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3636 NE Broadway St 7,016 SF 100% Leased Office Building Portland, OR 97232 $2,500,000 ($356.33/SF) 6.12% Cap Rate
Executive Summary
3636 NE Broadway Street presents a covered land investment opportunity in Portland’s Hollywood District, located on a prominent signalized corner with excellent visibility and access near I-84 and public transit. The property is improved with a ±6,275 SF, single-tenant office building on a ±27,158 SF lot and is fully leased to a mission-driven nonprofit organization under a long-term, BOMA office net lease with traditional NNN pass through expenses (including management) with scheduled 3% annual base rent increases, providing predictable interim cash flow and simplified ownership. Zoned CM3, the site allows for a wide range of future commercial and mixed-use redevelopment scenarios, offering long-term upside while the existing income stream offsets holding costs.
• 6.12% cap rate based on 2027 projected NOI
• BOMA office net lease structure
• Traditional NNN expense reimbursements (including management)
• 3% annual base rent increases
• 6.12% cap rate based on 2027 projected NOI
• BOMA office net lease structure
• Traditional NNN expense reimbursements (including management)
• 3% annual base rent increases
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
7,016 SF
Building Class
B
Year Built
1992
Price
$2,500,000
Price Per SF
$356.33
Cap Rate
6.12%
NOI
$153,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,275 SF
Building FAR
0.24
Lot Size
0.66 AC
Zoning
CM3 - Commercial Mixed Use 3
Parking
31 Spaces (4.94 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
1 1
Very walkable
80/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | R175515 | Improvements Assessment | $1,260,800 |
| Land Assessment | $2,851,450 | Total Assessment | $4,112,250 |
Property Taxes
Parcel Number
R175515
Land Assessment
$2,851,450
Improvements Assessment
$1,260,800
Total Assessment
$4,112,250
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3636 NE Broadway St
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