949 NW Overton St - Apartments CONDO FOR SALE


Portland, OR 97209- Pearl
$670,000 USD
952-356-0100
949 NW Overton St, Portland, OR for Sale
$670,000 USD
Apartments CONDO - FOR SALE
1/5
null | 5.98% Cap Rate

949 NW Overton St
Portland, OR 97209
Pearl


OVERVIEW

The Blocks Portfolio presents a rare opportunity to acquire any combination of up to ten ground floor retail condo properties in the heart of Portland’s Pearl District. Encompassing over 94,000 square feet of urban retail spanning ten mixed-use buildings, all within a seven-block radius, the portfolio is strategically embedded within 1,200+ residential units with an annual walking population of 32M. The Offering is for the retail condominium interest of each building and may be purchased individually or in any combination of units. The Properties are positioned within the Pearl District, a dense, walkable, high-income neighborhood that has outperformed all of urban Portland in both occupancy, rents, and tenant sales. The Blocks Portfolio offers a primarily service-based tenant lineup accounting for over 50% of leased square footage, with the majority occupied by personal services and restaurant uses. With a mix of fully stabilized assets to heavy value-add (including the potential for owner-occupancy), the flexibility will allow investors to curate a variety of investment strategies. The offering also provides the ability to establish significant scale in Portland’s most supply-constrained retail corridor with an overall occupancy of 69%

FOR SALE DETAILS

PRICE

$670,000 USD

PRICE/SF

$479 USD /SF

CAP RATE

5.98%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Encore

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

310,032 SF

STORIES

16

BUILDING CLASS

B

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

250

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

EX

APN/PARCEL ID

R619843,R619862,R619876,R619884,R619886,R619892,R619912,R619922,R619930,R619933,R619936,R619945,R619953,R619958,R619960,R619975,R619976,R619989,R619997,R619999,R620004,R620018

ASK ABOUT THIS PROPERTY

Kevin AdattoNorthmarqMore Info
952-356-0100

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Kevin AdattoNorthmarqMore Info
952-356-0100

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