524 Burnside StPortland, OR 97214

Property Details for 524 Burnside St

Year built

2008

Lot size

0.09 AC

Property size (Sq ft)

27,500 SF

Zone code

EXD

Property type

Office properties

Property subtype

Other office properties

APN

1N1E35CC 01700

APU

1N1E35CC01700

Description

This exceptional seven-story, 27,500-square-foot mixed-use building, located at 524 E Burnside St, Portland, OR 97214, presents a unique investment opportunity. The Class A creative office space boasts an award-winning design featuring concrete, steel, and glass construction. Multiple city rooms and bump-outs extend over the sidewalk, providing abundant natural light and stunning views. Currently 38.8% leased, the building offers flexible floor plates with demise options, allowing for customization to suit various tenant needs. Available spaces range from 1,345 to 3,782 square feet, all turnkey ready. The property presents significant potential for building signage and branding opportunities. Furthermore, the building's design allows for exploration of commercial condo conversion or other reuse opportunities. Recent lease extensions and expansions by a ground floor tenant demonstrate strong market demand. This property offers a rare combination of size, location, and design in a highly desirable Portland neighborhood, providing excellent walkability and convenient transit access. The building's uncompromising quality and design make it an attractive option for both buyers and tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $7,553,150

  6.5%

  $6,972,138

  7%

  $6,474,128

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,295,950

  Geo Method

  $5,295,950

• Alternative Use

  Use

  Valuation

  Residential

  $8,645,452

  Hospitality

  $7,919,188

  Educational

  $6,588,671

  Medical

  $6,815,266

  Retail

  $10,249,044

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5228

Longitude

-122.66

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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