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20719023
20719024

1804 NE Broadway, Portland, OR 97232

Adler Commercial Properties
Listed by Adler Commercial Properties
$1,650,000
567 days on market
Updated 41 days ago

Speedy Broadway

Details
Property Type Industrial, Retail (+1)
Sub Type Auto Shop, Flex (+1)
Square Footage 4,400
Net Rentable (SqFt) 5,000
Units 1
Cap Rate 4.97%
NOI $81,991
Occupancy 100%
Tenancy Single
Brand/Tenant Speedy Novus Glass
Lease Type NNN
Lease Term 5
Lease Expiration 12/31/2027
Remaining Term 1.6
Broker Co-Op No
Class A
Year Built 1971
Year Renovated 2022
Buildings 1
Stories 1
Acreage 0.210
Zoning CS Storefront Commercial
Parking Spaces 8 spaces
Parking Per SqFt 1.82
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 01/01/2023
Occupancy Date 01/01/1994
Ceiling Height 15ft
Sale Condition For sale by owner

Industrial | 4.97% CAP | 4,400 SqFt

Marketing description

Great auto glass repair shop in a walkable neighborhood with heavy foot traffic and easy access to public transit options.

Many upgrades to the building were completed in 2022 and 2023, including a new warehouse heating system, a new electrical panel, new elastomeric roof covering, new roof drains and downspouts, new warehouse overhead door, interior office flooring, and new exterior paint in the recognizable Speedy Glass colors. Parking lot was re-seal-coated and painted with new stripes in 2024.

Investment highlights

Direct sale by owner of this great automotive glass repair commercial property. Lease was renewed for five years beginning January 1, 2023, and includes two five-year renewal options. Please contact owner to tour the property; do not approach the tenants.

Speedy is a AAA-ranked tenant with name recognition that has occupied this building for over 20 years. Lease terms are standard Triple Net and are advantageous to the landlord lessor.

Building zoning has long-term development potential.

Listing Contacts

Adler Commercial Properties
Listed by Adler Commercial Properties

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$81,991.00
$6,832.58/mo

Valuation Metrics

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DSCR
4.97%
Cap Rate
4.97%
ROI

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