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    4504 Corbett Ave Portland, OR 97239

    Sponsored
    For Sale
    $2,600,000

    Multi-tenant office building, 100% occupied.

    Property size:
    15,720 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity: The Panorama Building, located at 4504 S Corbett Ave, Portland, OR 97239, presents a compelling opportunity for investors seeking a stabilized, multi-tenant office complex. This Class B, three-story building, totaling 15,720 square feet with 10,400 net rentable square feet, is currently 100% occupied by seven professional tenants. Originally constructed in 1954 and extensively renovated in 1985 (a complete studs-out renovation), the building boasts a modern design with stunning views of the Willamette River and Mount Hood. Recent capital improvements include a new roof, updated HVAC systems throughout, and tenant improvements in 90% of the suites. Amenities include an elevator, fire sprinkler system, security alarm, key card access, tenant break room, shower suite, on-site parking for 15 vehicles, and access to off-site permit parking. Large windows throughout maximize natural light and showcase the impressive views. The building's location offers convenient access to downtown Portland, Barbur Blvd, Interstate 5, and Highway 99. Leases are gross, all-inclusive, and feature a 5% annual rent increase. The asking price is $2,600,000 ($165.39/sq ft). This property is zoned for commercial use and is an excellent candidate for a 1031 exchange due to its stable occupancy, excellent condition, and recent capital and tenant improvements. The building is owned by DEC Morton Holdings and is being offered for sale by owner.

    Property Features for 4504 Corbett Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    15,720 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1954/1985
    Buildings
    1
    Stories
    3

    HighLights

    • Exceptional investment opportunity: 100% occupied, three‑story Class B office building totaling 15,720 square feet (10,400 net rentable) in Portland, OR.
    • Fully renovated in 1985, featuring a modern design with stunning views.
    • Recent capital improvements include a new roof and updated HVAC systems.
    • Amenities include an elevator, on‑site parking, and convenient access to major freeways and downtown Portland.
    • Gross leases with a 5% annual rent increase; asking price $2,600,000 ($165.39/sq ft).
    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 ... Attorney

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.67623775857
    Latitude
    45.490497181867

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    FAQs

    What type of property is this?
    Office Property / Space - Multi-tenant office building, 100% occupied.
    Where is this office property / space located?
    The property is located at 4504 Corbett Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 100% occupied, three-story Class B office building totaling 15,720 square feet (10,400 net rentable) in Portland, OR.; Fully renovated in 1985, featuring a modern design with stunning views.; Recent capital improvements include a new roof and updated HVAC systems.
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    4504 Corbett Ave Portland, OR 97239
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