4937-4941 NE Fremont St Portland, OR 97213
Newer investment retail condominium with stable tenants and strong rent.
Property Features for 4937-4941 NE Fremont St
General Information
- Zoning
- EG1
Source:
Macadamforbes
Listing Agent: Dann Wonser
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Beaumont Neighborhood Retail Condominium
This newer investment retail condominium is located in the Beaumont neighborhood. The property operates at a 6.1% cap rate with stable tenants and demonstrates strong rent growth. All tenants are original, with over nine years of tenancy, and have either five, six, or seven years remaining on their lease terms. All tenants have 3% annual rent increases. All landlord responsibilities are handled by property management and the HOA, and all expenses, including property management, are pass-through. The neighborhood has a median income 62.5% above the city average, and a 6.5% projected population growth in the next five years. The HOA has healthy reserves. The rent roll, income, and cap rate are effective as of September 1, 2019.
Location Intelligence
Current Use by Public Records
Strip malls
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.6115794
- Latitude
- 45.5486339
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FAQs
What type of property is this?
Strip mall - Newer investment retail condominium with stable tenants and strong rent.
Where is this strip mall located?
The property is located at 4937-4941 NE Fremont St Portland, OR.
What are key features of this property?
This property features: - 6.1% Cap rate with stable tenants and strong rent growth.; - All tenants are original (9+ years), recession-tested, and have long lease terms (5-7 years remaining).; - Located in a desirable NE Fremont neighborhood with high median income (62.5% above city average) and projected population growth (6.5% in 5 years).