1540 SE Martins St Portland, OR 97202

This commercial condominium is located on Milwaukie Avenue in the Westmoreland neighborhood. The property is occupied by Cadence Academy, owner of Creative Minds, since January 2009. The tenant has ten years remaining on the current lease term, with 3% annual rent increases. Cadence Academy has 240 locations nationally and seven in the Portland area. The property is located in an area with traffic visibility of 14,636 cars per day and a median household income of $80,562. The location has a Walk Score of 86, a Bike Score of 99, and two bus lines within a five minute walk. The current 4,239 square foot space can easily be divisible into four independent spaces with separate storefronts and HVAC. The property is a condominium structure, with normal property management duties managed by the HOA. HOA dues include building insurance, exterior maintenance, water/sewer, and garbage. The roof is a TPO roof originally installed in 2009 and inspected in 2019. The exterior siding is Canadian Tight Knot Cedar, with a complete exterior restoration in 2019 that included new caulking and two coats of Benjamin Moore paint. The HVAC systems have been serviced every quarter by Jacobs Heating since 2009. The windows and patio doors are Anderson 400 series. Cadence Academy is licensed for up to 87 children.