Open Sat
$18,550,000
6.3% cap · 101,350 sq ft RBA · Class B
5644 SE Division St
Portland, OR 97210
Listed 6 weeks ago$183/sq ft
01 / 09
Price cut −10%For SaleOffice
$19,785,000
3377 SE Division St
Laurelhurst · Portland, OR 97203
$284/sq ft145 days on market3.5K views180 saves
Key facts
- Interior
- 69,660 sq ft
- Lot
- 2.11 acres
- Year built
- 1958
- Property type
- Office
- Price / sq ft
- $284/sq ft
- Annual taxes
- $207,740
- Days on market
- 145
Getting around
Walk Score57
Somewhat Walkable
Transit Score52
Good Transit
Bike Score68
Bikeable
About this property
A Full Service asset in Portland with real durability behind the rent roll. Fiber Connectivity is the differentiator in this submarket — very little competing product has it. Seller will consider a structured sale-leaseback.
Investment summary
Investment summary
Cap rate
7.10%
Net operating income ÷ price
Net operating income
$1,404,735
Annual, after operating expenses
Cash-on-cash
+4.3%
$256,481 annual cash flow on $5,935,500 equity
Occupancy72%
50,155 sq ft leased of 69,660 sq ft
- Tenants
- 14
- Rentable area
- 69,660 sq ft
- Price / sq ft
- $284/sq ft
- WALE
- 6.3 yrs
- Lease type
- Full Service
- Building class
- Class B
- Zoning
- B3-5
- Parking
- 251 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $1,148,254 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Outdoor
- Roof Deck Amenity
Parking & Access
- Freight Elevator
Highlights
- Fiber Connectivity
- LEED Gold Certified
- Opportunity Zone
- 24/7 Card Access
- Below-Market Rents
- Value-Add Upside
- Recent Capital Improvements
Price history
Every listing event recorded for this property.
- Listed
- Price cut
- Sold
| Date | Event | Price |
|---|---|---|
| 2023-02-06 | Sold | $15,932,000 |
| 2026-03-02 | Listed | $22,080,000 |
| 2026-04-22 | Price cut | $19,785,000 |
Location
Laurelhurst, Portland — Multnomah County
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Approximate location · Laurelhurst
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Estimated monthly
$122,087/mo
- Principal & interest81%$99,005
- Property tax14%$17,312
- Home insurance5%$5,771
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
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Loan amount $15,828,000 · 30 yr · 6.40%
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