Corbett Building | 4245-4247 SW Corbett Ave
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Corbett Building 4245-4247 SW Corbett Ave
5,404 SF Office Building Portland, OR 97239 £881,650 (£163/SF)
Investment Highlights
- Ideal Owner-User office Property with 3,779 SF of private offices and open creative space available to occupy
- Opportunity for an Owner-User to offset operating costs with rental income from other tenants
- Located in a walkable neighborhood with a walk and bike score of 73
- High income neighborhood with an average household income of $147,689 within a one mile radius
- Well-located near amenities including Tesla, Fred Meyer, Original Hotcakes House, Wells Fargo, hotels, parks and more
- Ease of access along SW Barbur Blvd with 32,432 + VPD
Executive Summary
The Offering provides the opportunity to acquire a 5,404 SF office building with off-street parking located near Oregon Health & Science University, with an average HH income of $147,689 within 1 mile. Constructed in 1982 and renovated in 2013, the building is situated on 4,345 SF of office commercial zoned land. The Property will be 30% occupied to two tenants, leaving 70% of the rentable space available to an Owner-User or investor to re-tenant and generate cash ?ow. The existing ground floor tenants are paying below market rents so there is an opportunity to reduce one’s occupancy cost by raising rents to market for the existing tenants. In addition, the main office is available to an Owner-User, which can benefit from a creative aesthetic that will have broad appeal to a range of uses. The Property is well-located alongside SW Barbur Blvd, directly adjacent from Corbanc Condominiums with direct access to nearby amenities like Fred Meyer, Wells Fargo, hotels, parks and more.
Taxes & Operating Expenses (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
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-
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| Operating Expenses |
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| Total Expenses |
$99,999
|
$9.99
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Taxes & Operating Expenses (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Owner User
Sale Condition
High Vacancy Property
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
5,404 SF
Building Class
B
Year Built/Renovated
1982/2013
Price
£881,650
Price Per SF
£163
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
1,801 SF
Slab to Slab
9 ft
Building FAR
1.24
Lot Size
0.10 AC
Zoning
R2
Parking
4 Spaces (0.74 Spaces per 1,000 SF Leased)
Amenities
- Bus Route
- Signage
1 of 1
Walk Score ®
Very Walkable (74)
Transit Score ®
Excellent Transit (71)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | R247621 | Improvements Assessment | £0 (2023) |
| Land Assessment | £0 (2023) | Total Assessment | £401,183 (2023) |
PROPERTY TAXES
Parcel Number
R247621
Land Assessment
£0 (2023)
Improvements Assessment
£0 (2023)
Total Assessment
£401,183 (2023)
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Corbett Building | 4245-4247 SW Corbett Ave
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