1525 SE Martin Luther King Jr Blvd
Portland, OR 97214
Owner/User Retail Building · Retail Property For Sale

1525 SE Martin Luther King Junior Boulevard was built in 1951 using reinforced concrete. The building consists of approximately 4,124 square feet of gross leasable area situated on a 0.09-acre parcel of land. The property is zoned Central Employment (EX), which allows for a variety of uses including retail, office and residential. The current tenant, Expert Auto Repair, has operated at this location since 2001. They recently purchased their own building on SE Powell and will be vacating the building at the end of May 2019. This provides the rare opportunity for an operator to purchase a retail/office building in Portland’s burgeoning Central Eastside Industrial District well below replacement cost. The property is adjacent to new development projects such as the Clay Creative, 1510 Technology Center, Waterman Building, Pitman II and Glass Lab. A qualified operator can acquire this building with an SBA loan, which would require a 15% down payment. Current interest rates are approximately 4.85% assuming a 5-year fixed term amortized over 25 years. A qualified operator can expect to pay approximately $4,870 per month in debt service.