12215 Powell Blvd Portland, OR 97236-3429

Property Details for 12215 Powell Blvd

Year built

1999

Lot size

0.34 lot acres

Property size

14,208 SF

Zone code

CN2

Property type

Office Properties & Spaces

APN

1S2E11BC 11000

APU

1S2E11BC11000

Description

This fee-simple medical office building in Portland, Oregon, presents a compelling investment opportunity. The 13,346 square foot property is 100% occupied by Octapharma Plasma under a triple-net (NNN) lease with a corporate guarantee, offering minimal landlord responsibilities. The lease, commencing December 22, 2019, and expiring December 30, 2029, has over five years remaining, with three five-year renewal options. Built in 1999 and renovated in 2021, the building sits on a 1.16-acre lot with 59 parking spaces and benefits from varying rental increases beginning January 2025, ensuring future NOI growth. The property boasts a 7.25% cap rate and a Net Operating Income (NOI) of $265,585, with a price per square foot of $274.48. Located at 12215 SE Powell Boulevard, Portland, OR 97236, in the CM1 (Commercial Mixed Use) zone, the property enjoys a high-traffic location near major retail centers like Powell Villa and Division Center, and benefits from proximity to David Douglas High School and a strong demographic profile with high average household incomes within a five-mile radius. The property's prime location and long-term lease with a creditworthy tenant make it an attractive investment with significant upside potential. The asking price is $3,663,241. APN: 1S2E11BC 11000 & 1S2E11BC 10900.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.537

Latitude

45.4974

CBSA code

38900

CBSA name

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

Property Tax & Assessments