The Alexander 1001 SE Division St 9,114 SF 100% Leased Retail Building Portland, OR 97202 $3,000,000 ($329.16/SF) 6.64% Cap Rate



INVESTMENT HIGHLIGHTS
- Prime SE Location Minutes to Downtown Portland and Freeway Access
- Bike and Pedestrian Friendly, Near Mass Transit
- Tall Ceiling Throughout Ground Floors, Finished Concrete Flooring Throughout, Exposed Wood Truss Ceilings, Lots of Natural Light.
- Vibrant Local Neighborhood In a Creative Office, Retail and Dining District, Being Near a Strong Demographic Residential Area
- High Visibility on Major Arterial with Significant Foot and Auto Traffic
- Mixed Use Investment / Owner User Opportunity
EXECUTIVE SUMMARY
100% Leased. Owner will look at all reasonable offers. Call for additional information
Property is mixed use industrial, retail and office in popular close in location containing the following:
-4350sf 5yr or original term w/5 yr option to renew. Leased to Akadi PDX, 2017 built out 2nd generation restaurant, bar and dining area, kitchen with hood & kitchen equipment in place, ADA bathrooms, office and storage, 2 roll up doors to the sidewalk fronting Division St.
-3430 sf of Leased to Asian Imports Automotive Services w/roll up door to SE 10th, sealed concrete floors, bow strung roof, significant electrical and plumbing in place, roll up door to street, sprinklered, bathroom and shower.
-1131 sf of newly remodeled in 2021, leased offices on the 2nd floor, private bathroom and kitchen/break area, access to private deck above.
Property is mixed use industrial, retail and office in popular close in location containing the following:
-4350sf 5yr or original term w/5 yr option to renew. Leased to Akadi PDX, 2017 built out 2nd generation restaurant, bar and dining area, kitchen with hood & kitchen equipment in place, ADA bathrooms, office and storage, 2 roll up doors to the sidewalk fronting Division St.
-3430 sf of Leased to Asian Imports Automotive Services w/roll up door to SE 10th, sealed concrete floors, bow strung roof, significant electrical and plumbing in place, roll up door to street, sprinklered, bathroom and shower.
-1131 sf of newly remodeled in 2021, leased offices on the 2nd floor, private bathroom and kitchen/break area, access to private deck above.
FINANCIAL SUMMARY (PRO FORMA - 2023) |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$206,762
![]() |
$22.69
![]() |
Other Income |
$48,864
![]() |
$5.36
![]() |
Vacancy Loss |
-
![]() |
-
![]() |
Effective Gross Income |
$255,626
![]() |
$28.05
![]() |
Taxes |
-
![]() |
-
![]() |
Operating Expenses |
-
![]() |
-
![]() |
Total Expenses |
$56,330
![]() |
$6.18
![]() |
Net Operating Income |
$199,296
![]() |
$21.87
![]() |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Building Size
9,114 SF
Building Class
C
Year Built/Renovated
1900/2017
Price
$3,000,000
Price Per SF
$329.16
Cap Rate
6.64%
NOI
$199,200
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.10
Lot Size
0.19 AC
Zoning
IG1 - Allows Industrial Service, Light Manufacturing, Retail Service, Office
Frontage
AMENITIES
- 24 Hour Access
- Bus Line
- Corner Lot
- Restaurant
- Security System
- Signage
- Tenant Controlled HVAC
- Roof Terrace
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Akadi
- Accommodation and Food Services
- 4,350 SF
- $26.00
- Triple Net
- Aug 2027
- Asian Imports
- Services
- 3,556 SF
- $14.95
- Triple Net
- May 2029
- Counseling
- Health Care and Social Assistance
- 1,208 SF
- $27.81
- Modified Gross
- Oct 2028
TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
Akadi | Accommodation and Food Services | 4,350 SF | $26.00 | Triple Net | Aug 2027 | |
Asian Imports | Services | 3,556 SF | $14.95 | Triple Net | May 2029 | |
Counseling | Health Care and Social Assistance | 1,208 SF | $27.81 | Modified Gross | Oct 2028 |
Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (100)
NEARBY MAJOR RETAILERS










PROPERTY TAXES
Parcel Number | R276051 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $809,460 |