4950 NE Martin Luther King Jr Blvd - Office FOR SALE


Portland, OR 97211- King
$4,950,000 USD
503-964-2730
4950 NE Martin Luther King Jr Blvd, Portland, OR for Sale
$4,950,000 USD
Office - FOR SALE
1/7
null | 6.82% Cap Rate

4950 NE Martin Luther King Jr Blvd
Portland, OR 97211
King


HIGHLIGHTS

  • Long-Term Absolute NNN Lease
  • Regional Non-Profit Organization that Provides Employment Opportunities
  • Excellently Maintained Building and Lot
  • Long-Term Residual Land Value

OVERVIEW

LONG-TERM PASSIVE INCOME Approximately 13 years of remaining lease term with an absolute NNN structure providing predictable income and minimal landlord responsibilities. ESTABLISHED REGIONAL TENANT The property is leased to DePaul Industries and The DPI Group, affiliated Oregon nonprofit organizations with decades of operating history in workforce development, staffing, security, and employment services. PROMINENT INNER NORTHEAST PORTLAND LOCATION Located at the southeast corner of NE MLK Jr Blvd and NE Alberta St, near the Alberta Arts District and Williams/Vancouver corridors. VALUABLE UNDERLYING REAL ESTATE Four contiguous tax parcels totaling ±24,475 SF with CM2 zoning provide meaningful long-term residual land value and future redevelopment potential. STRATEGIC CORNER SITE Approximately 200'of frontage along NE MLK Jr Blvd and approximately 100' along NE Alberta St.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$318 USD /SF

CAP RATE

6.82%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1914

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

cm2

APN/PARCEL ID

R206385,R206386,R206387,R206392

ASK ABOUT THIS PROPERTY

Rebecca O'LearyKidder MathewsMore Info
503-964-2730

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Rebecca O'LearyKidder MathewsMore Info
503-964-2730

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