- For Sale $6,900,000
- Property Type Office
- Property Size 25,884 SF
- Year Built 2007
- Date Updated Aug 11, 2025
An immediate opportunity exists to acquire a 25,884 SF commercial
condominium comprised of the top two floors of Portland’s DeSoto
Building, home to LRS Architects since 2007. With just over two years
remaining on the LRS lease, a new owner will have the option to either
pursue a renewal of lease with LRS Architects, re-lease to a different
tenant, or alternatively utilize the space itself as an owner-user in fall
of 2027. Regardless of what direction a new owner decides to take in
the future, however, they will do so enjoying an immediate 11.55% cap
rate return for the next two years.
Opened in 2007 as one of Portland’s most successful adaptive re-use
projects and spectacular commercial condominiums, the DeSoto
Building has enjoyed little turnover in ownership in its nearly 20 years
of operation. The owner's association holds 51% building ownership,
which gives majority control of condominium association. With only five
other owners comprising the owner’s association (including a museum,
photography studio, and two galleries), the DeSoto Building provides
a terrific investment that’s easy to operate.
Reach out to the broker for more info on lease terms and amenities
False
Contacts
Location
Getting Around
-
Walk Score ®
100/100
Walker's Paradise
-
Transit Score ®
94/100
Rider's Paradise
-
Bike Score ®
99/100
Biker's Paradise
- City Portland, OR
- Neighborhood The Pearl
- Zip Code 97209
- Market Portland
Points of Interest
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Northwest 5th & Couch
0.13 miles
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Northwest 10th & Couch
0.15 miles
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Union Station/Northwest 6th & Hoyt
0.20 miles
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Northwest 11th & Glisan
0.26 miles
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Southwest 10th & Alder
0.31 miles
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Southwest 11th & Alder
0.31 miles
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Northwest 10th & Johnson
0.33 miles
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Galleria/Southwest 10th Avenue
0.35 miles
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Northwest 11th & Johnson
0.37 miles
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Library/Southwest 9th Avenue
0.39 miles
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Chevron
0.19 miles
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Blink
0.40 miles
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Tesla Supercharger
0.42 miles
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PGE Electric Avenue Downtown Portland
0.60 miles
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ChargePoint
0.90 miles
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Shell
0.91 miles
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Astro
0.92 miles
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Pacific Pride
1.02 miles
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Kwik-Gas
1.07 miles
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EVgo
1.07 miles
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U-Park
0.10 miles
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Broadway Garage
0.14 miles
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City Center Parking
0.16 miles
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PMC
0.18 miles
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Pearl Auto Park
0.22 miles
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Hampton
0.11 miles
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Harlow Hotel
0.15 miles
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the Hoxton
0.17 miles
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The Benson
0.18 miles
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Canopy by Hilton Portland Pearl District
0.18 miles
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Courtyard
0.21 miles
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The Society
0.22 miles
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Hotel Lucia
0.22 miles
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Ace Hotel
0.23 miles
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Oakwood
0.23 miles
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Cadejo Coffee
0.07 miles
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Sushi Ichiban
0.07 miles
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John's Cafe
0.07 miles
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Stone Soup
0.08 miles
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Fuller's
0.09 miles
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Eleni's Philoxenia
0.09 miles
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Butterfly Belly Asian Cuisine
0.11 miles
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#1 Bento
0.11 miles
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Santeria
0.11 miles
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Farmhouse Kitchen
0.11 miles
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Pacific Northwest College of Art - Schnitzer Center
0.19 miles
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Portland Institute for Contemporary Art
0.24 miles
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Pacific University
0.31 miles
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Willamette University
0.45 miles
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Cathedral School
0.47 miles
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NW Film Center
0.51 miles
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Le Monde
0.56 miles
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Skybridge International
0.60 miles
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Lincoln High School
0.71 miles
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Metropolitan Learning Center
0.76 miles
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Joyful Noise
0.39 miles
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Moda Tower Child Development Center
0.43 miles
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The Children's Garden
0.45 miles
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Saint James Child Development Center
0.66 miles
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KinderCare
0.72 miles
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Chapman Elementary School @ The Ramona
0.74 miles
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Helen Gordon Child Development Center
0.83 miles
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MetroKids Playground
0.92 miles
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Fruit & Flower
1.08 miles
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Escuela Viva
1.18 miles
Frequently Asked Questions
The space currently listed for sale at DeSoto Building asks for $6,900,000.
DeSoto Building totals 25,884 square feet.
DeSoto Building was built in 2007.
Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.
Kidder Mathews
