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1255 NW 9th Ave - The Pinnacle Condominiums 7,415 SF Retail Condo Unit Offered at $6,336,902 CAD in Portland, OR 97209
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | R567402, R567403, R567404 |
| Cap Rate | 6.25% |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| APN/Parcel ID | R567402, R567403, R567404 |
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%.
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%.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit Retail | 7,415 SF | Retail | $6,336,902 CAD ($854.61 CAD/SF) | $395,991.01 CAD |
Unit Retail
| Unit Size |
| 7,415 SF |
| Condo Use |
| Retail |
| Price |
| $6,336,902 CAD ($854.61 CAD/SF) |
| NOI |
| $395,991.01 CAD |
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Unit Retail
| Unit Size | 7,415 SF |
| Condo Use | Retail |
| Price | $6,336,902 CAD ($854.61 CAD/SF) |
| NOI | $395,991.01 CAD |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| APN/Parcel ID | R567402, R567403, R567404 |
| 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 <br> of Portland’s Pearl District. Encompassing over 94,000 square feet of urban retail spanning ten mixed-use buildings, all within a seven-block <br> radius, the portfolio is strategically embedded within 1,200+ residential units with an annual walking population of 32M. The Offering is for the <br> retail condominium interest of each building and may be purchased individually or in any combination of units. The Properties are positioned <br> within the Pearl District, a dense, walkable, high-income neighborhood that has outperformed all of urban Portland in both occupancy, rents, <br> and tenant sales. The Blocks Portfolio offers a primarily service-based tenant lineup accounting for over 50% of leased square footage, with the <br> majority occupied by personal services and restaurant uses. With a mix of fully stabilized assets to heavy value-add (including the potential for <br> owner-occupancy), the flexibility will allow investors to curate a variety of investment strategies. The offering also provides the ability to establish <br> significant scale in Portland’s most supply-constrained retail corridor with an overall occupancy of 69%.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 323,358 SF | Typical Floor Size | 23,097 SF |
| Property Type | Multifamily (Condo) | Year Built | 2005 |
| Property Subtype | Apartment | Lot Size | 1.00 AC |
| Building Class | B | Parking Ratio | 0.77/1,000 SF |
| Floors | 15 | Opportunity Zone |
Yes
|
| Zoning | EX - central employment zone | ||
| Total Building Size | 323,358 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 15 |
| Typical Floor Size | 23,097 SF |
| Year Built | 2005 |
| Lot Size | 1.00 AC |
| Parking Ratio | 0.77/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | EX - central employment zone |
Amenities
Site Amenities
- Courtyard
- Roof Terrace
- Storage Space
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 176 | - | - |
Very walkable
80/100
Fairly drivable
50/100
Strong public transit
80/100
Exceptionally bikeable
90/100
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1255 NW 9th Ave - The Pinnacle Condominiums
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