323-325 NW 13th Ave - Office FOR SALE


Portland, OR 97209- Pearl
$9,550,000 USD
503-412-8022
323-325 NW 13th Ave, Portland, OR for Sale
$9,550,000 USD
Office - FOR SALE
1/24
null | 8.75% Cap Rate

323-325 NW 13th Ave
Portland, OR 97209
Pearl


HIGHLIGHTS

  • NW 13th Corridor Lowest Retail Vacancy Rate in Downtown Portland at 3.0%
  • Captive trade area with exceptional demographics
  • Highly sought after submarket in Portland’s vibrant Pearl District
  • Sticky tenancy with anchor retailer in occupancy since 2007
  • Desirable dock high corner retail on highly visible pedestrian thoroughfare
  • Highly accessible location with direct connectivity to the greater Portland metro

OVERVIEW

Newmark (NMRK), as an exclusive advisor, is pleased to present the opportunity to acquire the controlling condominium interest in Block 90 (the “property”) – an assemblage of six (6) units totaling 48,058 square feet, located along the Pearl District’s highly coveted NW 13th retail corridor. Situated in Portland’s most desirable submarket, the Pearl District is a testament to urban renewal. The property benefits from an exceptional location along NW 13th, the district’s premier retail corridor, which is rapidly becoming one of the city’s top destinations for dining, shopping, and cultural activities. Offering a blend of modern amenities, a vibrant walkable atmosphere, and seamless connectivity to the greater Portland metro area, the location epitomizes urban living and retailer paradise. The condo structure at Block 90 offers buyers the advantages of full ownership with controlling interest, while also providing the flexibility of a condominium exit strategy, allowing investors to stabilize the property and either sell it as a whole or divest individual units, providing a range of strategic options for exit. Block 90 offers investors a unique opportunity to acquire controlling condominium interest along Portland’s highly desirable NW 13th retail corridor in the Pearl District, providing access to a vibrant cultural hub and offering multiple flexible exit strategies. For more information, please visit the property website hosted on Revere CRE or contact one of our team members.

FOR SALE DETAILS

PRICE

$9,550,000 USD

PRICE/SF

$184 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Block 90

PROPERTY TYPE

Office

ADD'L SUBTYPES

Restaurant, Storefront, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1939

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

EXD

APN/PARCEL ID

R619247,R619248,R619249,R619250,R619251,R619252

ASK ABOUT THIS PROPERTY

James ChildressNewmarkMore Info
503-412-8022

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

James ChildressNewmarkMore Info
503-412-8022

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