6410 Halsey StPortland, OR 97213

For Sale
$20,760,000

178,596 SF Flex Space, 10-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
94
Exceptional investment opportunity: a 178,596 square foot flex space in Portland, Oregon, currently leased to Providence Health and Services – Oregon, an affiliate of Providence St. Joseph’s Health (Moody’s A2 Credit). This property boasts a long-term, 10-year remaining lease (through 12/31/2034) under a triple-net (NNN) lease structure, commencing on 12/31/2019. The asking price is $20,760,000, translating to $327.95 per square foot. Built in 1969 and extensively renovated in 2008, the property features 6 dock-high doors, a 19-foot ceiling height, and ample parking for 206 vehicles. Situated on a 4.1-acre lot in the EG2 Employment & Industrial Zone, this mission-critical location is less than one mile from Providence Portland Medical Center, a major regional hospital. The property's strategic location provides easy access to I-84, I-5, downtown Portland, Portland International Airport, and the Port of Portland. The tenant utilizes approximately 25% of the building for warehousing medical supplies and 75% for pharmaceutical R&D, office, and patient services. A $10,900,000 assumable loan with 3.908% interest-only payments is available until January 1, 2030. The net rentable area is 63,303 square feet. This property represents a stable, high-value investment with a strong tenant and prime location.

Highlights

  • $10,900,000 assumable loan at 3.908% interest-only, maturing January 1, 2030.
  • 10+ year remaining lease with Providence Health & Services – Oregon (Moody's A2 credit), under a triple-net (NNN) lease structure.
  • Mission-critical location less than one mile from Providence Portland Medical Center, serving as a distribution, R&D, and patient services hub.
  • Prime location with convenient access to I-84, I-5, downtown Portland, Portland International Airport, and the Port of Portland.

Property Details for 6410 Halsey St

Property type
Other industrial properties, Flex space
Square Feet
178,596 SF
Year Built/Renovated
1969/2008
Lot Size (sq. ft)
178,596 SF

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5326987
Longitude
-122.5971878
6410 Halsey St, Portland, Oregon

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6410 Halsey St
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