Office for Sale in Portland, OR

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Portland, OR 97210
  • Year built: 1976

Description

The Hefner Team is pleased to present the unique investment opportunity located at 2330 NW 31st Avenue, Portland, Oregon in the Northwest Industrial District. This nearly 20,000 SF industrial flex property features new second story creative office space and is strategically located in a highly sought-after submarket with a history of low vacancies. Renovations include a second-story office addition with seismic retrofitting, custom soundproofing, large bay doors and a powerful 2,400-amp 3-phase electrical system. A fenced and gated parking area ensures secure, convenient access for staff and clients. Given its versatile layout, specialized infrastructure, and location within a high-demand submarket, this creative/maker/industrial asset presents a compelling investment opportunity with future upside in one of Portland’s most dynamic commercial corridors. Investment Highlights: • Fully Renovated Creative/Flex Space with Soundproofing, Updated Individual HVAC Systems in All Units, and Second Story Creative Office • One Ramped Access and One Dock-High 10' x 12' Roll-Up Door • 2,400-Amp 3-Phase Electrical Capacity • Ideal for Media Production - Zoned IH (Heavy Industrial), Multiple Conditional Uses Currently Utilized, Including Office • Secure Fenced and Gated Parking • Excellent Access To US-30 and I-405 - 10 Minutes to Downtown

Market Context

This office in Portland, OR is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1976. It has been on the market for 68 days. Compare it against other office listings for sale in Portland, OR — <a href="/search/sale/office/oregon/portland">view the full market</a>.

As of Q1 2026, the Portland office market showed a 27.1% vacancy rate, average asking rents near $32.00/SF/yr, and rents up 4.8% year over year. Source: Consensus Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

Is the Portland office market tightening or softening?
Vacancy is around 27.1%, with asking rents rising year over year (Q1 2026).

Unified Estimate

Very Low Confidence

$26.44/SF – $35.77/SF

Mid: $31.11/SF

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 3 comparable listings.

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