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120 SW Grover St
Portland, OR 97239
The Historic Vance Land Company Warehouse · Flex Property For Sale
Investment Highlights
- Short term leases allow for buyer to capture upside in a changing market
- Significant Capex and renovations completed by current ownership
- Irreplaceable character building with historic designation. Upper spaces feature plentiful natural light
- Building is a mix of maker and studio space
- Close-in location but outside the CBD
- Building is served by freight elevator which is compatible with the maker use
Executive Summary
Multi-Tenant Office Building Investment Opportunity
Renovations Completed in 2018 | CM2 Zoning
Sale Price: $3,010,000 ($137/SF)
CAP Rate: 7.5%
Gross Land Area: 5,000 SF (0.11 AC)
Rentable SF: 21,935 SF
Renovations Completed in 2018 | CM2 Zoning
Sale Price: $3,010,000 ($137/SF)
CAP Rate: 7.5%
Gross Land Area: 5,000 SF (0.11 AC)
Rentable SF: 21,935 SF
Property Facts
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 7.50% | Rentable Building Area | 22,222 SF |
| Property Type | Flex | No. Stories | 4 |
| Property Subtype | Showroom | Year Built/Renovated | 1913/2016 |
| Building Class | B | Parking Ratio | 0.36/1,000 SF |
| Zoning | CS - The Community Shopping Center (CS) Zone | ||
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Property Type | Flex |
| Property Subtype | Showroom |
| Building Class | B |
| Lot Size | 0.14 AC |
| Rentable Building Area | 22,222 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1913/2016 |
| Parking Ratio | 0.36/1,000 SF |
| Zoning | CS - The Community Shopping Center (CS) Zone |
Amenities
- Bus Line
- Signage
Utilities
- Heating - Electric
Property Taxes
| Parcel Number | R129002 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $302,940 |
Property Taxes
Parcel Number
R129002
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$302,940
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