Manufacturing Facility in Eliot
For Sale
$950,000
Portland, OR 97227, Portland, OR 97227
Industrial property suitable for contractors and makers in Portland.
Property Size5,500 SF
Days on Market290
Property Features
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Industrial
Zoning
IG1
Building Details
Building Size
5,500 SF
Year Built
1924
Listing Agency:
Macadam Forbes
Listed By:
Tyler Collins · License #OR #201219113
(503) 416-0088
Source:
Macadamforbes
Added: Nov 25, 2025
Changed: Sep 4
Last Checked: Sep 10 at 6:00AM
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
Investment Insights
Based on property information with market context.
This property has historically functioned as a manufacturing facility. Its location and size make it suitable for small contractors and makers seeking a location in Portland. The property is situated in the Eliot neighborhood, within Portland's traditional industrial area, offering proximity to Interstate 5 and the Fremont Bridge. Zoning is IG1 - General Industrial 1. The property includes one grade-level door, five parking spaces located in the back alley, a small office, and a restroom. It features a clear height of 12 to 13 feet and 240/120v, 600 amp, 3-phase power.
Key Highlights
- High Power Capacity: 240/120v, 600 amp, 3 phase power is ideal for industrial equipment.
- Convenient Location: Close proximity to Interstate 5 and the Fremont Bridge provides easy access for transportation.
- Flexible Industrial Zoning: IG1 zoning allows for a wide range of industrial uses.
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
$34,521
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
3.63%
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%
$690,420
$690.4K
Cap Rate 7%
$493,157
$493.2K
Cap Rate 9%
$383,567
$383.6K
Market Conditions
NOI Build-Up for 5,500 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
$52.8K $9.60/SF
− Vacancy
−$3.5K −$0.63/SF
EGI
$49.3K $8.97/SF
− OpEx
−$14.8K −$2.69/SF
NOI
$34.5K $6.28/SF
Area
Portland, OR
Vacancy
6.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
30.00%
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%
$690,420
Cap Rate 7%
$493,157
Cap Rate 9%
$383,567
Alternative Uses
Best Use
Industrial
$493.2K
$431.5K – $575.4K
NOI $34,521 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,118 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,853
Businesses Nearby
Explore this area
Business Placement
Demographics for 97227, OR
6,058
Population
3,835
Households
1.6
Avg Household Size
35
Median Age
60%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
4,327
Density / Sq Mi
$79,161
Median Household Income
$56,098
Median Earnings
$1,609
Median Rent
$595,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial property suitable for contractors and makers in Portland.
Where is this manufacturing property located?
The property is located at Portland, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: High Power Capacity: 240/120v, 600 amp, 3 phase power is ideal for industrial equipment.; Convenient Location: Close proximity to Interstate 5 and the Fremont Bridge provides easy access for transportation.; Flexible Industrial Zoning: IG1 zoning allows for a wide range of industrial uses.
