flexible retail building 10,654 sq ft

Transcription

1 URBAN NEST COMMERCIAL REALTY FOR sale flexible retail building 10,654 sq ft 3003 NE Alberta ST. A rare find in the heart of Portland s Alberta District, this property is an excellent for a retail concept. Building: 7,327 Sq ft Parking lot: 3,327 sq ft combined: 10,654 sq ft offered at $2,495,000 Eli Haworth-Kaufka eli@workspacepdx.com howard greenfield howard@workspacepdx.com

2 site overview located across from the alberta rose theatre ideal location for a retail concept Building: 7,327 Sq ft Parking lot: 3,327 sq ft combined: 10,654 sq ft 2 Restrooms b (business) occupancy throughout building New Facade Improvements for Alberta Frontage Permitted Proposed retail spaces clean phase 2 environment Map Data 2018 Google

3 ZONING DESCRIPTION Development opportunity is strong with this property. This.24 acre, 10,600 square foot lot with CM2 zoning allows for a wide variety of uses, including mixed use development, apartments, retail, office, and commercial. No parking requirements. The CM2 zone is a medium-scale, commercial mixed use zone intended for sites in a variety of centers and corridors, in other mixed use areas that are well served by frequent transit, or within larger areas zoned for multidwelling development. Buildings in this zone are generally expected to be up to four stories, except in locations where bonuses allow up to five stories. Please contact broker for development packet

4 portland demographics Portland is ranked 19th on the list of US metro areas with the greatest numbers of new residents, according to OregonMetro.gov. Population has grown over 20% in the past 10 years and is projected to reach 3,000,000 residents in the next 10 years. All information provided from third party deemed reliable. Independent verification suggested. Copyrighted report licensed to Workspace Commercial.

5 Floor plan with elevation view This 7,287 square foot building is a fantstic that has been thoroughly prepped for future tenants TI s and features Solar panels, a roll up door, and AMP power service. A great existing venue for a thriving retail location. Quoted market rents in the neighborhood are $25-$28 per square foot.

6 Proforma scenario Potential Tenant Scenario Building SF Price/SF Annual Rents Cap rate Building Value Alberta Frontage 2500 $28.00 $70, NE 30th Ave Frontage 4787 $25.00 $119, Total $189, % $3,448, Any data presented in this advertising has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warrant or representation regarding its accuracy. It is the buyer s responsibility to confirm accuracy and completeness. Projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Actual value, taxes, income and other concerns should be evaluated by your tax, financial and legal advisors. Independent investigation of the property and income should be performed by professionals to determine if this property is suitable for your use. income opportunity

7 neighboring businesses