Office

Commonwealth Building

commonwealth building, portland, OR 97204

Price

Price on request

Price/Sq Ft

$21.00

Description

The Commonwealth Building, built in 1948, was a revolutionary advance in modern architecture. The building, designed by world renowned architect Pietro Belluschi, is perhaps Portland’s most significant piece of commercial architecture, and was named as one of the fifty most significant buildings constructed in the United States during the 1900’s.

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

commonwealth building, portland, OR 97204

Leaflet © OpenStreetMap contributors

Financial Details

Lease TypeFull Service

Market Context

As of Q1 2026, the Portland office market showed a 27.1% vacancy rate, and average asking rents near $32.00/SF/yr. Source: multiple brokerages Q1 2026 market report.

Projected current pricing

indicative confidence

Projected asking rent

$32.00/SF/yr

Estimated sale value

$136–$230/SF

Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Portland office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent held flat).

View the full Portland Office market report →

Above-average vacancy gives tenants leverage and a wide set of comparables.

Compare it against other office listings for lease in Portland, OR to benchmark pricing and space — view the full market.

Office market FAQ

Is the Portland office market tightening or softening?: Vacancy is around 27.1% (Q1 2026).

Unified Estimate

Very Low Confidence

$16.17/SF/mo-$21.87/SF/mo

Mid: $19.02/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market salt-lake-city (similarity: 100%) with 17 comparable listings.

Lease Rate & Market Trend

Market report quarterly trend fallback

Low Confidence

Avg Rent ($/SF/mo) (market data)
Vacancy %

Market asking rent (quarterly avg)Vacancy rate (right axis)

Investment Analysis

Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.

Insufficient financial data for full analysis. Add more financial fields to improve metric coverage.