Division Street Retail Strip | 13509-13511 SE Division St
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Division Street Retail Strip 13509-13511 SE Division St
7,868 SF Retail Building Portland, OR 97236 $1,525,000 ($194/SF)
Executive Summary
13511 SE Division is prime retail center on the busy corridor featuring 3 Retail spaces, plus 2 additional potential retail or warehouse spaces. Currently the owner of the building is retiring from his flooring business, and that will free up additional square footage for new tenants or for an owner user. Owner flexible on doing a short term rent back of their carpet store and storage.
The front retail spaces include a grocery market and video cafe. Both tenants are month to month. Potential to Repurpose, raise rents, or occupy the whole center. There is onsite hard to find off street parking with 10 plus spaces for customers and staff. Easy to show part of the building. Proforma rents at $199,000 annually, once the owner releases the owner occupied spaces. PLEASE DO NOT DISTURB TENANTS AND VISIT PROPERTY WITHOUT AN APPOINTMENT.
The front retail spaces include a grocery market and video cafe. Both tenants are month to month. Potential to Repurpose, raise rents, or occupy the whole center. There is onsite hard to find off street parking with 10 plus spaces for customers and staff. Easy to show part of the building. Proforma rents at $199,000 annually, once the owner releases the owner occupied spaces. PLEASE DO NOT DISTURB TENANTS AND VISIT PROPERTY WITHOUT AN APPOINTMENT.
Financial Summary (Pro forma - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$199,640
|
$25.37
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$199,640
|
$25.37
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$25,435
|
$3.23
|
| Net Operating Income |
$174,205
|
$22.14
|
Financial Summary (Pro forma - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $199,640 |
| Annual Per SF | $25.37 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $199,640 |
| Annual Per SF | $25.37 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $25,435 |
| Annual Per SF | $3.23 |
| Net Operating Income | |
|---|---|
| Annual | $174,205 |
| Annual Per SF | $22.14 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,868 SF
Building Class
C
Year Built/Renovated
1972/2001
Price
$1,525,000
Price Per SF
$194
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.44
Land Acres
0.41 AC
Zoning
CM1 - The CM1 zone is a small-scale, commercial mixed use zone intended for sites in smaller mixed use nodes within lower density residential areas.
Parking
14 Spaces (1.78 Spaces per 1,000 SF Leased)
Frontage
165 FT on Division St
Amenities
- Bus Line
- Pylon Sign
- Signage
Walk Score ®
Very Walkable (70)
Bike Score ®
Very Bikeable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R283977 | Improvements Assessment | $0 (2023) |
| Land Assessment | $0 (2023) | Total Assessment | $640,510 (2023) |
PROPERTY TAXES
Parcel Number
R283977
Land Assessment
$0 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$640,510 (2023)
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Division Street Retail Strip | 13509-13511 SE Division St
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