Listed by Commercial Realty Advisors Northwest LLC, Beta Agency
$4,250,000
FedEx Office - 221 SW Alder St
Details
APN R245967
Property Type Retail
Sub Type Storefront
Square Footage 11,600
Cap Rate 7.20%
NOI $279,502
Occupancy 100%
Tenancy Single
Brand/Tenant FedEx Office
Lease Type NNN
Lease Expiration 12/30/2031
Remaining Term 5
Rent Bumps Yes
Lease Options None
Price per SqFt $366
Year Built 1956
Acreage 0.220
Zoning CX (Central Commercial)
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 06/30/1992
221 SW Alder St, Portland, OR 97204
Marketing description
The site has been occupied by FedEx Office for over 30 years, offering investors stable cash flow backed by a long-term, credit-rated tenant. The existing lease has minimal landlord responsibilities. The property is strategically located at the gateway to Portland's central business district with dedicated parking at Alder St and 2nd Ave. The site also provides convenient access to the city's residential neighborhoods and cultural core, surrounded by office towers and hotels, with direct access to East Portland via the Morrison Bridge. The investment offers an investor both cash flow from a long-term credit tenant and exceptional upside potential through future redevelopment.
Investment highlights
- Credit Tenant — FedEx Corporation is a global logistics leader and one of the largest publicly traded companies in the U.S., ranked #49 by revenue on the Fortune 500 list. The tenant holds investment-grade credit ratings of BBB (S&P) and Baa2 (Moody's), offering reliable, long-term income backed by a blue-chip guarantor.
- Prime Location — Freestanding building with dedicated onsite parking and additional off site parking positioned at the gateway to Portland's Business District, surrounded by highrise offices, residential, and hotels.
- Visibility and Access — Located at the signalized intersection of SW 2nd Ave & SW Alder St at the Morrison bridgehead providing convenient access to Portland's CBD and surrounding neighborhoods.
- Established Occupancy — FedEx Office has occupied the premises for over 30 years.
- Future Redevelopment Opportunity — The property is zoned CX (Central Commercial) with a low existing FAR, offering significant upside potential for future high-density development, including residential, office, or hotel use. The site is uniquely positioned to capitalize on views of the Willamette River and East Portland.
Listing Contacts
Listed by Commercial Realty Advisors Northwest LLC, Beta Agency
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$279,502.00
$23,291.83/mo
Valuation Metrics
0
DSCR
6.58%
Cap Rate
6.58%
ROI
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