1330
    Last Refresh:
    May 12 at 10:52 pm

    Property Features for 2715 SE 8th Avenue

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2017

    Spaces For Lease

    at 2715 SE 8th Avenue Contact us

    Suite 116 $24/Mo

    Size
    1,131 SF
    Type
    Office
    $24.00 SF/yr
    Contact us

    Suite 145 $22/Mo

    Size
    1,887 SF
    Type
    Office
    $22.00 SF/yr
    Contact us

    Suite 165 $27/Mo

    Size
    632 SF
    Type
    Office
    $27.00 SF/yr
    Contact us

    Suite 171 $22/Mo

    Size
    2,148 SF
    Type
    Office
    $22.00 SF/yr
    Contact us

    Basement Studio 2 $24/Mo

    Size
    209 SF
    Type
    Office
    $24.00 SF/yr
    Contact us

    Basement Studio 3 $24/Mo

    Size
    450 SF
    Type
    Office
    $24.00 SF/yr
    Contact us

    Basement Studio 4 $24/Mo

    Size
    330 SF
    Type
    Office
    Lease Ratet$24.00 SF/yrnLease TermtNegotiable
    Contact us
    Show more

    We can help!

    Listing Contact
    Rod Brokenshire

    Listing agent Rod Brokenshire License #OR

    Listing office Macadam Forbes

    Listing date Oct 16, 2022

    Source Crexi

    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

    HighLights

    • Unique, creative spaces with modern design.
    • Located in the desirable Hosford‑Abernethy Neighborhood.
    • Historic industrial building.
    • Very Walkable location (Walk Score 89).
    • Good Transit options (Transit Score 69).
    • Built in 2017.

    Overview

    The Dairy Building, locally owned by Intrinsic Ventures, provides distinctive creative spaces featuring modern design within a historic industrial structure. Situated in the Hosford-Abernethy Neighborhood of Southeast Portland, the location offers an urban-suburban atmosphere where homeownership is common. The area is well-served by a variety of restaurants, bars, coffee shops, and parks. The property benefits from a Very Walkable score of 89 and a Good Transit score of 69.
    Property Profile Location Intelligence

    Current Use by Public Records

    Crux Fermentation Project Production Facility Lot #5 Parking Lot & Garage Rocsys Inc Industrial Manufacturer Reef Kitchens Restaurant Krispy Rice Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6582819
    Latitude
    45.5036511

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    FAQs

    What type of property is this?
    Creative space - Unique creative spaces with modern design in SE Portland.
    Where is this creative space located?
    The property is located at 2715 SE 8th Avenue Portland, OR.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Unique, creative spaces with modern design.; Located in the desirable Hosford‑Abernethy Neighborhood.; Historic industrial building.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Rod Brokenshire
    Real Estate License ID: OR
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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