sw barbur retail strip center sale package...sw barbur retail strip center 8200-8224 sw barbur...

FOR SALE

INVESTMENT REAL ESTATE SERVICES

SW BARBUR RETAIL STRIP CENTER8200 -8224 SW Barbur Boulevard | Portland OR 97219

900 SW 5th Avenue • 17th Floor • Portland, OR 97204

503.223.3171 • norris-stevens.com

$2,200,000

LUIS MARTIN DEL CAMPO503.416.8422

[email protected]

BRAD MACOMBER503.225.8481

[email protected]





Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.

INVESTMENT

The Offering

INVESTMENT HIGHLIGHTSPrice: $2,200,000

Cap: 6.58% (Actual)

Land Area: 20,000 SF

Year Built: 1951

Occupancy: 92%

Leasable SF: 7,657

Price Per SF: $287.32

Lease Type: NNN

Current Rents PSF: $12 - $23

Parking: 4.89/1,000 (36 Spaces)

Zoning: General Commercial

NORRIS & STEVENS, INC. IS PLEASED TO PRESENT THE FOLLOWING EXCLUSIVE LISTING:

8200 -8224 SW Barbur is a multi-tenant retail strip center located on the corner of the signalized intersection of SW Barbur Boulevard and SW 19th Avenue. The offering provides an opportunity to acquire a two-building ±7,700 SF retail strip center at 92% occupancy.

• Shadow Anchored - Intersection shared with newly remodeled Safeway, as well as the proposed 162-unit multi-family mixed use development anchored by Natural Grocers, construction to begin 7/2017

• Long Term Tenants – Three of the four tenants have been at the center for more than 10 years• Transit friendly - with TriMet bus stops at 2 points along property line• High Traffic Counts – this dense retail location attracts 20,000 vehicles per day• Solid Consumer Base – there are 104,039 residents earning an average household income in excess of

$105,017 within a 3 mile radius

SW BARBUR RETAIL STRIP CENTER8200 -8224 SW Barbur Boulevard | Portland OR 97219 FOR SALE





Site Plan






Site Aerial

SITESW BA

RBUR B

LVD

SW 1

9TH

AVE

NU

E

SW MULTNOMAH BLVD

SW CAPITOL HILL ROAD

PROPOSED






Financial Analysis

OFFERING SUMMARY

Sale Price $2,200,000

Down Payment (30%) $660,000

Loan Amount $1,540,000

Loan Type New

Interest Rate/Amortization 4.75% / 25 Yrs

Gross Leaseable Area (SF) 7,657

Price Per Square Foot $287.32

Year Built 1951

Lot Size (SF) 20,000

Actual Cap Rate 6.58%

INCOME

Base Rent

Occupied Space $146,866

Vacant Space at Market $10,800

Gross Potential Rent $157,666

Expense Reimbursement $18,275

Gross Potential Income $175,941

Vacancy/Collection Allowance $12,222

Effective Gross Income $163,719

Total Expenses $19,045

Net Operating Income $144,674

Debt Service $96,396

Debt Coverage Ratio 1.50

Net Cash Flow After Debt Service $48,278

Cash on Cash Return 7.31%

Principal Reduction $24,000

Total Return $72,278

Total Yield 10.95%

EXPENSES (2014 ACTUALS)

Real Estate Taxes $12,182

Insurance $2,400

Reserves/Replacements ($.10 psf) $770

Utilities $3,693

Total Expenses $19,045

Expenses per SF $2.49






Rent Roll

Lease Summary Start Date End Date Price PSF SF Increases Current Year Rent Vacant at MarketTobacco Town 11.15.1995 12.31.2020 $23.53 3,685 3% $86,724.00Tobacco Town 10.20.2007 12.31.2020 $19.13 900 3% $17,220.00Humdinger mtm $21.37 872 3% $18,634.64EMS Management 04.01.2003 mtm $16.80 500 no $8,400.00Burger Stevens 05.17.2017 07.31.2018 $12.00 1,100 no $13,200.00Vacant $18.00 600 $10,800.00Clear Channel (billboard) 02.01.2010 01.31.2020 3% $2,687.00Total 7,657 $146,865.64 $10,800.00






On Market Comps

Property Address On Market Ask Price Cap Rate Year Built Land Area Building Size Price/SF Occupancy

201-213 SE 12th AvePortland OR 97214 64 Days $2,150,000 5.60% 1909 0.23 Ac 10,553 SF $203.73 100%

2500 SE 26th AvePortland OR 97202 62 Days $2,434,000 5.00% - 0.34 Ac 4,220 SF $576.78 100%

9455 SW Barbur BlvdPortland OR 97219 197 Days $2,000,000 5.30% 1987 0.58 Ac 1,850 SF $1,081.08 100%

6800 SW BH Hwy. (217)Portland OR 97225 65 Days $2,180,000 6.51% 1967 0.34 Ac 18,000 SF $121.11 100%






On Market Comps

Property Address On Market Ask Price Cap Rate Year Built Land Area Building Size Price/SF Occupancy

8225 SE Clatsop StPortland OR 117 Days $1,600,000 6.00% 1980 1.37 Ac 3,884 SF $411.95 100%

15930 SW Regatta Ln.Beaverton OR 97006 78 Days $1,750,000 4.90% - 0.7 Ac 5,587 SF $313.23 100%

12091-12111 SE Sunnyside RdHappy Valley, OR 97015 69 Days $4,350,000 5.50% 2016 1.02 Ac 4,410 SF $986.39 100%






SOLD

Sold Comps

Property Address Sale Date Sale Price Cap Rate Year Built Land Area Building Size Price/SF

480 5th StLake Oswego, OR 97034 03.02.2017 $1,313,000 4.50% 1947 - 4,750 SF $276.42

8708-8728 SE 17th AvePortland OR 97202 09.08.2016 $3,000,000 6.58% 2007 0.35 AC 7,502 SF $399.89

4817 SW 53rd AvePortland, OR 97221 11.22.2016 $1,175,000 6.86% 1968 0.65 AC 5,969 SF $196.85

10227-10240 NE Clackamas StPortland OR 97220 08.05.2016 $1,200,000 7.00% 1947 - 13,014 SF $92.21






SOLD

Sold Comps

Property Address Sale Date Sale Price Cap Rate Year Built Land Area Building Size Price/SF

2937 SE Burnside StPortland, OR 97214 04.14.2017 $1,025,000 7.32% 1905 0.12 Ac 3,598 SF $284.88

4727 NE Fremont StPortland OR 97213 03.02.2017 $1,675,000 4.50% 1927 0.23 Ac 5,822 SF $287.70

2606-2612 SE Gladstone StPortland, OR 97202 11.03.2016 $1,220,000 7.00% 1981 0.23 AC 5,952 SF $204.97

12091-12111 SE Sunnyside RdHappy Valley, OR 97015 07.27.2016 $2,763,000 5.74% 2016 1.02 AC 4,410 SF $626.53

sw barbur retail strip center sale package...sw barbur retail strip center 8200-8224 sw barbur...

Documents