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7501 NE Glisan St 3,846 SF 100% Leased Retail Building Portland, OR 97213 $1,625,000 ($422.52/SF) 6.29% Cap Rate
Executive Summary
High Quality NNN Leased Investment For Sale
DO NOT DISTURB TENANT. Call to tour.
Can be sold with NNN Leased Investment at 3701 Main St. Vancouver, WA 98663 ($1,025,000 with 6.5 CAP)
PROPERTY/BUILDING:
-Fully remodeled in 2018 inside and out including all plumbing, electrical, HVAC and roof (asphalt torch-down)
-Excellent mix of 4 retail Units.
-Separately metered
-2 lots. 7507 NE Glisan can be a stand alone building
-Fenced parking/yard
-Beautiful interiors with 4 ADA restrooms, open commercial kitchen, event space, offices, and retail storefronts.
-1 grade level roll-up door
LEASE/TENANT:
-100% leased by White Pepper Catering since May, 2018 through April, 2029
-True Triple Net Lease. Tenant conducts all property maintenance. No property manager required!
-3% annual Base Rent increases.
-Sticky lease. Tenant invested $400,000 in 2018 renovation.
-Excellent tenant financials. Available upon executed PSA.
-Likely to renew for a longer term.
-Future-proof with good mix of small units.
DO NOT DISTURB TENANT. Call to tour.
Can be sold with NNN Leased Investment at 3701 Main St. Vancouver, WA 98663 ($1,025,000 with 6.5 CAP)
PROPERTY/BUILDING:
-Fully remodeled in 2018 inside and out including all plumbing, electrical, HVAC and roof (asphalt torch-down)
-Excellent mix of 4 retail Units.
-Separately metered
-2 lots. 7507 NE Glisan can be a stand alone building
-Fenced parking/yard
-Beautiful interiors with 4 ADA restrooms, open commercial kitchen, event space, offices, and retail storefronts.
-1 grade level roll-up door
LEASE/TENANT:
-100% leased by White Pepper Catering since May, 2018 through April, 2029
-True Triple Net Lease. Tenant conducts all property maintenance. No property manager required!
-3% annual Base Rent increases.
-Sticky lease. Tenant invested $400,000 in 2018 renovation.
-Excellent tenant financials. Available upon executed PSA.
-Likely to renew for a longer term.
-Future-proof with good mix of small units.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,846 SF
Building Class
C
Year Built/Renovated
1949/2018
Price
$1,625,000
Price Per SF
$422.52
Cap Rate
6.29%
NOI
$102,170
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.68
Lot Size
0.13 AC
Zoning
CM2 - Commercial Mixed Use 2
Parking
5 Spaces (1.3 Spaces per 1,000 SF Leased)
Frontage
83’ on Glisan St
Amenities
- 24 Hour Access
- Corner Lot
- Fenced Lot
- Restaurant
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- White Pepper Catering
- Accommodation and Food Services
- 3,846 SF
- $2.21
- Triple Net
- Apr 2029
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| White Pepper Catering | Accommodation and Food Services | 3,846 SF | $2.21 | Triple Net | Apr 2029 |
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (98)
Nearby Major Retailers
Property Taxes
| Parcel Number | R119499 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $230,610 |
Property Taxes
Parcel Number
R119499
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$230,610
1 of 5
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Presented by
Bango Building, LLC
7501 NE Glisan St
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