7131 Prescott StPortland, OR 97218

For Sale
$725,000

Roseway Flex Space: Office & Retail

Overview

Added:
Dec 11, 2024
Days on market:
94
This 3,150 square foot free-standing building in Portland's vibrant Roseway neighborhood is for sale at $725,000. The property, built in 1950 and situated on a 0.15-acre lot, features a mix of office and retail space currently 100% occupied under a gross lease expiring May 31, 2025. The building boasts newer systems and four off-street parking spaces, a significant advantage in this location. Zoned CM1, it offers excellent visibility on a high-traffic street and is conveniently located on a bus line. The current lease has a remaining term of 0.5 years, with a lease commencement date of August 31, 2023. The property presents a compelling investment opportunity with a 6.40% cap rate and a price per square foot of $230.16. Ideal for owner-users or investors seeking strong rental potential in a dynamic market, this property is well-suited for a variety of uses, including retail shops, professional offices, or a combination thereof. The single-story building consists of two units. This is a rare opportunity to acquire a well-located, income-producing property in a thriving Portland neighborhood. The property's prime location and flexible layout make it an attractive option for a wide range of tenants and business owners.

Highlights

  • $725,000 asking price for a 3,150 sq ft mixed-use building (office/retail) in Portland, OR.
  • Gross lease in place with 0.5 years remaining; lease expires 05/31/2025.
  • 100% occupancy with 4 parking spaces.
  • Located in the Roseway neighborhood on a high-visibility street with excellent bus access.
  • Features newer systems and offers strong investment potential with a 6.40% cap rate.

Property Details for 7131 Prescott St

Property type
Other retail properties, Other office properties
Square Feet
3,150 SF
Year Built
1950
Buildings
1
Stories
1
Lot Size (sq. ft)
6,534 SF
Units
2

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.555432409303
Longitude
-122.58969041306
7131 Prescott St, Portland, Oregon

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7131 Prescott St
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