The Frances Building 3632-3646 SE Hawthorne Blvd
14,915 SF 100% Leased Retail Building Portland, OR 97214 $5,887,500 ($395/SF) 4.99% Cap Rate
EXECUTIVE SUMMARY
This is an amazing opportunity to acquire a turnkey, apartment-retail complex in the heart of the Hawthorne Shopping District. Seven apartments above 4 retail businesses. PLEASE DO NOT INQUIRE OR CONTACT ANY TENANTS OR VISIT PROPERTY WITHOUT AND APPOINTMENT. Property is tax assessed at $6,380,510 and is listed at $5,887,500, a 5 cap. Well maintained apartments, mostly remodeled, and stable. Offers subject to interior inspection. NNN leases on retail. Tenants pay electric and are billed back for water. Landlord pays trash. Located adjacent to the Bagdad Theater. Commercial Tenants include Harlow Cafe, Echo Theater, Moberi and Portland Cider Co. Again please do not inquire with tenants.
FINANCIAL SUMMARY (ACTUAL - 2020) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$319,442
|
$21.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$319,442
|
$21.42
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$23,706
|
$1.59
|
| Net Operating Income |
$295,736
|
$19.83
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,915 SF
Building Class
C
Year Built
1911
Price
$5,887,500
Price Per SF
$395
Cap Rate
4.99%
NOI
$294,075
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.56
Lot Size
0.22 AC
Zoning
CM2 - CM2
Frontage
95’ on Hawthorne Blvd
AMENITIES
- Bus Line
- Signage
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (100)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R326486 | Improvements Assessment | $0 (2023) |
| Land Assessment | $0 (2023) | Total Assessment | $1,231,740 (2023) |
