The Frances Building | 3632-3646 SE Hawthorne Blvd
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The Frances Building 3632-3646 SE Hawthorne Blvd
14,915 SF 100% Leased Retail Building Portland, OR 97214 £4,682,281 (£314/SF) 4.99% Net Initial Yield
EXECUTIVE SUMMARY
This is an amazing opportunity to acquire a turnkey, apartment-retail complex in the heart of the Hawthorne Shopping District. Seven apartments above 4 retail businesses. PLEASE DO NOT INQUIRE OR CONTACT ANY TENANTS OR VISIT PROPERTY WITHOUT AND APPOINTMENT. Property is tax assessed at $6,380,510 and is listed at $5,887,500, a 5 cap. Well maintained apartments, mostly remodeled, and stable. Offers subject to interior inspection. NNN leases on retail. Tenants pay electric and are billed back for water. Landlord pays trash. Located adjacent to the Bagdad Theater. Commercial Tenants include Harlow Cafe, Echo Theater, Moberi and Portland Cider Co. Again please do not inquire with tenants.
FINANCIAL SUMMARY (ACTUAL - 2020) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£254,050
|
£17.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£254,050
|
£17.03
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£18,853
|
£1.26
|
| Net Operating Income |
£235,196
|
£15.77
|
FINANCIAL SUMMARY (ACTUAL - 2020)
| Gross Rental Income | |
|---|---|
| Annual | £254,050 |
| Annual Per SF | £17.03 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £254,050 |
| Annual Per SF | £17.03 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £18,853 |
| Annual Per SF | £1.26 |
| Net Operating Income | |
|---|---|
| Annual | £235,196 |
| Annual Per SF | £15.77 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,915 SF
Building Class
C
Year Built
1911
Price
£4,682,281
Price Per SF
£314
Net Initial Yield
4.99%
NOI
£233,876
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.56
Lot Size
0.22 AC
Zoning
CM2 - CM2
Frontage
95 ft on Hawthorne Blvd
AMENITIES
- Bus Route
- Signage
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (100)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R326486 | Improvements Assessment | £0 (2023) |
| Land Assessment | £0 (2023) | Total Assessment | £979,593 (2023) |
PROPERTY TAXES
Parcel Number
R326486
Land Assessment
£0 (2023)
Improvements Assessment
£0 (2023)
Total Assessment
£979,593 (2023)
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The Frances Building | 3632-3646 SE Hawthorne Blvd
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