Leased FedEx Office Retail
221 SW Alder St Portland, OR 97204
For Sale
Contact for pricing
Long-term FedEx Office tenant with dedicated parking supports a straightforward, low landlord-responsibility investment.
Property Size11,600 SF
Price / SF$366.38
Days on Market58
Property Features for 221 SW Alder St
General Information
- Standard status
- Active
- Size
- 11,600 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1956
Listing Agency:
Commercial Realty Advisors Northwest LLC
(503) 274-0211
Listed By:
Ashley Heichelbech · License #OR 200509097
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 22 at 2:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Realty Advisors Northwest LLC
Investment Insights
Based on property information with market context.
This retail storefront property has been occupied by FedEx Office for more than 30 years. The site is leased to a long-term, credit-rated tenant, and the existing lease is described as having minimal landlord responsibilities, supporting an operationally simple ownership structure.
The property is positioned at the gateway to Portland’s central business district. Dedicated parking is available at Alder St and 2nd Ave, and the location is described as providing convenient access to both residential neighborhoods and the city’s cultural core, surrounded by office towers and hotels. The site also has direct access to East Portland via the Morrison Bridge.
For buyers or investors seeking leased retail exposure with a long-standing tenant, the current FedEx Office occupancy and minimal landlord responsibilities are the primary considerations. The offering also notes the possibility of future redevelopment, providing an additional consideration for operators evaluating long-term site strategy while maintaining income from the existing lease.
The property is positioned at the gateway to Portland’s central business district. Dedicated parking is available at Alder St and 2nd Ave, and the location is described as providing convenient access to both residential neighborhoods and the city’s cultural core, surrounded by office towers and hotels. The site also has direct access to East Portland via the Morrison Bridge.
For buyers or investors seeking leased retail exposure with a long-standing tenant, the current FedEx Office occupancy and minimal landlord responsibilities are the primary considerations. The offering also notes the possibility of future redevelopment, providing an additional consideration for operators evaluating long-term site strategy while maintaining income from the existing lease.
Key Highlights
- 1956 building with long‑term FedEx Office tenant in place for over 30 years
- Long‑term, credit‑rated tenant supports stable cash flow
- Existing lease has minimal landlord responsibilities
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $208.8k | $18.00 |
| − Vacancy | −$15.7k | −$1.35 |
| EGI | $193.1k | $16.65 |
| − OpEx | −$57.9k | −$5.00 |
| NOI | $135.2k | $11.66 |
11,600 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.25M
NOI $135,198 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $228,030 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
FedEx Office Print ...
Courier Service
FedEx Drop Box
Postal Service
Rush My Passport
Travel Agency
SALVAGEDATA Recovery Services
Computer & Electronic Repair
BHS221
Restaurant
Similar Off Market Nearby
- knot & fern — 911 SE Salmon St, Portland, OR 97214, United States
- Landeau | Portland — 555 SW Oak St, Portland, OR 97204, United States
FAQs
What type of property is this?
Storefront property - Long-term FedEx Office tenant with dedicated parking supports a straightforward, low landlord-responsibility investment.
Where is this storefront property located?
The property is located at 221 SW Alder St Portland, OR.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 1956 building with long‑term FedEx Office tenant in place for over 30 years; Long‑term, credit‑rated tenant supports stable cash flow; Existing lease has minimal landlord responsibilities
