1804 BroadwayPortland, OR 97232

For Sale
$1,650,000

High-return auto shop investment. Excellent tenant.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 5,000 square foot, Class A, single-tenant industrial property located at 1804 NE Broadway, Portland, Oregon 97232. The property, built in 1971 and extensively renovated in 2022, boasts a 15-foot ceiling height and ample parking (8 spaces) on a 0.21-acre lot. Currently occupied by Speedy Novus Glass, a credit-rated tenant with a long history (since 1994) at this location, the property is under a Net Lease (NNN) agreement with a remaining term of approximately 3.1 years (commencing January 1, 2023, and expiring December 31, 2027). The lease includes two five-year renewal options. The property generates a strong Net Operating Income (NOI) of $81,991, resulting in an attractive 4.97% capitalization rate. Recent improvements include a new warehouse heating system, electrical panel, elastomeric roof covering, roof drains and downspouts, overhead door, and exterior paint. The parking lot was also recently resealed and restriped. The property is zoned CS Storefront Commercial, offering potential for future development. This is a direct sale by owner, offering a rare chance to acquire a stable, high-performing asset in a desirable Portland location. The property is easily accessible and situated in a walkable neighborhood with high foot traffic and convenient public transportation. Please contact the owner directly to schedule a showing

Highlights

  • Owner-direct sale of a commercial property currently leased to a AAA-rated automotive glass repair tenant.
  • Five-year lease renewal commenced January 1, 2023, with two additional five-year options.
  • Long-term, established tenant (20+ years) with strong brand recognition.
  • Favorable Triple Net (NNN) lease terms for the landlord.
  • Property possesses significant long-term development potential.

Property Details for 1804 Broadway

Property type
Other warehouses, Other specialty properties
Square Feet
5,000 SF
Class
A
Year Built/Renovated
1971/2022
Buildings
1
Stories
1
Lot Size (sq. ft)
9,148 SF
Units
1

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5347406
Longitude
-122.6473622
1804 Broadway, Portland, Oregon

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1804 Broadway
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