Listed by Northmarq - Seattle, Northmarq
$3,870,000
Bridgeport @ The Blocks
Details
Property Type Retail
Sub Type Storefront
Net Rentable (SqFt) 7,560
Units 5
Cap Rate 6.49%
NOI $250,976
Occupancy 90%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Class A
Year Built 2003
Investment Type Value Add
Ownership Condo
Ground Floor Retail Condo @ The Blocks
Marketing description
• 7,560 SF retail condo in Portland’s Pearl District
• 90% leased to a diverse mix of four tenants spanning restaurant and health/wellness uses
• Tenancy is predominantly service-based and appointment driven, generating consistent recurring traffic
• Strong tenant retention with several operators in place for 10+ years, including Kanani Pearl Spa and Via Delizia since 2004
• Via Delizia is a well-regarded Italian restaurant and Pearl District neighborhood staple, ranked in the top 10% of restaurants on Tripadvisor
• Part of The Blocks mixed-use portfolio (10 buildings; ~94,000+ SF retail)
• Supported by ~1,200 nearby residential condo units and strong walkable density
Listing Contacts
Listed by Northmarq - Seattle, Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$250,976.00
$20,914.67/mo
Valuation Metrics
0
DSCR
6.49%
Cap Rate
6.49%
ROI
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