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Centennial Plaza 4 Properties Offered at $2,900,000 in Portland, OR

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EXECUTIVE SUMMARY

Excellent opportunity to own a four building complex with terrific upside in leasinig soon to be vacant office and industrial use buildings. Or, good opportunity for owner/user to occupy up to half of the premises accommodating own office or warehouse needs.
Bldg A- 3 seasoned retail operators on staggered lease obligations at market rent. Approx. 4,400 sf total. Can divide one of units into two.
Bldg B- Existing industrial operator for last 25 years may be vacating early 2026. Can divide approx. 5,600 sf building into 3 units. Heavy power and 5 OH doors.
Bldg C- Existing office occupant, Centennial SD, vacating early 2026. Two story office with elevator, two kitchens, laundry, many large classrooms, offices.
Bldg D- Four unit townhouse building. All units offer garages, w/d hookups, back decks, many recent updates.
Varied product type provides lower vacancy risk.
Price: $2,900,000. Excellent value at $150/sf.
Stable rental history throughout. Located on major arterial just South of SE Division Street. 4 buildings cover two tax lot parcels. Many recent updates in HVAC units. Some metal roofs. Please do not disturb occupants
Walk thrus available for office and industrial buildings. Please call Mike Devlin, Devlin Properties at 503-901-5407 to schedule an appointment.

ATTACHMENTS

Cent. Plaza area comps.
Bieker Cent. Plaza for sale flyer Nov., 2025
Bieker Centennial op. stmt Nov., 2025
Bieker Centennial Rent Roster 11-25
Cent. Plaza bldg CD
Cent. Plaza bldg AB

PROPERTY FACTS

Price $2,900,000
Price / SF $146.76 / SF
Cap Rate 5.97%
Sale Type Investment
Status Active
Number of Properties 4
Individually For Sale 0
Total Building Size 19,760 SF
Total Land Area 3.23 AC

PROPERTIES

PROPERTY NAME / ADDRESS PROPERTY TYPE SIZE YEAR BUILT INDIVIDUAL PRICE
B
2602-2640 SE 162nd Ave, Portland, OR 97236
Industrial 5,700 SF 1994 -
D
2602-2640 SE 162nd Ave, Portland, OR 97236
Multifamily 4,000 SF 1994 -
C
2602-2640 SE 162nd Ave, Portland, OR 97236
Office 5,560 SF 1994 -
Building A
2602-2640 SE 162nd Ave, Portland, OR 97236
Retail 4,500 SF 1994 -
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  • Listing ID: 38436272

  • Date on Market: 11/13/2025

  • Last Updated:

  • Address: Centennial Plaza, Portland, OR

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