Listed by Northmarq - Seattle, Northmarq
$2,000,000
Streetcar Lofts @ The Blocks
Details
APN R518319, R518320, R518321, R518322, R518323, R518324, R518325, R518326, R518327
Property Type Retail
Sub Type Storefront
Square Footage 9,193
Net Rentable (SqFt) 9,193
Cap Rate 9.00%
Occupancy 9%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Price per SqFt $42
Class A
Year Built 2001
Investment Type Value Add
Tenant Credit No Credit Rating
Ground Lease No
Ownership Condo
9,193 SF Ground Floor Retail Condo @ The Blocks
Investment highlights
9,193 SF retail condo in Portland’s Pearl District
Significant value-add / repositioning opportunity at 9%occupancy with 8,376 SF of available space across four suites
Sole tenant is Adore Day Spa (817 SF), a 15-year tenant with a lease through May 2030 and 1, 5-year option
Significant below-market pricing at $218/SF presents a compelling basis relative to replacement cost
Available suites offer flexibility for owner-occupancy, creative re-tenanting, or potential larger format spaces
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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