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1255 NW 9th Ave
Portland, OR 97209
The Pinnacle Condominiums · Retail Property For Sale
Property Facts
| Total Building Size | 323,358 SF | Typical Floor Size | 23,097 SF |
| Property Type | Multifamily (Condo) | Year Built | 2005 |
| Property Subtype | Apartment | Lot Size | 1.00 AC |
| Building Class | B | Parking Ratio | 0.77/1,000 SF |
| Floors | 15 | Opportunity Zone |
Yes
|
| Zoning | EX - central employment zone | ||
| Total Building Size | 323,358 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 15 |
| Typical Floor Size | 23,097 SF |
| Year Built | 2005 |
| Lot Size | 1.00 AC |
| Parking Ratio | 0.77/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | EX - central employment zone |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Double Vanities
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Island Kitchen
- Wheelchair Accessible (Rooms)
- Floor to Ceiling Windows
Site Amenities
- Courtyard
- Roof Terrace
- Storage Space
- Elevator
1 Unit Available
Unit Retail
| Unit Size | 7,415 SF | Cap Rate | 6.25% |
| Condo Use | Retail | NOI | $278,704 |
| Sale Type | Investment | APN/Parcel ID | R567402, R567403, R567404 |
| Unit Size | 7,415 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| NOI | $278,704 |
| APN/Parcel ID | R567402, R567403, R567404 |
Sale Notes
The Blocks Portfolio presents a rare opportunity to acquire any combination of up to ten ground floor retail condo properties in the heart
of Portland’s Pearl District. Encompassing over 94,000 square feet of urban retail spanning ten mixed-use buildings, all within a seven-block
radius, the portfolio is strategically embedded within 1,200+ residential units with an annual walking population of 32M. The Offering is for the
retail condominium interest of each building and may be purchased individually or in any combination of units. The Properties are positioned
within the Pearl District, a dense, walkable, high-income neighborhood that has outperformed all of urban Portland in both occupancy, rents,
and tenant sales. The Blocks Portfolio offers a primarily service-based tenant lineup accounting for over 50% of leased square footage, with the
majority occupied by personal services and restaurant uses. With a mix of fully stabilized assets to heavy value-add (including the potential for
owner-occupancy), the flexibility will allow investors to curate a variety of investment strategies. The offering also provides the ability to establish
significant scale in Portland’s most supply-constrained retail corridor with an overall occupancy of 69%.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 176 | - | - |
