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Single-Tenant Office

Nathaniel West Building No. 1

711 SE Grand Ave, Portland, OR 97214

Listing Price: $3,200,000

Gross SF
13,192
Rentable SF
9,812
Price/Gross SF
$242.57
Lot Size
0.11 acres
Year Built
1892

Investment Overview

Marcus & Millichap is pleased to offer for sale the Nathaniel West Building No. 1 - a fully leased, single-tenant office building located in Southeast Portland. The property address is 711-719 SE Grand Ave, Portland, OR 97214. The gross building area is 13,192 square feet. This consists of 9,812 square feet of above-grade retail and office space across three floors as well as 3,380 square feet of unfinished basement space. The building is situated on a 0.11-acre parcel of land that is zoned EX - Central Employment, which allows for a variety of uses including retail, office and multi-family. Built in 1892, the building was extensively renovated in 2007 and 2008. These renovations included a new roof, electrical, plumbing, fire sprinkler system, seismic upgrades, interior improvements, bathrooms, showers and a bike storage facility. The ground floor was also renovated in 2019 to accommodate the tenant expanding into that space. The building consists of open plan and executive suite office space. There are two bathrooms, kitchens and conference rooms on every floor. Each floor has at least two forms of ingress and egress. The basement is used as dead storage. The property is 100% leased to Alta Planning + Design who has operated their Portland office out of this this location since August 2008. The tenant pays all utilities as well as repairs and maintenance costs. The Landlord pays taxes, insurance and management (optional). Landlord is responsible for roof, exterior walls, structural and other major capital expenditures. The building is on the National Historic Registry and is currently benefitting from a Historic Property Program that reduces the property taxes. This program expires at the end of June 2023, and Year 2 in the financial section reflects this anticipated increase.

Investment Highlights

  • 100% Leased, Single-Tenant Office Building
  • Three (3) Years of Lease Term Remaining
  • Located Less Than One (<1) Mile from Downtown Portland
  • Extensive Renovations in 2007-2008 and 2019
  • Building is on the National Historic Registry
  • Benefits from Historic Tax Program until July 2023
  • Fenced, Outdoor Patio Space in the Rear of the Building
  • Two (2) Bathrooms, Kitchens and Conference Rooms on Every Floor

Exclusively Listed By

Single-Tenant Office

Nathaniel West Building No. 1

Listing Price: $3,200,000

Gross SF
13,192
Rentable SF
9,812
Price/Gross SF
$242.57
Lot Size
0.11 acres
Year Built
1892

Investment Highlights

  • 100% Leased, Single-Tenant Office Building
  • Three (3) Years of Lease Term Remaining
  • Located Less Than One (<1) Mile from Downtown Portland
  • Extensive Renovations in 2007-2008 and 2019
  • Building is on the National Historic Registry
  • Benefits from Historic Tax Program until July 2023
  • Fenced, Outdoor Patio Space in the Rear of the Building
  • Two (2) Bathrooms, Kitchens and Conference Rooms on Every Floor

Investment Overview

Marcus & Millichap is pleased to offer for sale the Nathaniel West Building No. 1 - a fully leased, single-tenant office building located in Southeast Portland. The property address is 711-719 SE Grand Ave, Portland, OR 97214. The gross building area is 13,192 square feet. This consists of 9,812 square feet of above-grade retail and office space across three floors as well as 3,380 square feet of unfinished basement space. The building is situated on a 0.11-acre parcel of land that is zoned EX - Central Employment, which allows for a variety of uses including retail, office and multi-family. Built in 1892, the building was extensively renovated in 2007 and 2008. These renovations included a new roof, electrical, plumbing, fire sprinkler system, seismic upgrades, interior improvements, bathrooms, showers and a bike storage facility. The ground floor was also renovated in 2019 to accommodate the tenant expanding into that space. The building consists of open plan and executive suite office space. There are two bathrooms, kitchens and conference rooms on every floor. Each floor has at least two forms of ingress and egress. The basement is used as dead storage. The property is 100% leased to Alta Planning + Design who has operated their Portland office out of this this location since August 2008. The tenant pays all utilities as well as repairs and maintenance costs. The Landlord pays taxes, insurance and management (optional). Landlord is responsible for roof, exterior walls, structural and other major capital expenditures. The building is on the National Historic Registry and is currently benefitting from a Historic Property Program that reduces the property taxes. This program expires at the end of June 2023, and Year 2 in the financial section reflects this anticipated increase.

Exclusively Listed By

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