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Centennial Plaza 4 Properties Offered at $2,900,000 in Portland, OR
Investment Highlights
- Varied asset types offer reduced income stream risk, metal roof on some of buildings, updated siding on all buildings.
Executive Summary
Excellent opportunity to own a four building complex with new leases signed by experienced day care operator and seasoned industrial tenant. Upside in lease extensions and renewals. One of townhouses to be vacated in Sept., 26.
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- 25 year tenant on new 3 year lease for half of building. Heavy power and 5 OH doors. Recently signed new tenant at South end of building. Now fully leased, as small space at North end of building reserved for owner's storage. Separate meters fo heat/lights.
Bldg C- Fully leaed recently to experienced day care operator. Two story office with elevator, two kitchens, laundry, many large classrooms, offices. Many improvements being performed to satisfy occupancy permit. Former home of Centennial School District.
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.
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- 25 year tenant on new 3 year lease for half of building. Heavy power and 5 OH doors. Recently signed new tenant at South end of building. Now fully leased, as small space at North end of building reserved for owner's storage. Separate meters fo heat/lights.
Bldg C- Fully leaed recently to experienced day care operator. Two story office with elevator, two kitchens, laundry, many large classrooms, offices. Many improvements being performed to satisfy occupancy permit. Former home of Centennial School District.
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.
Property Facts
| Price | $2,900,000 | Number of Properties | 4 |
| Price / SF | $146.76 / SF | Individually For Sale | 0 |
| Cap Rate | 6.68% | Total Building Size | 19,760 SF |
| Sale Type | Investment | Total Land Area | 3.23 AC |
| Status | Active |
| Price | $2,900,000 |
| Price / SF | $146.76 / SF |
| Cap Rate | 6.68% |
| 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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Centennial Plaza