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.

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
Retail
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
100’ on SE Division

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

Soccer Shots
New Seasons Market
Tempo
Royal Bank of Canada
barre3
Fit Body Boot Camp
Chase
Starbucks
Keybank
Lil' Kickers

PROPERTY TAXES

  • Listing ID: 22482064

  • Date on Market: 3/15/2021

  • Last Updated:

  • Address: 1001 SE Division St, Portland, OR 97202