Listed by Northmarq - Seattle, Northmarq
$670,000
Encore @ The Blocks
Details
Property Type Retail
Sub Type Storefront
Net Rentable (SqFt) 1,400
Units 1
Cap Rate 6.00%
NOI $40,059
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 06/30/2028
Remaining Term 2.1
Rent Bumps Yes
Lease Options 1, 5-YR
Class A
Year Built 2008
Investment Type Net Lease
Ownership Condo
Single-Tenant Ground Floor Condo @ The Blocks
Marketing description
• Single-tenant, net-leased retail condo in Portland’s Pearl District
• Fully occupied by Ovation Coffee & Tea at the base of a prominent residential tower
• Lease term runs through mid-2028 with annual rent increases
• Includes one 1, 5-year extension option, providing near-term
security and future upside
• Ovation Coffee & Tea is a highly regarded local café,
recognized as “#1 coffee shop in Portland” and #3 on Yelp’s
“Top 100 U.S. coffee shops”
• 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
$40,059.00
$3,338.25/mo
Valuation Metrics
0
DSCR
5.98%
Cap Rate
5.98%
ROI
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