1103 7th Ave Portland, OR 97214-2468

This Portland, Oregon storefront presents a compelling investment opportunity. The 6,000-square-foot property, located at 1103 SE 7th Ave in Multnomah County (zip code 97214), is currently 100% occupied by Mr. Formal, under a triple-net (NNN) lease commencing January 1, 2018. The single-tenant building sits on a 10,000-square-foot lot and boasts ten dedicated parking spaces. Built in 1953, this one-story structure is zoned IG1 and offers a strong cap rate of 6.38%, generating a net operating income (NOI) of $102,101. The asking price is $1,600,000, translating to $260 per square foot and $160 per square foot for the land. Its prime location, two blocks from OR-99 (a major thoroughfare with 51,573 vehicles per day), within a high-spending Portland district ($817.1 million in annual consumer spending), makes this an attractive owner-user or passive investment opportunity. This exceptional property offers a stable income stream and significant potential for future growth. The property is an ideal investment for those seeking a strong return in a vibrant Portland market.