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Corbett Building 4245-4247 SW Corbett Ave 5,404 SF Office Building Portland, OR 97239 $750,000 ($138.79/SF)
Investment Highlights
- Owner-user opportunity priced well below replacement cost.
- Well-located near amenities including OHSU, restaurants/cafes, hotels, parks and more.
- Excellent blend of private offices and open creative office space.
- Two long-term MTM tenants. A new user can continue to collect rental income or vacate the two tenants and occupy the entire building.
- Located in a walkable neighborhood with a walk and bike score of 73.
- Ease of access along SW Barbur Blvd with 32,000 + VPD.
Executive Summary
The Offering provides the opportunity for an owner-user to acquire well-located mixed-use building with off-street parking located near Oregon Health & Science University, with an average HH income of $124,000 within 1 mile. Constructed in 1892 and renovated in 2013, this grandfathered 5,404 SF building is situated on 4,345 SF of low-scale residential multi-dwelling zoned land. Currently 30% occupied by two MTM tenants, a new user can continue to collect the rental income to minimize occupancy costs or vacate the tenants and occupy the entire building. The Property is well-located alongside, SW Barbur Blvd., directly adjacent from Corbanc Condominiums with direct access to nearby amenities like restaurants/cafes, hotels, parks and more.
Property Facts Under Contract
Sale Type
Owner User
Sale Condition
High Vacancy Property
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
5,404 SF
Building Class
B
Year Built/Renovated
1892/2013
Price
$750,000
Price Per SF
$138.79
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,801 SF
Slab To Slab
9’
Building FAR
1.24
Lot Size
0.10 AC
Zoning
RM2
Parking
5 Spaces (0.93 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R247621 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $531,010 |
Property Taxes
Parcel Number
R247621
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$531,010
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Corbett Building | 4245-4247 SW Corbett Ave
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