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The Alexander 1001 SE Division St 9,114 SF 100% Leased Retail Building Portland, OR 97202 $4,185,600 CAD ($459.25 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 |
$288,474
|
$31.65
|
| Other Income |
$68,175
|
$7.48
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$356,649
|
$39.13
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$78,592
|
$8.62
|
| Net Operating Income |
$278,058
|
$30.51
|
FINANCIAL SUMMARY (PRO FORMA - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $288,474 |
| Annual Per SF | $31.65 |
| Other Income (CAD) | |
|---|---|
| Annual | $68,175 |
| Annual Per SF | $7.48 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $356,649 |
| Annual Per SF | $39.13 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $78,592 |
| Annual Per SF | $8.62 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $278,058 |
| Annual Per SF | $30.51 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Building Size
9,114 SF
Building Class
C
Year Built/Renovated
1900/2017
Price
$4,185,600 CAD
Price Per SF
$459.25 CAD
Cap Rate
6.64%
NOI
$277,924 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
- $36.28 CAD
- Triple Net
- Aug 2027
- Asian Imports
- Services
- 3,556 SF
- $20.86 CAD
- Triple Net
- May 2029
- Counseling
- Health Care and Social Assistance
- 1,208 SF
- $38.80 CAD
- Modified Gross
- Oct 2028
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Akadi | Accommodation and Food Services | 4,350 SF | $36.28 CAD | Triple Net | Aug 2027 | |
| Asian Imports | Services | 3,556 SF | $20.86 CAD | Triple Net | May 2029 | |
| Counseling | Health Care and Social Assistance | 1,208 SF | $38.80 CAD | Modified Gross | Oct 2028 |
Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (100)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R276051 | Improvements Assessment | $0 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $1,211,696 CAD (2025) |
PROPERTY TAXES
Parcel Number
R276051
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$1,211,696 CAD (2025)
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The Alexander | 1001 SE Division St
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