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$563,000 Price Reduction. Fsbo With $75,000 Courtesy To Brokers.

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Posted By:
LisaJansen
Posting ID:
3799t2814
Location:
Portland, Or
Telephone:
Tags:
 commercial   investment 
Price:$158,700
Listing Type:Commercial For Sale
Address:
122nd And Stephens
Portland, OR 97233

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For images see our vflyer: 2854519

For sale by owner with multiple Lease Back options or will vacate premises. Price reduced from Macadam and Forbes listing of $2,150,000 one year ago and has been reduced to $1,587,000 as of 5/15/2010. Equity cash out required for personal reasons.

$75,000 Courtesy to Brokers or additional price reduction to non-represented buyers

Multiple Sale/Lease Options Are Available:
Option 1: Owner occupied, tenant will vacate.

Option 2: Full lease. 2 year lease commencing upon purchase with an option to pick-up an additional 5 years. 8 to 12% cap rate. Prefer single tenant occupancy.

Option 3: Take over the lower level of 4,000 sqft. with a partial lease commencing with an option to pick-up an additional 5 years. 7.5 to 9% cap rate. Prefer single tenant occupancy.

Tenant Information Founded in 1997, VIP750 provides premier security and life protection services in: Oregon, Washington, and Idaho. VIP750's Portland-based employees enjoy the amenities of a meticulously renovated 10,000 square foot office complex. The organization owns this building, and performed extensive build outs and updates after purchase. VIP750's Portland team takes full advantage of this facility's creature comforts from a light-filled atrium to an Asian-inspired garden with waterfalls and a pond; and from blazing-fast T1 Internet connectivity, dual conference rooms with the latest Video Conferencing capabilities, to a call center unrivaled in the industry.

Property Possibilities This property would be great as a medical facility, as private practice or anyone in need of a high-end office space. Although a single tenant currently occupies the building, the property is capable of supporting the needs of three tenants with room for an additional 8,000 sqft building expansion - increasing the potential income opportunity.

Area Information Portland, nicknamed The City of Roses, lies at the northern end of Oregon's most populated region, the Willamette Valley. The Willamette River runs north through the city center, separating the southwest and southeast quadrants of the city, before veering slightly northwest to join with the Columbia River. The visually stunning Mount Hood, to the east of Portland, is easily visible from much of the city. Among other household names, Nike, Columbia Sportswear, and Hollywood Entertainment call the Portland area home.

Demographic Information With a population of 562,690, and with approximately two million people living in the surrounding metropolitan area, Portland is Oregon's most populous city, and the third most populous city in the Pacific Northwest. The median income for a household in the city is $40,146, and the median income for a family is $50,271. Over the last decade, Portland has received numerous national awards regarding the environment and urban growth planning.

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