727 Grand AvePortland, OR 97214

For Sale
$2,100,000

Prime SE Portland Bar, 6,000 SF, 7.3% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple ownership of a thriving, single-tenant bar and restaurant located at 727 SE Grand Ave, Portland, Oregon, 97214. The property boasts 6,000 square feet across two stories, encompassing two distinct bar/event spaces and desirable outdoor seating. Situated in a prime Southeast Portland location, it benefits from high visibility at the entrance to the Hawthorne Bridge and Interstate 5 on-ramp, ensuring excellent accessibility and exposure. The property's strategic placement is further enhanced by its proximity to numerous large apartment buildings and the Goat Blocks developments, guaranteeing a robust customer base. This established business enjoys a remarkable history of continuous operation for over 50 years, demonstrating its enduring appeal and market resilience. The current tenant operates successfully in multiple locations, including Las Vegas and Austin. The Net Lease (NNN) structure, coupled with a strong cap rate of 7.30% and 100% occupancy, provides a passive income stream with minimal landlord responsibilities. The property's zoning is EX, and it includes a valuable billboard generating additional passive income. This offering presents a rare chance to acquire a well-established, high-performing asset in a rapidly developing area of Portland, promising significant long-term value and return on investment. The building is a two-story structure on a fee-simple lot with no ground lease.

Highlights

  • Fee-simple ownership of a thriving bar and restaurant with over 50 years of continuous operation.
  • Prime Southeast Portland location at SE Grand Ave., near the Hawthorne Bridge and I-5 on-ramp, with high visibility.
  • Surrounded by new multifamily and mixed-use developments, ensuring a strong customer base.
  • Experienced operator with multiple locations in Las Vegas and Austin.
  • Strong passive income with a 7.30% cap rate, 100% occupancy, NNN lease, and additional income from a billboard.

Property Details for 727 Grand Ave

Property type
Other retail properties, Restaurants
Square Feet
6,000 SF
Buildings
1
Stories
2
Units
1

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5174948
Longitude
-122.6609934
727 Grand Ave, Portland, Oregon

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727 Grand Ave
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