Barely Mill Building on Hawthorne 1621-1637 SE Hawthorne Blvd 9,770 SF 100% Leased Retail Building Portland, OR 97214 $2,600,000 ($266.12/SF) 7.58% Cap Rate
INVESTMENT HIGHLIGHTS
- Seller Financing Available - 30% Down | 5% Interest | 30 Year Am | 5 Year Term
- Well Maintained Building with Short Term Leases and Below Market Rents
- 7,100 SF Retail / Warehouse Space w/ 14 Ft Clear Height and Sprinklers
- Hyper Dynamic Location at the Corner of SE 17th Ave & SE Hawthorne Blvd
- Barley Mill Pub is the First McMenamins Location Ever | Tenant Since 1983
- Average Household Income is $123,000+ within a 3 Mile Radius
EXECUTIVE SUMMARY
Nathan Drake with Marcus & Millichap has been selected to exclusively market for sale the property located at 1621-1637 SE Hawthorne Blvd in Southeast Portland, Oregon. The building consists of 9,770 square feet of leasable area and is currently 100% leased to (2) tenants. The Barley Mill Pub is a bar and restaurant, and it is the first McMenamins location opened. They have been a tenant in the building since 1983. PJs Sleep Shop is a locally owned mattress retailer, and they have been a tenant in the building since 1979. Both tenants are on short term leases and paying well below the current market rental rates on Hawthorne. The roof was replaced in 2014 and the building has been well maintained by the current owners. Seller Financing is available for qualified Buyers with the following terms: 30% Down | 5% Interest | 30 Year Am | 5 Year Term.
Please contact Nathan Drake to schedule any property tours. Please do not disturb the tenants.
Nathan Drake
(503) 616-8962
nathan.drake@marcusmillichap.com
Please contact Nathan Drake to schedule any property tours. Please do not disturb the tenants.
Nathan Drake
(503) 616-8962
nathan.drake@marcusmillichap.com
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
9,770 SF
Building Class
C
Year Built
1924
Price
$2,600,000
Price Per SF
$266.12
Cap Rate
7.58%
NOI
$197,012
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.02
Lot Size
0.22 AC
Zoning
CM2 - Commercial Mixed-Use 2 allows for a wide range of uses including, but not limited to, retail, office and residential.
Frontage
100’ on Hawthorne Blvd
AMENITIES
- Bus Line
- Pylon Sign
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Barley Mill
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
It's been over 30 years since the Greenway Pub first opened its doors. Since then, we've added outdoor dining, an updated menu, a jukebox, pool tables, shuffleboard and free WiFi. My, how times have changed... Just wait 'til you see the fish tanks, filled with a variety of colorful saltwater beauties and a growing reef, providing endless entertainment and amusement for young and old alike. Head to Tigard to enjoy this treasure, lauded by locals, beer enthusiasts and passers-by alike.
- P J Sleep Shop
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Barley Mill | Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
| P J Sleep Shop | Retailer | 99,999 SF | $9.99 | Lorem Ipsum | - |
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R196928 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $485,040 |
