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The Historic Vance Land Company Warehouse 120 SW Grover St 22,222 SF 82% Leased Flex Building Portland, OR 97239 $3,010,000 ($135.45/SF) 7.50% Cap Rate
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
| Price | $3,010,000 | Building Class | B |
| Price Per SF | $135.45 | Lot Size | 0.14 AC |
| Sale Type | Investment | Rentable Building Area | 22,222 SF |
| Cap Rate | 7.50% | No. Stories | 4 |
| Property Type | Flex | Year Built/Renovated | 1913/2016 |
| Property Subtype | Showroom | Parking Ratio | 0.36/1,000 SF |
| Zoning | CS - The Community Shopping Center (CS) Zone | ||
| Price | $3,010,000 |
| Price Per SF | $135.45 |
| 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
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Heavy Duty Freight Elevator Great Freeway Access in All Directions Common Loading Area
Heavy Duty Freight Elevator Great Freeway Access in All Directions Common Loading Area
Heavy Duty Freight Elevator Great Freeway Access in All Directions Common Loading Area
| Space | Size | Space Use | Build-Out | Available |
| Basement - Sublevel 1 Suite 03 | 2,500 SF | Flex | Shell Space | Now |
| Basement - Sublevel 2 - 005 | 400 SF | Industrial | - | Now |
| Basement - Sublevel 2 Suite 006 | 1,000 SF | Industrial | - | Now |
Basement - Sublevel 1 Suite 03
| Size |
| 2,500 SF |
| Space Use |
| Flex |
| Build-Out |
| Shell Space |
| Available |
| Now |
Basement - Sublevel 2 - 005
| Size |
| 400 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| Now |
Basement - Sublevel 2 Suite 006
| Size |
| 1,000 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| Now |
Basement - Sublevel 1 Suite 03
| Size | 2,500 SF |
| Space Use | Flex |
| Build-Out | Shell Space |
| Available | Now |
Heavy Duty Freight Elevator Great Freeway Access in All Directions Common Loading Area
Basement - Sublevel 2 - 005
| Size | 400 SF |
| Space Use | Industrial |
| Build-Out | - |
| Available | Now |
Heavy Duty Freight Elevator Great Freeway Access in All Directions Common Loading Area
Basement - Sublevel 2 Suite 006
| Size | 1,000 SF |
| Space Use | Industrial |
| Build-Out | - |
| Available | Now |
Heavy Duty Freight Elevator Great Freeway Access in All Directions Common Loading Area
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
70/100
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
Contacts
-
Riley Henderson -
Jeffrey Valdes -
Nicholas Diamond -
Capacity Commercial Group LLC
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