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Arcoa Bldg 1006 SE Grand Ave 23,688 SF 52% Leased Office Building Portland, OR 97214 $2,100,000 ($88.65/SF)
INVESTMENT HIGHLIGHTS
- 17.98% pro forma cap rate
- 155% upside in NOI
- 11,385 RSF vacant
- 6.46% in-place cap rate
- 32-stall parking lot
EXECUTIVE SUMMARY
Apartment rents are once again on the rise in Portland and, primarily due to the Inclusionary Zoning requirements that took effect in 2017, new project starts have decreased significantly. Savvy developers who can navigate the new rules and deliver units in close-in locations will meet with very little competition over the next few years. This decrease in new apartment supply creates an opportunity for active developers to capitalize on a supply / demand imbalance.
There is also tremendous value in the existing building. Well-maintained buildings with such significant value-add potential have become rare in Portland. Historic charm, attractive facades and common areas, and high quality tenant improvements at the Arcoa Building create a strong foundation on which both long and short-term investment strategies can be built. Experienced investors will find numerous opportunities to add value and capture untapped potential income.
Amenity-rich neighborhoods like the Central Eastside with superior access to transit allow owners to attract and retain quality tenants. With dozens of acclaimed restaurants and bars within just a few blocks of the property and the streetcar and two bus lines within two blocks, the location of the Arcoa Building has become one of the most coveted in the city for both incoming and existing tenants. The property has also benefited from attentive local ownership and has been
filled with a synergistic mix of progressive tenants.
PROPERTY FACTS
AMENITIES
- Controlled Access
- Signage
- Storage Space
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
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- Retailer
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$9.99
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Lorem Ipsum
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Jan 0000
In most states, construction lien laws enable individuals or companies, performing labor, furnishing material or renting equipment in the preparation of the land or the construction of an improvement, to perfect a lien against the property if their bill is not paid. By not sending a Notice, you may find yourself unable to perfect a construction lien. BMDA is the most cost effective alternative for building material suppliers and construction contractors to protect their lien rights when they provide materials and or services to the job site. We have retained a staff with a wealth of experience in obtaining information and research in order to protect your lien rights. Our customer service will do what it takes to make your job easier to process your Notice of Right to a Lien.
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- Retailer
- -
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$9.99
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Lorem Ipsum
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SalonCentric is a U.S.-based wholesale distributor of professional salon products headquartered in Saint Petersburg, Florida. Established in 2008 by L’Oréal USA, the company serves licensed beauty professionals with a wide range of haircare, color, styling tools, and salon equipment. Operating across 48 states, SalonCentric provides access to leading brands such as Redken, Pureology, Matrix, and Mizani. The company emphasizes education and business support for salon professionals through in-store classes and digital platforms. SalonCentric is a subsidiary of L’Oréal USA and is privately held. Over the years, it has expanded its footprint to retail locations and distribution centers nationwide. Notable initiatives include sustainability programs to reduce packaging waste and industry partnerships promoting diversity and inclusion.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
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Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 | |
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Retailer | - | $9.99 | Lorem Ipsum | - |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 200 | 5,114 SF | Office | - | 30 Days |
| 3rd Fl-Ste 300 | 5,371 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 200
| Size |
| 5,114 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
3rd Fl-Ste 300
| Size |
| 5,371 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 200
| Size | 5,114 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
3rd Fl-Ste 300
| Size | 5,371 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
PROPERTY TAXES
| Parcel Number | R233839 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,831,160 |
PROPERTY TAXES
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Arcoa Bldg | 1006 SE Grand Ave
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