1

2

5

720

20

Assumed Closing Date of January 1, 2020

Suite GLA Bldg Lease DatesAnnual

Rent Per Lease

Current

Total Rent

Current

Total Rent

Proforma

Rent Per

Proforma

Total Rent

Proforma

Total Rent

Renewal Options

and Option Year

Tenant Name Number (SF) Share Comm. Exp.Sq. Ft.

Type Per Month Per Year Sq. Ft.Per Month Per Year

Rental Information

St./U/dio PDX A 1,025 23.0% 12/1/17 7/31/22 $28.69 MG $2,420 $29,405 $29.55 MG $2,524 $30,291 (2) 1-Year Options

4 Bedroom / 1 Bath B 2,778 62.4% 7/1/19 6/30/20 $16.20 MG $3,750 $45,000 $16.41 MG $3,800 $45,600 None

Garage Workspace C 650 14.6% Vac Vac $7.38 MG $400 $4,800 $7.38 MG $400 $4,800 N/A

Total: - 4,453 100% - - $17.79 MG $6,570 $79,205 $18.12 MG $6,724 $80,691 -

820

20

Income Current Per SF Pro-Forma Per SF

Scheduled Base Rental Income 79,205 17.79 80,691 18.12

Expense Reimbursement Income

Total Reimbursement Income $1,016 11.0% $0.23 $1,016 9.9% $0.23

Potential Gross Revenue 80,221 18.02 81,707 18.35

General Vacancy (4,800) 6.1% (1.08) (4,085) 5.0% (0.92)

Effective Gross Revenue $75,421 $15.95 $194,089 $18.89

Operating Expenses Current Per SF Pro-Forma Per SF

Common Area Maintenance (CAM)

Garbage ($660) ($0.15) ($660) ($0.15)

Landscaping ($300) ($0.07) ($300) ($0.07)

Repairs & Maintenance ($1,000) ($0.22) ($1,000) ($0.02)

Insurance ($1,390) ($0.31) ($1,390) ($0.31)

Real Estate Taxes ($2,112) ($0.47) ($2,112) ($0.47)

Management Fee ($3,771) 5.0% ($0.85) ($3,881) 5.0% ($0.87)

Reserves - Non Reimbursable ($891) ($0.20) ($891) ($0.20)

Total Expenses ($9,233) ($2.07) ($10,234) ($2.30)

Net Operating Income $66,188 $14.86 $67,388 $15.13

920

20

Summary

Purchase Price $1,100,000

Down Payment $385,000 35%

Number of Suites 3

Price Per Sq Ft $247

Gross Leasable Area (GLA) 4,453 SF

Lot Size 0.11 Acres

Year Built 1905

Occupancy 85.40%

Returns Current Pro-Forma

CAP Rate 6.02% 6.13%

Cash-on-Cash 4.80% 5.12%

Debt Coverage Ratio 1.39 1.41

Financing 1st Loan

Loan Amount $715,000

Loan Type New

Interest Rate 4.50%

Amortization 25 Years

Year Due 2026

Loan information is subject to change. Contact your Marcus & Millichap Capital Corporation representative.

Operating Data

Income Current Pro-Forma

Scheduled Base Rental Income $79,205 $80,691

Total Reimbursement Income $1,016 $1,016

Potential Gross Revenue $80,221 $81,707

General Vacancy ($4,800) ($4,085)

Effective Gross Revenue $75,421 $77,622

Less: Operating Expenses ($9,233) ($10,234)

Net Operating Income $66,188 $67,388

Debt Service ($47,690) ($47,690)

Net Cash Flow After Debt 4.80% $18,498 5.12% $19,698

Principal Reduction 15,839 $16,567

Total Return 8.92% $34,337 9.42% $36,265

Operating Expenses Current Pro-Forma

CAM $2,960 $2,960

Insurance $1,390 $1,390

Real Estate Taxes $2,112 $2,112

Management Fee $3,771 $3,881

Reserves – Non-Reimbursable $891 $891

Total Expenses $9,233 $10,234

Expenses/SF $2.07 $2.30

11

2937 E BURNSIDE ST , PORTLAND, OR, 97214

Marcus & Millichap has been selected to exclusively market for sale the mixed-use property located at 2937

East Burnside Street in Southeast Portland, Oregon. This retail / residential property consists of

approximately 4,453 square feet of gross leasable area situated on a 5,000 square foot parcel of land zoned

CM2 – Commercial Mixed-Use 2. There is off-street parking.

The retail structure with frontage on Burnside is approximately 1,025 square feet. The space is currently

leased to St./U/dio PDX, which is a yoga studio. They began leasing the property in 2017, and their lease

expires at the end of July 2022. They have two 1-year options to renew with 3% annual escalations.

The house behind the retail suite is approximately 2,778 square feet, which consists of four bedrooms, 1

bathroom, and a full basement with separate entry. The house is currently leased until the end of June 2020.

The garage to the Northeast of the house consists of approximately 650 square feet of gross leasable area.

The garage is currently vacant, but was previously occupied by a photographer on a gross lease at a rate of

$400 per month.

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•

•

•

•

•

•

•

12

13

COALITION

Laurelhurst Neighborhood

Subject Property

2937 E Burnside

14

15

16ST. /U/DIO PDX

17

18

19

20

Burnside Mixed-Use

Old Sellwood Bank Building

Lombard Mixed-Use

Westover Mixed-Use

72nd & Glisan Mixed-Use

Hungry Tiger Complex

Basement Pub Mixed-Use

1

2

3

4

5

6

21

Avg. 5.44%

0.0

0.7

1.4

2.1

2.8

3.5

4.2

4.9

5.6

6.3

7.0

2937 E

Burnside St

Old

Sellwood

Bank

Building

Lombard

Mixed-Use

Westover

Mixed-Use

72nd &

Glisan

Mixed Use

Hungry

Tiger

Complex

Basement

Pub

Average Cap Rate

22

2

Close Of Escrow: 1/2/2019

Sales Price: $1,050,000

Cap Rate: 5.15%

Price/SF: $181

LOMBARD MIXED-USE4926 N Lombard St, Portland, OR, 97203

Close Of Escrow: 2/14/2019

Sales Price: $2,140,700

Cap Rate: 5.98%

Price/SF: $299

OLD SELLWOOD BANK BUILDING8301-8317 SE 13th Ave, Portland, OR, 97202

4

Close Of Escrow: 9/12/2018

Sales Price: $2,650,000

Cap Rate: 5.07%

Price/SF: $600

3

WESTOVER MIXED-USE2332 NW Westover Rd, Portland, OR, 97210

1

5

Close Of Escrow: 7/7/2017

Sales Price: $2,150,000

Cap Rate: 5.60%

Price/SF: $204

HUNGRY TIGER COMPLEX201-213 SE 12th Ave, Portland, OR, 97214

Close Of Escrow: 8/16/2018

Sales Price: $1,100,000

Cap Rate: 5.70%

Price/SF: $170

72ND & GLISAN MIXED-USE7202-7204 NE Glisan St, Portland, OR, 97213

4

Close Of Escrow: 6/1/2017

Sales Price: $1,050,000

Cap Rate: 5.13%

Price/SF: $376

6

BASEMENT PUB MIXED-USE1024-2018 SE 12th Ave, Portland, OR, 97214

4

23

24

25

26