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1130 NW 12th Ave
Portland, OR 97209
Bridgeport Condominiums · Retail Property For Sale
1 Unit Available
Unit Retail
| Unit Size | 7,560 SF | Cap Rate | 6.49% |
| Condo Use | Retail | NOI | $342,245.93 CAD |
| Sale Type | Investment | APN/Parcel ID | R540049, R540050, R540051, R540052, R540053, R540054 |
| Unit Size | 7,560 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 6.49% |
| NOI | $342,245.93 CAD |
| APN/Parcel ID | R540049, R540050, R540051, R540052, R540053, R540054 |
Sale Notes
The Blocks Portfolio presents a rare opportunity to acquire any combination of up to ten ground floor retail condo properties in the heart
of Portland’s Pearl District. Encompassing over 94,000 square feet of urban retail spanning ten mixed-use buildings, all within a seven-block
radius, the portfolio is strategically embedded within 1,200+ residential units with an annual walking population of 32M. The Offering is for the
retail condominium interest of each building and may be purchased individually or in any combination of units. The Properties are positioned
within the Pearl District, a dense, walkable, high-income neighborhood that has outperformed all of urban Portland in both occupancy, rents,
and tenant sales. The Blocks Portfolio offers a primarily service-based tenant lineup accounting for over 50% of leased square footage, with the
majority occupied by personal services and restaurant uses. With a mix of fully stabilized assets to heavy value-add (including the potential for
owner-occupancy), the flexibility will allow investors to curate a variety of investment strategies. The offering also provides the ability to establish
significant scale in Portland’s most supply-constrained retail corridor with an overall occupancy of 69%.
Property Facts
| Total Building Size | 176,303 SF | Typical Floor Size | 13,330 SF |
| Property Type | Multifamily (Condo) | Year Built | 2004 |
| Property Subtype | Apartment | Lot Size | 0.92 AC |
| Building Class | B | Opportunity Zone |
Yes
|
| Floors | 7 | ||
| Zoning | EX - Commercial/Residential EXd | ||
| Total Building Size | 176,303 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 7 |
| Typical Floor Size | 13,330 SF |
| Year Built | 2004 |
| Lot Size | 0.92 AC |
| Opportunity Zone |
Yes |
| Zoning | EX - Commercial/Residential EXd |
Amenities
Site Amenities
- 24 Hour Access
- Controlled Access
- Package Service
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 55 | - | 750 - 911 |
| 2+2 | 68 | - | 1,346 - 1,392 |
