Listed by Keller Williams Portland Central
$1,575,000
Alberta Mixed use
Details
APN P240221
Property Type Mixed Use, Multifamily
Sub Type Apartment Building, Restaurant
Square Footage 2,834
Units 5
Cap Rate 4.36%
NOI $68,631
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Pro-Forma Cap Rate 5.26%
Pro-Forma NOI $82,798
Price per SqFt $556
Class B
Year Built 1998
Year Renovated 2008
Buildings 1
Stories 2
Lot Size (SqFt) 2,500
Zoning CM2
Investment Type Stabilized
Sale Condition 1031 exchange
Mixed Use | 4.36% CAP | 2,834 SF
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
Listing Contacts
Listed by Keller Williams Portland Central
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$68,631.00
$5,719.25/mo
Valuation Metrics
0
DSCR
4.36%
Cap Rate
4.36%
ROI
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