I-205 Business Complex 3 Properties Offered at $6,975,000 in Portland, OR

The I-205 Business Complex is a multi-building, multi-tenant property with a mix of industrial, retail and office/service tenants. Its east Portland location is very central and accessible for the Portland/ Vancouver metro region, within two blocks of a major Interstate 205 interchange. This location is also within the Gateway Regional Center, the City of Portland’s only designated regional center and is targeted to receive a significant share of the city’s growth. The property is anchored by two larger, long-term tenants, Automotive Industrial Marketing Corporation (AIMCO) and Mor Furniture for Less (Mor Furniture). These companies (or related entity) have occupied 94% of the project for more than 25 years, with leases extending into 2028 and beyond. One smaller office/service tenant occupies one space and there is one small vacant space located within a multi-tenant office/service pad building fronting SE Start Street.
The I-205 Business Complex has a long history of effectively full occupancy providing a strong, diverse, and reliable income stream. Existing contract rents are well below current market rents, providing the potential for dramatic income and value upside over time. In-Place NOI of $571,373 (8.19% cap rate).