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Modern Office Building with Views

4504 S Corbett Ave, Portland, OR 97239

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For Sale

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Office building with river and mountain views near downtown.

Type:Office

Property size:

15,720 SF

Price / SF:

$149/SF

HighLights

Excellent views of the Willamette River and Mount Hood.
Recent capital improvements: new roof and HVAC systems.
Modern design with large windows and excellent natural lighting.
Secure building with key card access, security alarm, and fire sprinkler system.
On‑site parking garage and available off‑site permit parking.
Minutes from downtown Portland with easy access to major routes (Barbur Blvd., I‑5, HWY 99).

We can help!

Contact an agent

Galen Graham

For Sale

Contact for pricing

Office building with river and mountain views near downtown.

Type:Office

Property size:

15,720 SF

Price / SF:

$149/SF

Added:: Sep 30, 2022
Days on Market:: 1376
Last Refresh:: Jun 24 at 5:02 pm

Property Features for 4504 S Corbett Ave

General Information

Standard status: Active
Size: 15,720 SF
Property subtype: Office

Building Details

Year Built: 1954

We can help!

Contact an agent

Galen Graham

Listing office Graham Realty Group LLC

Listing date Sep 30, 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 Graham Realty Group LLC

HighLights

Excellent views of the Willamette River and Mount Hood.
Recent capital improvements: new roof and HVAC systems.
Modern design with large windows and excellent natural lighting.
Secure building with key card access, security alarm, and fire sprinkler system.
On‑site parking garage and available off‑site permit parking.
Minutes from downtown Portland with easy access to major routes (Barbur Blvd., I‑5, HWY 99).

Overview

The Panorama Building is a modern office complex suitable for an owner-user or investment property. It features views of the Willamette River and Mount Hood, situated in a quiet neighborhood. The building has undergone recent capital improvements, including a new roof and HVAC systems throughout. Tenant improvements have been completed in 90% of the suites. The building is elevator-served and equipped with a fire sprinkler system, a security alarm system, and key card access available 24 hours per day. Additional amenities include a tenant break room, a shower suite, and an on-site parking garage, with off-site permit parking also available. Large windows enhance the neighborhood, Mount Hood, and Willamette River views, providing natural lighting. The Panorama Building is located minutes from downtown Portland, with easy access to Barbur Blvd., Interstate 5, and HWY 99.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$358.4k	$22.80
− Vacancy	−$87.1k	−$5.54
EGI	$271.3k	$17.26
− OpEx	−$67.8k	−$4.31
NOI	$203.5k	$12.94

15,720 SF · lease $22.80/SF/yr · vacancy 24.30% · expense 25.00%

Alternative Uses

Best Use

Office B

$2.91M

$2.54M – $3.39M (±1% cap)

NOI $203,491 @ 7.0% cap · market cap 8.66%

Second Best

—

no second resolved use

Theoretical Best

Office A

$4.41M

$3.86M – $5.15M (±1% cap)

NOI $309,019 @ 7.0% cap · market cap 13.15%

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

Property Profile Location Intelligence

Current Use by Public Records

Farmers Insurance Agent ... Insurance Agency Farmers Insurance - Michael ... Insurance Agency Doug Harness Insurance Insurance Agency Beard Paige Family Counselor Robert M Lusk ... Law Firm

Suggested Use

Location Insight

Map
Local Demand

City: Portland
County: Washington
State: Oregon
Longitude: -122.6759799
Latitude: 45.4906565

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For sale
Office buildings
OR
Portland
97239
4504 S Corbett Ave

What type of property is this?

Office building - Office building with river and mountain views near downtown.

Where is this office building located?

The property is located at 4504 S Corbett Ave Portland, OR.

What is the asking price?

The asking price for this property is $2,350,000.

What are key features of this property?

This property features: Excellent views of the Willamette River and Mount Hood.; Recent capital improvements: new roof and HVAC systems.; Modern design with large windows and excellent natural lighting.