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- LoopNet Team
1408-1424 NE 181st Ave
Portland, OR 97230
I-84 Plaza · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- Bus Line
- Pylon Sign
- Signage
ABOUT 1408-1424 NE 181ST AVE , PORTLAND, OR 97230
Marcus & Millichap has been chosen to exclusively market for sale I-84 Plaza, a retail center, on Northeast 181st Avenue. The building is concrete construction and consists of approximately 10,276 square feet of gross leasable area situated on a 0.86-acre parcel of land. The building is fully leased to four commercial retail tenants. Good Vibes Nutrition and the Go Hard MMA & Fitness both have leases through the Summer of 2023, which provides stability for the center while an investor increases rents elsewhere. Thai Restaurant is the newest tenant, who signed a three year lease through the summer of 2022. They are currently paying $18.80 per square foot. In 2018, CrossFit Cimmeria did significant tenant improvements in exchange for below market rent. They signed a two year lease and come up for renewal July 2020. They have an option to renew for another two years at a pre-negotiated rate of $14 per square foot. Market rate is $20 per square foot, so they are still considerably below market. This provides longterm upside for an investor and increases the probability they renew next year
PROPERTY TAXES
| Parcel Number | R321725 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,548,950 |
PROPERTY TAXES
