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714-724 NW Davis St
Portland, OR 97209
Office Property For Sale
·
69,060 SF
INVESTMENT HIGHLIGHTS
- LEED Gold Certified
- Pearl District Address
- Manageable six-owner association
EXECUTIVE SUMMARY
Originally built as the DeSoto auto showroom in 1915, this beautiful structure was completely updated under the skillful design and supervision of LRS Architects in 2007 who have resided there ever since. With pride of ownership exhibited in every material and finish, quality is evident throughout every area of the building from its luxurious entrance and lobby to the expansive Brazilian Ipe deck that resides on the rooftop.
PROPERTY FACTS
| Total Building Size | 69,060 SF | Typical Floor Size | 17,265 SF |
| Property Type | Office | Year Built | 1915 |
| Building Class | C | Lot Size | 0.46 AC |
| Floors | 4 | Opportunity Zone |
Yes
|
| Zoning | CXd, Portland | ||
| Total Building Size | 69,060 SF |
| Property Type | Office |
| Building Class | C |
| Floors | 4 |
| Typical Floor Size | 17,265 SF |
| Year Built | 1915 |
| Lot Size | 0.46 AC |
| Opportunity Zone |
Yes |
| Zoning | CXd, Portland |
AMENITIES
- Bus Line
2 UNITS AVAILABLE
Unit 714-716
| Unit Size | 4,408 SF | Sale Type | Investment |
| Condo Use | Retail |
| Unit Size | 4,408 SF |
| Condo Use | Retail |
| Sale Type | Investment |
DESCRIPTION
Beautifully-finished LEED Gold condominium unit in Portland’s DeSoto Building
SALE NOTES
Opened in 2007 as one of Portland’s most successful adaptive re-use projects and
spectacular commercial condominiums, the DeSoto Building has enjoyed little
turnover in ownership in its nearly 20 years of operation. With only five owners
comprising the owner’s association (including an architecture firm, museum,
photography studio, and two galleries), the DeSoto Building provides a terrific
investment that’s easy to own and operate instead of leasing.
+1 More
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Interior Photo
Unit 300
| Unit Size | 25,795 SF | Cap Rate | 11.55% |
| Condo Use | Office | NOI | $959,311.15 CAD |
| Sale Type | Investment |
| Unit Size | 25,795 SF |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 11.55% |
| NOI | $959,311.15 CAD |
DESCRIPTION
Condominium comprises the top two (2) floors
SALE NOTES
An immediate opportunity exists to acquire a 25,884 SF commercial condominium comprised of the top two floors of Portland’s DeSoto
Building, home to LRS Architects since 2007. With just over two years
remaining on the LRS lease, a new owner will have the option to either
pursue a renewal of lease with LRS Architects, re-lease to a different
tenant, or alternatively utilize the space itself as an owner-user in fall
of 2027. Regardless of what direction a new owner decides to take in
the future, however, they will do so enjoying an immediate 11.55% cap
rate return for the next two years.
