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1407 SE Cora St 26,702 SF 100% Leased Retail Building Portland, OR 97202 $6,934,820 ($259.71/SF) 5.35% Cap Rate
Investment Highlights
- Great SE Portland Neighborhood
- Open Central Corridor, Underground Parking, upside options for market rent increases and more utility recapture
- 20 Modern Apartments plus 3 storefront nnn retails spaces facing SE Milwaukie Blvd
Executive Summary
Offers subject to interior inpection. Fully leased normally, 3 storefronts, 20 apartment units, garden style, built in 2020.Superb condition throughout. Underground Garage. Touring available for common areas. Call Agent.
1407 SE Cora is a newly built (2021), 0.24-acre mixed-useinvestment pairing 20 residential apartments with three ground-floor commercial suites across approximately 26,702 SF of grossbuilding area.Residential units feature contemporary finishes — luxury vinylplank flooring, quartz countertops, wood cabinetry, tilebacksplashes, and stainless appliances — with in-unit HVAC andwasher/dryer. The building is fully sprinklered.The retail suites offer modern build-outs with polished concretefloors, exposed wood-beam ceilings, natural light, and glassstorefronts — flexible for retail, service, or office tenants in awalkable, transit-connected submarket.
1407 SE Cora is a newly built (2021), 0.24-acre mixed-useinvestment pairing 20 residential apartments with three ground-floor commercial suites across approximately 26,702 SF of grossbuilding area.Residential units feature contemporary finishes — luxury vinylplank flooring, quartz countertops, wood cabinetry, tilebacksplashes, and stainless appliances — with in-unit HVAC andwasher/dryer. The building is fully sprinklered.The retail suites offer modern build-outs with polished concretefloors, exposed wood-beam ceilings, natural light, and glassstorefronts — flexible for retail, service, or office tenants in awalkable, transit-connected submarket.
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$505,964
|
$208.64
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$505,964
|
$208.64
|
| Taxes |
$72,509
|
$29.90
|
| Operating Expenses |
$62,442
|
$25.75
|
| Total Expenses |
$134,951
|
$55.65
|
| Net Operating Income |
$371,013
|
$153.00
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $505,964 |
| Annual Per SF | $208.64 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $505,964 |
| Annual Per SF | $208.64 |
| Taxes | |
|---|---|
| Annual | $72,509 |
| Annual Per SF | $29.90 |
| Operating Expenses | |
|---|---|
| Annual | $62,442 |
| Annual Per SF | $25.75 |
| Total Expenses | |
|---|---|
| Annual | $134,951 |
| Annual Per SF | $55.65 |
| Net Operating Income | |
|---|---|
| Annual | $371,013 |
| Annual Per SF | $153.00 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
26,702 SF
Building Class
B
Year Built
2021
Price
$6,934,820
Price Per SF
$259.71
Cap Rate
5.35%
NOI
$371,013
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.55
Lot Size
0.24 AC
Zoning
CM 1 - Commercial Mixed Use 1
Frontage
100’ on Milwaukie
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R117963 | Total Assessment | $2,691,070 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $72,509 ($2.72/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2027 Payable 2027 |
Property Taxes
Parcel Number
R117963
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$2,691,070 (2025)
Annual Taxes
$72,509 ($2.72/SF)
Tax Year
2027 Payable 2027
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1407 SE Cora St