Vintage Industrial Building
For Sale
Contact for pricing
61 SE Yamhill St, Portland, OR 97214
Rare industrial building in Portland's Central Eastside neighborhood.
Property Size10,000 SF
Price / SF$300
Days on Market756
Property Features for 61 SE Yamhill St
General Information
Standard status
Active
Size
10,000 SF
Class
A
Property subtype
Industrial
Zoning
IG1
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1935
Year Renovated
2009
Buildings
1
Stories
1
Listing Agency:
Cascade Commercial Real Estate
Listed By:
Todd DeNeffe · License #OR
Source:
Crexi
Added: Jul 26, 2024
Changed: Aug 13
Last Checked: Aug 13 at 11:33AM
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 Cascade Commercial Real Estate
Investment Insights
Based on property information with market context.
This vintage industrial building is located in Portland’s Central Eastside, a diverse and growing neighborhood that supports over 1,000 companies and 15,000 jobs. The property totals 10,000 square feet and previously housed a brewery. It features 3,000 square feet of bar/tasting room space with seating for up to 100, a kitchen with a Type 1 hood and grease trap, full HVAC, and fixtures. The production and storage/distribution space measures 7,000 square feet and includes 500 amps of 3-phase power, 18-foot ceilings, a new insulated roof, a small office, and two grade doors. Two ADA bathrooms are present, along with a small office/bathroom and living space adjacent to the tasting room. Brewing equipment, including tanks, is negotiable with a sale or lease. Paid parking is available adjacent to the property for up to 12 spaces, and on-street parking is readily available. The property is the first building visible when exiting Interstate 5 into the eastside, providing excellent access to downtown and major freeways. A Live Nation concert/music venue with a capacity of 3,500 people is under construction two blocks away and is scheduled to host over 100 shows a year starting in early 2027. The annual taxes are $15,025. Incentives may be available through Prosper Portland for businesses locating in this Urban Renewal/TIF area, based on investment and job creation.
Key Highlights
- Located in the Central Eastside, a robust and growing economic hub.
- Includes a 3000 sq ft bar/tasting room (seating up to 100) with a kitchen.
- Features 7000 sq ft of production/storage space with 500 amps of 3‑phase power and 18’ ceilings.
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
$134,640
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
4.49%
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%
$2,692,800
$2.7M
Cap Rate 7%
$1,923,429
$1.9M
Cap Rate 9%
$1,496,000
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$192.0K $19.20/SF
− Vacancy
−$12.5K −$1.25/SF
EGI
$179.5K $17.95/SF
− OpEx
−$44.9K −$4.49/SF
NOI
$134.6K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,692,800
Cap Rate 7%
$1,923,429
Cap Rate 9%
$1,496,000
Alternative Uses
Best Use
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,640 @ 7.0% cap · market cap 4.49%
Second Best
Industrial
$896.6K
$784.6K – $1.05M
NOI $62,765 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,577 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Rare industrial building in Portland's Central Eastside neighborhood.
Where is this brewery located?
The property is located at 61 SE Yamhill St Portland, OR.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Located in the Central Eastside, a robust and growing economic hub.; Includes a **3000 sq ft bar/tasting room (seating up to 100)** with a kitchen.; Features **7000 sq ft of production/storage space** with 500 amps of 3‑phase power and 18’ ceilings.
