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Tuck Lung Building 140 NW 4th Ave 33,692 SF 81% Leased Retail Building Portland, OR 97209 $6,400,000 ($189.96/SF) 6.22% Cap Rate
Investment Highlights
- Great Owner/User Opportunity with In-Place Income
- Second Floor Is Entirely Leased To National Credit Tenant
- Cultural Hub for the City's Asian American Community, with a Particular Focus on Chinese Heritage
- Property Has Had Extensive Renovations, Including A New Roof
- Old Town Chinatown Has Long Been A Creative and Vibrant Community of Makers and Doers
Executive Summary
Significant Old Town Chinatown Building Opportunity
Owner/User or Investment • In-place Income
Building Size: ±33,692 SF
Lot Size: ±0.3 Acres (±13,000 SF)
Partial Owner/User or Lease Space: ±6,295 SF
Zoning: Central Commercial (CX)
FAR: 6:1
Height Limit: 100'
Sale Price: $6,400,000 ($190 psf)
Actual NOI @ 76% Leased: $397,828
Actual CAP @ 76% Leased: 6.22%
Proforma NOI: $540,000
Proforma CAP: 8.50%
Owner/User or Investment • In-place Income
Building Size: ±33,692 SF
Lot Size: ±0.3 Acres (±13,000 SF)
Partial Owner/User or Lease Space: ±6,295 SF
Zoning: Central Commercial (CX)
FAR: 6:1
Height Limit: 100'
Sale Price: $6,400,000 ($190 psf)
Actual NOI @ 76% Leased: $397,828
Actual CAP @ 76% Leased: 6.22%
Proforma NOI: $540,000
Proforma CAP: 8.50%
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
33,692 SF
Building Class
C
Year Built/Renovated
1977/2015
Price
$6,400,000
Price Per SF
$189.96
Cap Rate
6.22%
NOI
$397,828
Percent Leased
81%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.39 AC
Opportunity Zone
Yes
Zoning
CX - Central Commercial
Frontage
191’ on 4th Ave
Amenities
- Bus Line
- Commuter Rail
- Conferencing Facility
- Storage Space
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Health Care and Social Assistance
- -
- -
- -
Acadia Healthcare began in 2005 and has grown into a provider focused on behavioral healthcare and substance use services. The company operates a broad network of treatment facilities across the United States and Puerto Rico, serving children, adolescents, adults, and seniors. Its services include inpatient psychiatric hospitals, residential treatment centers, specialty programs, outpatient treatment, and medication-assisted opioid treatment clinics. Acadia Healthcare's care model is built around multiple levels of treatment for mental health disorders, addiction, and related behavioral health needs.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Health Care and Social Assistance | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- Retail 1
- 1,361 SF
- Retail
- -
- Now
- Retail 3
- 1,644 SF
- Retail
- -
- Now
- Retail 4
- 3,290 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| Retail 1 | 1,361 SF | Retail | - | Now |
| Retail 3 | 1,644 SF | Retail | - | Now |
| Retail 4 | 3,290 SF | Retail | - | Now |
Retail 1
| Size |
| 1,361 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Retail 3
| Size |
| 1,644 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Retail 4
| Size |
| 3,290 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Exceptionally bikeable
100/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R140407 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,833,720 |
Property Taxes
Parcel Number
R140407
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,833,720
Contacts
-
Nicholas Diamond -
Riley Henderson -
Michael Horter -
Capacity Commercial Group LLC
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