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2931-2935 NE Broadway St 3,338 SF 100% Leased Retail Building Portland, OR 97232 $834,000 ($249.85/SF) 7.71% Cap Rate
INVESTMENT HIGHLIGHTS
- Stable investment property with long term tenants
- Suites have dedicated restrooms, kitchenette/breakrooms, private entrances, and common area laundry access
- Highly visible, signalized corner lot; NE Broadway & NE 30th
- Newer roof & water heater, Milgard windows, low VOC paint, eco friendly flooring
- Potential for two food carts with access to power and water for additional income
EXECUTIVE SUMMARY
Long term tenancies include a wellness center and counseling practice in this stabilized asset. The three-story commercial property built in 1907, includes a main level storefront suite with historical charm, and fully occupied second and third level offices. Would make a great live/work scenario. Suites have dedicated restrooms, kitchenette/break rooms, private entrances, and common area laundry access. Recent updates include a +/- 8 yr old roof and water heater, Milgard windows, low VOC paint, eco-friendly marmoleum flooring, and carpet produced from recycled aluminum cans. Potential for two food cart pads on east side of building with water and electrical access offers potential for additional income.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,338 SF
Building Class
C
Year Built
1907
Price
$834,000
Price Per SF
$249.85
Cap Rate
7.71%
NOI
$64,280
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.16
Lot Size
0.07 AC
Zoning
CM2
Parking
2 Spaces (0.6 Spaces per 1,000 SF Leased)
Frontage
57’ on Broadway St
AMENITIES
- Bus Line
- Signalized Intersection
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (95)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R216665 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $240,960 |
PROPERTY TAXES
Parcel Number
R216665
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$240,960
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2931-2935 NE Broadway St
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