Title & Trust Building 321 SW Fourth 19,161 SF 56% Leased Office Building Portland, OR 97204 $1,920,000 ($100.20/SF) 8.10% Cap Rate

Built in 1913, the historic Title & Trust Office building presents a unique opportunity for both investors and owner-users to acquire a fully modernized asset in Portland’s revitalizing downtown core at well below replacement cost. Since current ownership’s acquisition in 2008, the Property has seen over $2 million in comprehensive upgrades. From 2008 to 2010, $1.5 million was invested in a new roof, HVAC systems, plumbing, electrical updates, and interior remodels. Constructed with steel reinforced concrete, the Subject Property meets current seismic code for office buildings. Every floor, other than the third floor, has been remodeled. In 2015, the second floor underwent a major renovation with $350,000 contributed by the landlord and tenant. Most recently, elevator controllers were upgraded to digital at a cost of $600,000.
The Property is conveniently located across the street from a 60-space surface parking lot which provides a level of safety for tenants to park and walk to the office. Retail/food amenities include the Midtown Beer Garden which is adjacent to the property and provides a bevy of food choices in a clean and safe environment.
Downtown Portland appears poised for a comeback. New developments in the Portland CBD include the nearby 1-million-square-foot Ritz Carlton mixed-use tower. State and local government efforts to improve downtown include stricter enforcement against drugs and camping and funding for transitional housing to reduce homelessness. With its extensive upgrades, strategic location, and acquisition cost far below replacement value, the Title & Trust Office building represents a compelling investment in Portland’s emerging downtown market.