1001-1015 Division St Portland, OR 97201

Property Details for 1001-1015 Division St

Year built

1900

Lot size

0.19 lot acres

Property size

9,114 SF

Property type

Warehouses

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a fully leased, mixed-use property located at 1001-1015 SE Division Street in Portland, Oregon. The 9,114 square foot property, built in 1900 and renovated in 2017, sits on a 0.19-acre lot and features two buildings with two stories. The property boasts a diverse tenant mix including a restaurant, an Asian import specialist, and a private counseling service, ensuring a stable income stream. The current occupancy is 100%, generating a Net Operating Income (NOI) of $198,803, resulting in a 6.63% cap rate. The asking price is $3,000,000, translating to $329.16 per square foot. The property is zoned IG-1 Industrial Service and benefits from a triple-net (NNN) lease structure with rent bumps included. Key features include one loading dock, and a highly visible location on Division Street, within a vibrant dining and retail district. Its proximity to the Clinton St/12th Ave MAX Station, freeway access, TriMet bus routes, and MAX light rail provides excellent accessibility. Nearby attractions include Cartopia and Asylum food carts, and Ladd's Addition Rose Gardens further enhance its desirability. One tenant, Akadi, occupies 4350+ square feet, including a built-out kitchen with a hood, bar, ample seating, outdoor access, and office space. Another 3556+ square feet is leased to an Asian import specialist, while 1208+ square feet of second-story office space includes a rooftop patio. This property offers a compelling combination of strong cash flow, diverse tenancy, and a prime location in a thriving Portland neighborhood.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.655

Latitude

45.5051