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1621-1637 SE Hawthorne Blvd 9,770 SF 27% Leased Retail Building Portland, OR 97214 $3,045,900 CAD ($311.76 CAD/SF) 8.96% Cap Rate
INVESTMENT HIGHLIGHTS
- Seller Financing Available - 30% Down | 5% Interest | 30 Year Am | 5 Year Term
- 7,100 SF Retail / Warehouse Space w/ 14 Ft Clear Height and Sprinklers
- Barley Mill Pub is the First McMenamins Location Ever | Tenant Since 1983
- Well Maintained Building with Short Term Leases and Below Market Rents
- Hyper Dynamic Location at the Corner of SE 17th Ave & SE Hawthorne Blvd
- Average Household Income is $123,000+ within a 3 Mile Radius
EXECUTIVE SUMMARY
Nathan Drake with Marcus & Millichap has been selected to exclusively market for sale the property located at 1621-1637 SE Hawthorne Blvd in Southeast Portland, Oregon. The building consists of 9,770 square feet of leasable area and is currently 100% leased to (2) tenants. The Barley Mill Pub is a bar and restaurant, and it is the first McMenamins location opened. They have been a tenant in the building since 1983. PJs Sleep Shop is a locally owned mattress retailer, and they have been a tenant in the building since 1979. Both tenants are on short term leases and paying well below the current market rental rates on Hawthorne. The roof was replaced in 2014 and the building has been well maintained by the current owners. Seller Financing is available for qualified Buyers with the following terms: 30% Down | 5% Interest | 30 Year Am | 5 Year Term.
Please contact Nathan Drake to schedule any property tours. Please do not disturb the tenants.
Nathan Drake
(503) 616-8962
nathan.drake@marcusmillichap.com
Please contact Nathan Drake to schedule any property tours. Please do not disturb the tenants.
Nathan Drake
(503) 616-8962
nathan.drake@marcusmillichap.com
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
9,770 SF
Building Class
C
Year Built
1924
Price
$3,045,900 CAD
Price Per SF
$311.76 CAD
Cap Rate
8.96%
NOI
$272,913 CAD
Percent Leased
27%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.02
Lot Size
0.22 AC
Zoning
CM2 - Commercial Mixed-Use 2 allows for a wide range of uses including, but not limited to, retail, office and residential.
Frontage
100’ on Hawthorne Blvd
AMENITIES
- Bus Line
- Pylon Sign
- Signage
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R196928 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $718,299 CAD |
PROPERTY TAXES
Parcel Number
R196928
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$718,299 CAD
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1621-1637 SE Hawthorne Blvd
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