1922 NW Pettygrove St 2,727 SF Office Building Portland, OR 97209 $995,000 ($364.87/SF) 5.99% Cap Rate

PRICE REDUCTION TO $995,000!
1922 NW Pettygrove St is a unique opportunity for a creative office user or investor looking for a turn-key space in an amazing Slabtown location. The current tenant has a lease that expires December 1, 2025.
The building consists of an open ground floor space with a bathroom and kitchenette and a full upstairs mezzanine with a full bathroom. With 2,727 SF of building area, a roll-up door in the front, and 4 dedicated parking spaces, the asset is perfect for an owner-user looking for its owns space in the heart of NW Portland. The property features several upgrades over the last few years and the building's lot is zoned CM3 (Commercial Mixed Use 3), which is one of Portland’s most flexible and high-density zones and could result in a high-density development in the future.
The two story building has been remodeled over the years and is currently leased to a single user through December 1, 2025 at $4,967.16/month NNN. The property features newer electrical services, an HVAC unit, two bathrooms (on one on each floor - including one with a shower), exposed wood ceilings and beams, finished concrete floors (ground floor), new exterior paint, and many other new features.