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Alberta Mixed use
Mixed Use | 4.36% CAP | 2,834 SF
Listing Contacts
License: OR 900800253
License: 200908043
Active
Asking Price: $1,575,000
Address
1458 NE Alberta St, Portland, OR 97211
Show on MapDate Added
Mar 11, 2024
Days on Market
369 days
Time Since Last Update
52 days
Details
Property TypeMixed Use, Multifamily, Retail
SubtypeApartment Building, Restaurant
Investment TypeStabilized
ClassB
Lease TypeNNN
TenancyMulti
Number of Tenants5
Square Footage2,834
Price/Sq Ft$555.75
Cap Rate4.36%
Pro-Forma Cap Rate5.26%
Occupancy100%
NOI$68,631
Pro-Forma NOI$82,798
Units5
Year Built1998
Year Renovated2008
Buildings1
Stories2
ZoningCM2
Lot Size (sq ft)2,500
Rent BumpsYes
APNP240221
Sale Condition1031 exchange
Marketing Description
This investment is in the Alberta Arts district. Well located in the heart of retail service and other mixed use properties. Built in 1998 and upgraded in 2008. The corner lot is a benefit for the property.
Gabetas Restaurant & Bar and Mister OK’s Essentials are the two retail tenants on the ground floor. Gabetas just signed a new five year lease.. The retailers are NNN leases paying 66% of the taxes and insurance as well as their repairs.
There are three residential tenants on the upper floor. One has been there since 2014 and one since 2018.
The interior and exterior of this investment is is very good shape.
Investment Highlights
Great corner mixed use investment in the Alberta Arts district
Valuation Calculator
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$68,631.00
$5,719.25/mo
Valuation Metrics
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0
DSCR
4.36%
Cap Rate
4.36%
ROI
Property History
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Due Diligence
Listing Contacts
- License: OR 900800253
- License: 200908043
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