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949 NW Overton St - The Encore 1,400 SF Retail Condo Unit Offered at $921,518 CAD in Portland, OR 97209
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | R619844 |
| Cap Rate | 5.98% |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| APN/Parcel ID | R619844 |
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 | 1,400 SF | Retail | $921,518 CAD ($658.23 CAD/SF) | $55,097.15 CAD |
Unit Retail
| Unit Size |
| 1,400 SF |
| Condo Use |
| Retail |
| Price |
| $921,518 CAD ($658.23 CAD/SF) |
| NOI |
| $55,097.15 CAD |
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Unit Retail
| Unit Size | 1,400 SF |
| Condo Use | Retail |
| Price | $921,518 CAD ($658.23 CAD/SF) |
| NOI | $55,097.15 CAD |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| APN/Parcel ID | R619844 |
| 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 | 310,032 SF | Typical Floor Size | 19,377 SF |
| Property Type | Multifamily (Condo) | Year Built | 2008 |
| Property Subtype | Apartment | Lot Size | 1.05 AC |
| Building Class | B | Parking Ratio | 0.89/1,000 SF |
| Floors | 16 | Opportunity Zone |
Yes
|
| Zoning | EX | ||
| Total Building Size | 310,032 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 16 |
| Typical Floor Size | 19,377 SF |
| Year Built | 2008 |
| Lot Size | 1.05 AC |
| Parking Ratio | 0.89/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | EX |
Amenities
Site Amenities
- 24 Hour Access
- Business Center
- Controlled Access
- Fitness Center
- Package Service
- Storage Space
- Conference Rooms
- Elevator
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 77 | - | 1,589 |
| 3+3 | 50 | - | 2,292 |
| 4+5 | 50 | - | 3,989 |
Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Very bikeable
80/100
1 of 6
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Matterport 3D Exterior
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Photos
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949 NW Overton St - The Encore
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