Listed by Ethos Commercial Advisors, Ethos Commercial Advisors LLC Portland
$4,000,000
The Dairy Building
Details
Property Type Industrial, Office
Sub Type Creative Office, Distribution
Units 17
Cap Rate 13.98%
NOI $559,000
Occupancy 82%
Tenancy Multi
Lease Type NNN
Year Built 1937
Year Renovated 2017
Acreage 2.500
Zoning IG1 – General Industrial 1
Parking Spaces 160 spaces
Investment Type Net Lease
Ground Lease Yes
Ceiling Height 14'-22'
Dock High Doors 4
Sale Condition Distressed
Leased Creative Industrial Asset on 2.5-Acres in Central Eastside
Marketing description
Ethos Commercial Advisors LLC, as executive advisor, is please to present to qualified investors the opportunity to acquire the leasehold interest in the Dairy Building, a fully repositioned, gut-renovated, income-producing creative maker and industrial asset with a long-term ground lease in Portland's Central Eastside. Located on 2.5 acres, the Dairy Building is a distinctive adaptive reuse project that blends architectural authenticity with modern functionality. Once a traditional operating dairy, it now serves as a vibrant hub for creative office, retail, light industrial, and maker tenants the property blends preserved industrial architecture with modern functionality and premium tenant amenities.
The building features flexible suites with bow truss ceilings up to 25 feet, polished concrete floors, skylights, and upgraded systems including LED lighting and fiber internet. Common areas include a central event space, conference room, and call rooms, supporting a dynamic tenant mix of creative office, retail, and maker uses.
With a strong leasing history, long-term potential through fee acquisition, future renovations of the tower, and development of the excess land, the Dairy Building is well-positioned for immediate and sustained value.
Investment highlights
- Dynamic common area spaces with skylights
- Shared building kitchen, conference rooms, phone booths
- Common area restrooms with showers
- Expansive ceiling heights ranging from 14'-22'
- Glass roll-up doors
- Indoor bike storage
- Secure parking lot
- 4 shared dock-high ramps
Listing Contacts
Listed by Ethos Commercial Advisors, Ethos Commercial Advisors LLC Portland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$559,000.00
$46,583.33/mo
Valuation Metrics
0
DSCR
13.98%
Cap Rate
13.98%
ROI
Map
Zoning
IG1 IndustrialGeneral Industrial 1
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View all 30 uses
View all 30 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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