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Urban-High Street

1425 NW 23rd Ave

1425 NW 23rd Ave, Portland, OR 97210

Listing Price: $1,000,000

Cap Rate
7.55%
Tenant Name
Mary Jane's House of Glass
Gross SF
1,898
Guarantor
Personal Guarantee
Rentable SF
1,898
Price/Gross SF
$526.87
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$49.37

Investment Overview

Marcus & Millichap is pleased to offer for sale a net leased investment opportunity located at 1425 NW 23rd Ave, Portland, OR 97210. The asset, a retail condominium located in the Cornerstone at Pettygrove Condominiums, consists of 1,898 total square feet and is currently 100% occupied. The subject property is ideally located on one of Portland’s most trafficked and trendy shopping streets. Northwest 23rd Avenue is lined with many restaurants, coffee shops, and local cafes mixed with clothing boutiques and other upscale retail and services. The subject property has been occupied by the same tenant, Mary Jane's House of Glass, for over fifteen years. Since lease expiration in October of 2020, the tenant has continued to occupy the commercial space on a month-to-month basis with zero delinquencies throughout the pandemic. The tenant would like to stay and execute a new five-year triple net lease at closing. Lease rate and terms are negotiable. Due to the current month-to-month tenancy, this unique offering presents an opportunity for both investors and owner-users.

Investment Highlights

  • Great Location on Northwest 23rd Avenue
  • 100% Occupied
  • Established Long Term Tenants
  • Walk and Bike Score of 97 out of 100
  • NNN Lease - Minimal Landlord Responsibilities
  • Owner/User Opportunity
  • Negotiable Lease Rate & Terms

Exclusively Listed By

Urban-High Street

1425 NW 23rd Ave

Listing Price: $1,000,000

Cap Rate
7.55%
Tenant Name
Mary Jane's House of Glass
Gross SF
1,898
Guarantor
Personal Guarantee
Rentable SF
1,898
Price/Gross SF
$526.87
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$49.37

Investment Highlights

  • Great Location on Northwest 23rd Avenue
  • 100% Occupied
  • Established Long Term Tenants
  • Walk and Bike Score of 97 out of 100
  • NNN Lease - Minimal Landlord Responsibilities
  • Owner/User Opportunity
  • Negotiable Lease Rate & Terms

Investment Overview

Marcus & Millichap is pleased to offer for sale a net leased investment opportunity located at 1425 NW 23rd Ave, Portland, OR 97210. The asset, a retail condominium located in the Cornerstone at Pettygrove Condominiums, consists of 1,898 total square feet and is currently 100% occupied. The subject property is ideally located on one of Portland’s most trafficked and trendy shopping streets. Northwest 23rd Avenue is lined with many restaurants, coffee shops, and local cafes mixed with clothing boutiques and other upscale retail and services. The subject property has been occupied by the same tenant, Mary Jane's House of Glass, for over fifteen years. Since lease expiration in October of 2020, the tenant has continued to occupy the commercial space on a month-to-month basis with zero delinquencies throughout the pandemic. The tenant would like to stay and execute a new five-year triple net lease at closing. Lease rate and terms are negotiable. Due to the current month-to-month tenancy, this unique offering presents an opportunity for both investors and owner-users.

Exclusively Listed By

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