2285 NW Flanders St - Apartments FOR SALE


Portland, OR 97210- Uptown Portland
$14,500,000 USD
503-221-4888
2285 NW Flanders St, Portland, OR for Sale
$14,500,000 USD
Apartments - FOR SALE
1/7
null | 5.85% Cap Rate

2285 NW Flanders St
Portland, OR 97210
Uptown Portland


HIGHLIGHTS

  • Fully Renovated
  • 100% Occupied
  • Recent 5-Year Lease Extension for SnowPeak

OVERVIEW

CBRE is pleased to present The George, a unique mixed-use asset located along NW 23rd Avenue, Portland's most coveted retail corridor. The property features 10 fully renovated two-bedroom townhome units averaging 1,323 square feet, alongside 16,344 square feet of fully leased commercial space anchored by SnowPeak's flagship store, Takibi restaurant, and SnowPeak's North American Headquarters. Investment highlights include: - Institutional-Quality Renovations: $11.135 million in recent building, renovation, and tenant improvements, with upscale residential renovations completed in 2016 at $60,000 per unit. - Stable Retail Income: Fully leased commercial space with a recently signed 5-year Snow Peak renewal through August 2031 — at blended rents 22% below market, providing meaningful upside at renewal. - Premier NW 23rd Avenue Location: Situated along Portland's highest-rent retail corridor with a 97 Walk Score and 84 Bike Score, offering unmatched visibility and foot traffic. For more information, visit: www.CBRE-TheGeorge.com

FOR SALE DETAILS

PRICE

$14,500,000 USD

PRICE/SF

$499 USD /SF

# OF UNITS

10

PRICE/UNIT

$1,450,000

CAP RATE

5.85%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The George Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1987

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

CS

APN/PARCEL ID

R216384,R216385

ASK ABOUT THIS PROPERTY

Matt DoddCBREMore Info
503-221-4888

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Matt DoddCBREMore Info
503-221-4888

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.