7131 Prescott St Portland, OR 97218-3512

Property Details for 7131 Prescott St

Year built

1950

Lot size

0.15 lot acres

Property size

3,150 SF

Zone code

CN2H

Property type

Retail space

APN

1N2E20BD 05400

APU

1N2E20BD05400

Description

This 3,150 square foot free-standing building in Portland's vibrant Roseway neighborhood is for sale at $725,000. The property, built in 1950 and situated on a 0.15-acre lot, features a mix of office and retail space currently 100% occupied under a gross lease expiring May 31, 2025. The building boasts newer systems and four off-street parking spaces, a significant advantage in this location. Zoned CM1, it offers excellent visibility on a high-traffic street and is conveniently located on a bus line. The current lease has a remaining term of 0.5 years, with a lease commencement date of August 31, 2023. The property presents a compelling investment opportunity with a 6.40% cap rate and a price per square foot of $230.16. Ideal for owner-users or investors seeking strong rental potential in a dynamic market, this property is well-suited for a variety of uses, including retail shops, professional offices, or a combination thereof. The single-story building consists of two units. This is a rare opportunity to acquire a well-located, income-producing property in a thriving Portland neighborhood. The property's prime location and flexible layout make it an attractive option for a wide range of tenants and business owners.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.59

Latitude

45.5556

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments