HIGHLIGHTS
- Well established multi-tenant retail center leased to four tenants, three of which have been in-place for nine years or more.
- Tenants range in size from 4,500 SF to 7,500 SF.
- Property includes 2,500 SF of grade level warehouse occupied rent-free by a general contractor acting in the capacity of caretaker.
- Under market gross leases provide the opportunity to add value over time by converting to net leases and increasing income.
- Easily accessible location in Portland's Gateway Neighborhood, blocks from the intersection of I-205, I-84, and the TriMet Light Rail Transit Station.
- Excellent drive-by exposure with 415' of frontage on NE 102nd Avenue and a traffic count of 10,316 cars per day average.
OVERVIEW
Outstanding Eastside investment opportunity: a 24,426 SF retail/service building with partial renovations in 2021 and 2025, CX zoning, 100% occupancy, and solid long-term tenants. The property offers stable income and potential to shift to higher-yield net leases - an ideal addition to a savvy investor’s portfolio.
FOR SALE DETAILS
PRICE
$3,000,000 USD
PRICE/SF
$123 USD /SF
CAP RATE
Request Cap Rate
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Office
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
-
YEAR BUILT
1971
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.59 AC
LAND SF
69,260 SF
ZONING
CX
APN/PARCEL ID
R319731
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503-227-2500
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503-227-2500
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