8223-8239 13Th Ave Portland, OR 97202
- Retail properties
- 6,377 SF
Current Use by Public Records
- Retail properties
Property Details for 8223-8239 13Th Ave
- Year built
- 1902
- Property size
- 6,377 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property, located at 8223-8239 SE 13th Ave in Portland, Oregon's desirable Sellwood neighborhood, presents a compelling investment opportunity. The 6,377 square foot building, constructed in 1902, sits on a 10,000 square foot lot and is currently fully leased to nine tenants, boasting a history of stable occupancy and strong demand. The property's prime location within the vibrant Sellwood district ensures consistent foot traffic, surrounded by a diverse mix of dining, shopping, and recreational options. Its convenient proximity to major highways and public transit further enhances its appeal. The building benefits from an established tenant base with historically low vacancy, providing dependable income potential. All tenants are subject to annual rent increases, contributing to the property's strong financial performance. The land value is $313.62 per square foot, and the asking price is $2,000,000, representing a 4.87% cap rate. This property is zoned Commercial Mixed Use 1 (CM1), offering flexibility and potential for future development. This is an excellent investment opportunity in a high-demand area with enduring appeal. The property's strong tenant base, prime location, and attractive financial metrics make it an ideal addition to any investment portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.653
- Latitude
- 45.4631
