6908 N Roberts Ave - Key Storage
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6908 N Roberts Ave - Key Storage
1.3 Acres of Industrial Land Offered at $1,900,000 in Portland, OR 97203
Investment Highlights
- 1.3 ACRES FENCED AND GATED OPEN STORAGE
- LOW VACANCY WITH SIGNIFICANT OPPORTUNITY FOR INCREASED REVENUE
- INCLUDED 2BR/1BA, 949 SF HOUSE. HAS WORKED WELL AS A MANAGER’S RESIDENCE, OR AS ADDITIONAL RENTAL INCOME
- ESTABLISHED, CASH-FLOWING BUSINESS. 6.62 % Cap Rate
- ALL STORAGE LEASES ARE MONTH-MONTH. NEW LEASES HAVE FILLED AT MARKET RATE WITH EASE
- ADJACENT 5BR/3BA, 2,618 SF HOUSE IS AVAILABLE SEPARATELY AT $500,000
Executive Summary
Located in St John’s this property is well situated as an open storage facility. The 1.3 acre parcel is securely tucked away between The Port of Portland and Union Pacific Railroad. Key Storage has been an established, cash-flowing business since 2006, with many long-term tenants and occupancy of 97%. There is significant opportunity to increase rents as many of the spaces are currently renting below market rates. All leases are month-month, and as spaces have become available, they have easily leased up at market rates. This property includes a 2br 1ba single family house that could be used as a manager’s residence or separate rental property. Also available separately for $449,900 is an adjacent .44 acres of IG2 land with a 5 bed 3 bath, 2,618 SF single family home. Excellent for owner/operator, additional rental income, or expansion of industrial use. Contact Matt Warren at 971.500.9781 for additional details on the property.
Data Room Click Here to Access
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
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| Other Income |
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-
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| Vacancy Loss |
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| Effective Gross Income |
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| Net Operating Income |
$99,999
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$9.99
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Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $1,900,000 | Property Subtype | Industrial |
| Sale Type | Investment | Proposed Use | Self Storage |
| No. Lots | 1 | Total Lot Size | 1.30 AC |
| Property Type | Land |
| Price | $1,900,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Industrial |
| Proposed Use | Self Storage |
| Total Lot Size | 1.30 AC |
1 Lot Available
Lot
| Price | $1,900,000 | Lot Size | 1.30 AC |
| Price Per AC | $1,461,538 |
| Price | $1,900,000 |
| Price Per AC | $1,461,538 |
| Lot Size | 1.30 AC |
1 of 1
zoning
| Zoning Code | IG2 |
| IG2 |
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Ryan Imbrie -
Matt Warren -
Nick Krautter -
SVN | Imbrie Realty
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6908 N Roberts Ave - Key Storage
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