The Alexander | 1001 SE Division St
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The Alexander 1001 SE Division St
9,114 SF 100% Leased Retail Building Portland, OR 97202 $3,000,000 ($329/SF) 6.64% Cap Rate
Investment Highlights
- Prime SE Location Minutes to Downtown Portland and Freeway Access
- Bike and Pedestrian Friendly, Near Mass Transit
- Tall Ceiling Throughout Ground Floors, Finished Concrete Flooring Throughout, Exposed Wood Truss Ceilings, Lots of Natural Light.
- Vibrant Local Neighborhood In a Creative Office, Retail and Dining District, Being Near a Strong Demographic Residential Area
- High Visibility on Major Arterial with Significant Foot and Auto Traffic
- Mixed Use Investment / Owner User Opportunity
Executive Summary
100% Leased. Owner will look at all reasonable offers. Call for additional information
Property is mixed use industrial, retail and office in popular close in location containing the following:
-4350sf 5yr or original term w/5 yr option to renew. Leased to Akadi PDX, 2017 built out 2nd generation restaurant, bar and dining area, kitchen with hood & kitchen equipment in place, ADA bathrooms, office and storage, 2 roll up doors to the sidewalk fronting Division St.
-3430 sf of Leased to Asian Imports Automotive Services w/roll up door to SE 10th, sealed concrete floors, bow strung roof, significant electrical and plumbing in place, roll up door to street, sprinklered, bathroom and shower.
-1131 sf of newly remodeled in 2021, leased offices on the 2nd floor, private bathroom and kitchen/break area, access to private deck above.
Property is mixed use industrial, retail and office in popular close in location containing the following:
-4350sf 5yr or original term w/5 yr option to renew. Leased to Akadi PDX, 2017 built out 2nd generation restaurant, bar and dining area, kitchen with hood & kitchen equipment in place, ADA bathrooms, office and storage, 2 roll up doors to the sidewalk fronting Division St.
-3430 sf of Leased to Asian Imports Automotive Services w/roll up door to SE 10th, sealed concrete floors, bow strung roof, significant electrical and plumbing in place, roll up door to street, sprinklered, bathroom and shower.
-1131 sf of newly remodeled in 2021, leased offices on the 2nd floor, private bathroom and kitchen/break area, access to private deck above.
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$206,762
|
$22.69
|
| Other Income |
$48,864
|
$5.36
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$255,626
|
$28.05
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$56,330
|
$6.18
|
| Net Operating Income |
$199,296
|
$21.87
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $206,762 |
| Annual Per SF | $22.69 |
| Other Income | |
|---|---|
| Annual | $48,864 |
| Annual Per SF | $5.36 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $255,626 |
| Annual Per SF | $28.05 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $56,330 |
| Annual Per SF | $6.18 |
| Net Operating Income | |
|---|---|
| Annual | $199,296 |
| Annual Per SF | $21.87 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Building Size
9,114 SF
Building Class
C
Year Built/Renovated
1900/2017
Price
$3,000,000
Price Per SF
$329
Cap Rate
6.64%
NOI
$199,200
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.10
Lot Size
0.19 AC
Zoning
IG1 - Allows Industrial Service, Light Manufacturing, Retail Service, Office
Frontage
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Restaurant
- Security System
- Signage
- Tenant Controlled HVAC
- Roof Terrace
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Akadi
- Accommodation and Food Services
- 4,350 SF
- $26.00
- Triple Net
- Aug 2027
- Asian Imports
- Services
- 3,556 SF
- $14.95
- Triple Net
- May 2029
- Counseling
- Health Care and Social Assistance
- 1,208 SF
- $27.81
- Modified Gross
- Oct 2028
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Akadi | Accommodation and Food Services | 4,350 SF | $26.00 | Triple Net | Aug 2027 | |
| Asian Imports | Services | 3,556 SF | $14.95 | Triple Net | May 2029 | |
| Counseling | Health Care and Social Assistance | 1,208 SF | $27.81 | Modified Gross | Oct 2028 |
Walk Score ®
Walker's Paradise (95)
Bike Score ®
Biker's Paradise (100)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R276051 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $809,460 |
PROPERTY TAXES
Parcel Number
R276051
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$809,460
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The Alexander | 1001 SE Division St
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