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Mixed-Use

Portland Ice Cream Co. Building

1200 N Killingsworth St, Portland, OR 97217

Listing Price: $1,500,000

Cap Rate
11.20%
Number of Suites
10
Gross SF
7,500
Rentable SF
7,500
Price/Gross SF
$200.00
Lot Size
0.23 acres
Year Built
1927

Investment Overview

The brick mixed-use multi tenant building and extra lot at 1200-1220 N Killingsworth presents a unique opportunity for an investor to generate multiple streams of income by utilizing the improvements made by the previous owner, a beloved local entrepreneur who ran Future Pops Ice Cream's manufacturing, storage and distribution as well as several restaurants including Future Bar, The Tardis Room and The Fish & Chip Shop. Located in Portland's desirable Overlook neighborhood the property is situated in an ideal location for walkable retail and industrial cold storage one block from I-5. The property consists of 6 suites with bathrooms in a 7,500 square foot building. Local businesses have consistently reached out in need of space for lease including a signed lease that was not pursued which is available for review with a submitted offer. Several elements of previous businesses including fixtures, intellectual property and established distribution contacts are available as well, please contact broker Jason VanAbrams for details at 503-200-2027.

A major element of the Pro-Forma analysis includes the 7,200 cubic foot walk-in freezer measuring 50'x12'x12' in a warehouse space with high ceilings, built-in loft and roll-up door. With fully built out restaurant, bar, retail, office and commercial kitchen space in separate suites with dedicated entries, each space may be leased at a much higher rate depending on tenant, use and improvements.

Developers have expressed interest as the two lots are on an easily accessible corner totaling 10,000 square feet with CM3 zoning. New construction in the neighborhood is typically 6-7 stories with multifamily over ground floor retail; parking is not required in this configuration although pure residential is allowable with parking. Buyer to perform all due diligence.

Investment Highlights

  • Multiple Cashflow Options with up to 6 Leased Suites
  • 7200 Cubic Foot Freezer Accessible by Roll-Up Door
  • Ideal location on North Killingsworth at I-5 with CM3 Mixed Use Zoning

Exclusively Listed By

Financing By

Mixed-Use

Portland Ice Cream Co. Building

Listing Price: $1,500,000

Cap Rate
11.20%
Number of Suites
10
Gross SF
7,500
Rentable SF
7,500
Price/Gross SF
$200.00
Lot Size
0.23 acres
Year Built
1927

Investment Highlights

  • Multiple Cashflow Options with up to 6 Leased Suites
  • 7200 Cubic Foot Freezer Accessible by Roll-Up Door
  • Ideal location on North Killingsworth at I-5 with CM3 Mixed Use Zoning

Investment Overview

The brick mixed-use multi tenant building and extra lot at 1200-1220 N Killingsworth presents a unique opportunity for an investor to generate multiple streams of income by utilizing the improvements made by the previous owner, a beloved local entrepreneur who ran Future Pops Ice Cream's manufacturing, storage and distribution as well as several restaurants including Future Bar, The Tardis Room and The Fish & Chip Shop. Located in Portland's desirable Overlook neighborhood the property is situated in an ideal location for walkable retail and industrial cold storage one block from I-5. The property consists of 6 suites with bathrooms in a 7,500 square foot building. Local businesses have consistently reached out in need of space for lease including a signed lease that was not pursued which is available for review with a submitted offer. Several elements of previous businesses including fixtures, intellectual property and established distribution contacts are available as well, please contact broker Jason VanAbrams for details at 503-200-2027. A major element of the Pro-Forma analysis includes the 7,200 cubic foot walk-in freezer measuring 50'x12'x12' in a warehouse space with high ceilings, built-in loft and roll-up door. With fully built out restaurant, bar, retail, office and commercial kitchen space in separate suites with dedicated entries, each space may be leased at a much higher rate depending on tenant, use and improvements. Developers have expressed interest as the two lots are on an easily accessible corner totaling 10,000 square feet with CM3 zoning. New construction in the neighborhood is typically 6-7 stories with multifamily over ground floor retail; parking is not required in this configuration although pure residential is allowable with parking. Buyer to perform all due diligence.

Exclusively Listed By

Financing By

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