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The George Apartments 2285 NW Flanders St 10 Unit Apartment Building $14,500,000 ($1,450,000/Unit) 5.85% Cap Rate Portland, OR 97210
Investment Highlights
- Fully Renovated
- Recent 5-Year Lease Extension for SnowPeak
- 100% Occupied
Executive Summary
CBRE is pleased to present The George, a unique mixed-use asset located along NW 23rd Avenue, Portland's most coveted retail corridor. The property features 10 fully renovated two-bedroom townhome units averaging 1,323 square feet, alongside 16,344 square feet of fully leased commercial space anchored by SnowPeak's flagship store, Takibi restaurant, and SnowPeak's North American Headquarters.
Investment highlights include:
- Institutional-Quality Renovations: $11.135 million in recent building, renovation, and tenant improvements, with upscale residential renovations completed in 2016 at $60,000 per unit.
- Stable Retail Income: Fully leased commercial space with a recently signed 5-year Snow Peak renewal through August 2031 — at blended rents 22% below market, providing meaningful upside at renewal.
- Premier NW 23rd Avenue Location: Situated along Portland's highest-rent retail corridor with a 97 Walk Score and 84 Bike Score, offering unmatched visibility and foot traffic.
For more information, visit: www.CBRE-TheGeorge.com
Investment highlights include:
- Institutional-Quality Renovations: $11.135 million in recent building, renovation, and tenant improvements, with upscale residential renovations completed in 2016 at $60,000 per unit.
- Stable Retail Income: Fully leased commercial space with a recently signed 5-year Snow Peak renewal through August 2031 — at blended rents 22% below market, providing meaningful upside at renewal.
- Premier NW 23rd Avenue Location: Situated along Portland's highest-rent retail corridor with a 97 Walk Score and 84 Bike Score, offering unmatched visibility and foot traffic.
For more information, visit: www.CBRE-TheGeorge.com
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Balcony
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Patio
- Skylights
Site Amenities
- 24 Hour Access
- Controlled Access
- On-Site Retail
- Recycling
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 10 | $3,300 | 1,318 - 1,363 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | R216385 | Total Assessment | $5,541,790 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
R216385
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$5,541,790 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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The George Apartments | 2285 NW Flanders St
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