11222 Main StMilwaukie, OR 97222

Property Details for 11222 Main St

Year built

1965

Lot size

0.37 AC

Property size (Sq ft)

7,850 SF

Zone code

DO

Property type

Other commercial real estate

APN

11E36BC03100

APU

11E36BC03100

Description

Exceptional investment opportunity in vibrant Downtown Milwaukie, Oregon. This portfolio comprises two Class A retail buildings totaling 16,888 square feet on a combined 34,440 square foot lot. Building 11138, a 5,546 square foot single-tenant structure, is leased to a local tech company, while the adjacent 11,342 square foot Building 11222 houses two tenants: the United States Postal Service (USPS), holding an investment-grade credit rating (AA+), with a recently signed five-year lease extension, and a specialty retailer. Both buildings boast strong occupancy and benefit from annual 3% rent increases for two of the tenants. Constructed in 1965, the property features 30 parking spaces and is zoned Downtown Mixed-Use (DMU), offering flexible redevelopment potential. The strategic location on Main Street provides convenient access to TriMet's Max Light Rail Orange Line and bus service, enhancing visibility and accessibility. Below-market rents for some tenants present a significant opportunity for future income growth. The fee-simple ownership offers a stabilized investment with a 7.00% cap rate and an asking price of $3,075,000. This prime location in a thriving downtown area, coupled with the strong tenant mix and flexible zoning, makes this a compelling investment prospect.

Location Insight

City

Milwaukie

County

Clackamas

State

Oregon

Latitude

45.4415

Longitude

-122.64

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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