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Flex usages with high quality-For Sale and For Lease

$2,600,000

4852 Northeast Martin Luther King Junior Boulevard, Portland, OR 97211

Active
Last Updated: 09/16/2021

6

Cap Rate

9,794 sqft

Building Size

Details:
Cap Rate:    6%
Building Size:    9,794 sqft
Lot Area:    20,473 sqft
Lease Type:    Absolute Net
Class:    B
Price Per Sqft:    $265
Year Built:    2007
Zoning:    CM2
Floors:    2
Parking Spots:    20
Year Last Renovated:    2007 and 2017
Gross Leaseable Area:    9,794
Warehouse %:    40%
Roof:    new flat roof in 2017
HVAC:    3 roof top units
Restrooms:    7
CeilingHeight:    29
Investment Strategy:    Core
Lease Expire Year:    09/30/2020
Highlights:
  • 2007 built on a shell. Structure updated.
  • 2017 upgraded exterior, interior and new roof.
  • Fully fenced with parking lot for 20+ cars, hard to find in the city
  • 2 Dock doors, 1 grade level loading, 4 entries
  • 7 Bathrooms, ADA compliance
  • Brand new utilities in 2007: 480 AMP, 3 phase power, 3 HVACs, new water and sewer lines
Description:

SOLD and closed on Aug. 26th, 2021. Sold price at $2,500,000
In highly desireable NE closed-in Portland within Oregon Convention Center district, on Alberta-MLK Blvd intersection. A hard-to-find industry property with fully
fenced large parking lot and accessible for container truck.
Property has been Absolute NNN leased with excellent maintance record provided.
County assessed real market value at $2,369,460 in 2018 before 2017 upgrades.

Utilities: 2007 installed 480 AMP in 3 phase power; 3 roof top units with 2 gas meters and new water and sewer lines.

Map:
Documents:
Title
Offer_flyer.pdf
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Location
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