1804 Broadway Portland, OR 97232

Property Details for 1804 Broadway

Year built

1971

Lot size

0.21 lot acres

Property size

5,000 SF

Property type

Warehouses

Property subtype

Specialty properties

Description

This exceptional investment opportunity presents a 5,000 square foot, Class A, single-tenant industrial property located at 1804 NE Broadway, Portland, Oregon 97232. The property, built in 1971 and extensively renovated in 2022, boasts a 15-foot ceiling height and ample parking (8 spaces) on a 0.21-acre lot. Currently occupied by Speedy Novus Glass, a credit-rated tenant with a long history (since 1994) at this location, the property is under a Net Lease (NNN) agreement with a remaining term of approximately 3.1 years (commencing January 1, 2023, and expiring December 31, 2027). The lease includes two five-year renewal options. The property generates a strong Net Operating Income (NOI) of $81,991, resulting in an attractive 4.97% capitalization rate. Recent improvements include a new warehouse heating system, electrical panel, elastomeric roof covering, roof drains and downspouts, overhead door, and exterior paint. The parking lot was also recently resealed and restriped. The property is zoned CS Storefront Commercial, offering potential for future development. This is a direct sale by owner, offering a rare chance to acquire a stable, high-performing asset in a desirable Portland location. The property is easily accessible and situated in a walkable neighborhood with high foot traffic and convenient public transportation. Please contact the owner directly to schedule a showing

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.647

Latitude

45.5347