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The Alexander 1001 SE Division St 9,114 SF 100% Leased Retail Building Portland, OR 97202 $4,121,160 CAD ($452.18 CAD/SF) 6.64% Cap Rate
Investment Highlights
- Prime SE Location Minutes to Downtown Portland and Freeway Access
- Bike and Pedestrian Friendly, Near Mass Transit
- Tall Ceiling Throughout Ground Floors, Finished Concrete Flooring Throughout, Exposed Wood Truss Ceilings, Lots of Natural Light.
- Vibrant Local Neighborhood In a Creative Office, Retail and Dining District, Being Near a Strong Demographic Residential Area
- High Visibility on Major Arterial with Significant Foot and Auto Traffic
- Mixed Use Investment / Owner User Opportunity
Executive Summary
100% Leased. Owner will look at all reasonable offers. Call for additional information
Property is mixed use industrial, retail and office in popular close in location containing the following:
-4350sf 5yr or original term w/5 yr option to renew. Leased to Akadi PDX, 2017 built out 2nd generation restaurant, bar and dining area, kitchen with hood & kitchen equipment in place, ADA bathrooms, office and storage, 2 roll up doors to the sidewalk fronting Division St.
-3430 sf of Leased to Asian Imports Automotive Services w/roll up door to SE 10th, sealed concrete floors, bow strung roof, significant electrical and plumbing in place, roll up door to street, sprinklered, bathroom and shower.
-1131 sf of newly remodeled in 2021, leased offices on the 2nd floor, private bathroom and kitchen/break area, access to private deck above.
Property is mixed use industrial, retail and office in popular close in location containing the following:
-4350sf 5yr or original term w/5 yr option to renew. Leased to Akadi PDX, 2017 built out 2nd generation restaurant, bar and dining area, kitchen with hood & kitchen equipment in place, ADA bathrooms, office and storage, 2 roll up doors to the sidewalk fronting Division St.
-3430 sf of Leased to Asian Imports Automotive Services w/roll up door to SE 10th, sealed concrete floors, bow strung roof, significant electrical and plumbing in place, roll up door to street, sprinklered, bathroom and shower.
-1131 sf of newly remodeled in 2021, leased offices on the 2nd floor, private bathroom and kitchen/break area, access to private deck above.
Financial Summary (Pro Forma - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$284,033
|
$31.16
|
| Other Income |
$67,125
|
$7.37
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$351,159
|
$38.53
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$77,382
|
$8.49
|
| Net Operating Income |
$273,777
|
$30.04
|
Financial Summary (Pro Forma - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $284,033 |
| Annual Per SF | $31.16 |
| Other Income (CAD) | |
|---|---|
| Annual | $67,125 |
| Annual Per SF | $7.37 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $351,159 |
| Annual Per SF | $38.53 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $77,382 |
| Annual Per SF | $8.49 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $273,777 |
| Annual Per SF | $30.04 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,114 SF
Building Class
C
Year Built/Renovated
1900/2017
Price
$4,121,160 CAD
Price Per SF
$452.18 CAD
Cap Rate
6.64%
NOI
$273,645 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.10
Lot Size
0.19 AC
Zoning
IG1 - Allows Industrial Service, Light Manufacturing, Retail Service, Office
Frontage
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Restaurant
- Security System
- Signage
- Tenant Controlled HVAC
- Roof Terrace
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Akadi
- Accommodation and Food Services
- 4,350 SF
- $35.72 CAD
- Triple Net
- Aug 2027
- Asian Imports
- Services
- 3,556 SF
- $20.54 CAD
- Triple Net
- May 2029
- Counseling
- Health Care and Social Assistance
- 1,208 SF
- $38.20 CAD
- Modified Gross
- Oct 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Akadi | Accommodation and Food Services | 4,350 SF | $35.72 CAD | Triple Net | Aug 2027 | |
| Asian Imports | Services | 3,556 SF | $20.54 CAD | Triple Net | May 2029 | |
| Counseling | Health Care and Social Assistance | 1,208 SF | $38.20 CAD | Modified Gross | Oct 2028 |
Exceptionally walkable
100/100
Very drivable
80/100
Strong public transit
80/100
Exceptionally bikeable
90/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R276051 | Improvements Assessment | $0 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $1,175,397 CAD (2025) |
Property Taxes
Parcel Number
R276051
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$1,175,397 CAD (2025)
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The Alexander | 1001 SE Division St
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