The Water Tower

5331 SW Macadam Avenue, Portland, OR 97239

  • For Lease Contact for pricing
  • Property Type Office - General Office
  • Property Size 114,976 SF
  • Lot Size 3.66 Acre
  • Parking Spaces Avail. 425
  • Parking Ratio 3.70 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1903
  • Date Updated May 13, 2025

The Water Tower is a 114,976-square-foot office building set on a 3.66-acre lot at 5331 SW Macadam Avenue. Built in 1903, this Class B property offers 425 parking spaces with a parking ratio of 3.7 per 1,000 square feet, ensuring ample parking capacity for tenants and visitors. The building’s spacious design and convenient parking make it well-suited for businesses seeking a functional workspace in the Corbett - Terwilliger - Lair Hill neighborhood.

The surrounding area features an array of amenities and points of interest. Dining options are abundant, including Szechuan Chef and Elephants on Corbett, both within approximately 0.1 miles. River's Edge Hotel is also close by, just 0.43 miles away, offering convenient accommodations for out-of-town clients or team members. Public transportation access is available at Bancroft Street Station, approximately 0.6 miles from the building, enhancing connectivity to the city. Nearby educational institutions such as Oregon Health & Science University and Portland State University add further appeal to the location.

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Spaces Available

Contacts

broker
J.T. Sand Is this you?

Colliers

Location

Getting Around

  • Walk Score ®

    77/100 Very Walkable

  • Transit Score ®

    53/100 Good Transit

  • Bike Score ®

    98/100 Biker's Paradise
Powered by Walk Score ®
  • City Portland, OR
  • Neighborhood Corbett - Terwilliger - Lair Hill
  • Zip Code 97239
  • Market Portland

Points of Interest

  • Bancroft Street

    0.62 miles

  • Marquam Hill

    1.12 miles

  • Oaks Park

    1.13 miles

  • Southeast Water/OMSI

    1.67 miles

  • PSU South/Southwest 5th & Jackson

    1.74 miles

  • Southeast Martin Luther King & Mill

    1.87 miles

  • Southeast Grand & Mill

    1.91 miles

  • PSU Urban Center

    1.94 miles

  • Southwest Market & Park

    2.06 miles

  • Southwest 11th & Clay

    2.18 miles

  • 76

    0.06 miles

  • Fastrak

    0.42 miles

  • Blink

    0.94 miles

  • Shell

    1.13 miles

  • Electrify America

    1.23 miles

  • Mobil

    1.36 miles

  • Space Age

    1.37 miles

  • Arco

    1.56 miles

  • Chevron

    1.73 miles

  • ChargePoint

    1.86 miles

  • Dotter Lot

    0.88 miles

  • Gaines East Lot

    0.95 miles

  • CDRC Lot

    0.97 miles

  • Building 28 Lot

    0.99 miles

  • Gaines West Lot

    1.01 miles

  • Whitaker Lot

    1.04 miles

  • Doernbecher Community Physician's Lot

    1.06 miles

  • Doernbecher Garage

    1.07 miles

  • Campus Drive Garage

    1.07 miles

  • Casey Eye Garage

    1.10 miles

  • River's Edge Hotel

    0.43 miles

  • Fulton House

    0.76 miles

  • Inn at Marquam Hill

    1.26 miles

  • Country in the City

    1.41 miles

  • Sure Stay Hotel by Best Western

    1.50 miles

  • Residence Inn

    1.52 miles

  • Hyatt House

    1.59 miles

  • University Place

    1.59 miles

  • 6th Ave Motel

    1.61 miles

  • Econo Lodge

    1.80 miles

  • Szechuan Chef

    0.04 miles

  • Elephants on Corbett

    0.08 miles

  • Jolly Roger

    0.12 miles

  • Shiro Sushi - Teriyaki

    0.33 miles

  • Chart House Restaurant

    0.35 miles

  • New Taste of India

    0.36 miles

  • El Guapo Taco

    0.37 miles

  • Bakehouse Water Bagels

    0.38 miles

  • Bamboo Grove Hawaiian Grille

    0.41 miles

  • Thai PK

    0.41 miles

  • ACCESS Academy

    0.42 miles

  • Renaissance School

    0.51 miles

  • The Cottonwood School of Civics and Science

    0.62 miles

  • Ida B. Wells-Barnett High School

    0.94 miles

  • L'Etoile French Immersion School

    0.95 miles

  • Rieke Elementary School

    1.08 miles

  • Oregon Health & Science University

    1.10 miles

  • National University of Natural Medicine

    1.25 miles

  • Llewellyn Elementary School

    1.25 miles

  • Robert Gray Middle School

    1.29 miles

  • The International School

    0.08 miles

  • L'Etoile French Immersion School

    0.20 miles

  • Little Scholars Academy

    0.46 miles

  • L'Espoir Preschool

    0.49 miles

  • Montessori Children's House

    0.89 miles

  • Kinder Spirit Preschool

    0.90 miles

  • Healthy Starts Children's Center

    1.02 miles

  • My Bundle of Joy

    1.16 miles

  • Creative Minds

    1.34 miles

  • Childcare Center

    1.88 miles

Frequently Asked Questions

What type of office space is available to lease at The Water Tower?

In total, there is 11,868 square feet of office space for lease here. Availability at this location includes 1 Office space. The property offers Multi-Tenant commercial space. Of the availability currently listed in the building, available spaces include 1 sublease option.

Does The Water Tower have enough space for a large business?

Yes, availabilities here could accommodate larger businesses with 1 office space larger than 10,000 square feet available for lease. For a better understanding of how this space could work for you, reach out to schedule a tour.

Does The Water Tower have parking?
Yes, the property offers 425 parking spaces with a parking ratio of 3.70 / 1,000 SF.
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Contact Listing Broker
broker
J.T. Sand Is this you?

Colliers

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