$13,215,000
7.3% cap · 44,380 sq ft RBA · Class B
6811 NW 23rd Ave
Portland, OR 97202
Listed 3 months ago$298/sq ft
01 / 09
NewComing SoonOffice
$10,910,000
2953 NE Alberta St
St. Johns · Portland, OR 97209
$228/sq ft3 days on market1.0K views35 saves
Key facts
- Interior
- 47,930 sq ft
- Lot
- 1.42 acres
- Year built
- 1946
- Property type
- Office
- Price / sq ft
- $228/sq ft
- Annual taxes
- $114,560
- Days on market
- 3
Getting around
Walk Score60
Somewhat Walkable
Transit Score53
Good Transit
Bike Score77
Very Bikeable
About this property
The 1946 office building at 2953 NE Alberta St has been repositioned and is now performing at 90% leased. 7 tenants spread the credit risk, and the Full Service structure limits landlord exposure. Full offering memorandum and T-12 available under NDA.
Investment summary
Investment summary
Cap rate
7.90%
Net operating income ÷ price
Net operating income
$861,890
Annual, after operating expenses
Cash-on-cash
+7.0%
$228,711 annual cash flow on $3,273,000 equity
Occupancy90%
43,137 sq ft leased of 47,930 sq ft
- Tenants
- 7
- Rentable area
- 47,930 sq ft
- Price / sq ft
- $228/sq ft
- WALE
- 5.5 yrs
- Lease type
- Full Service
- Building class
- Class B
- Zoning
- CS-1
- Parking
- 194 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $633,179 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Interior
- Bike Room & Showers
Parking & Access
- Freight Elevator
- Structured Parking
Highlights
- Conference Center
- Below-Market Rents
Price history
Every listing event recorded for this property.
- Listed
- Sold
| Date | Event | Price |
|---|---|---|
| 2022-06-11 | Sold | $9,085,000 |
| 2026-07-22 | Listed | $10,910,000 |
Location
St. Johns, Portland — Multnomah County
Loading map
Approximate location · St. Johns
Open full mapEstimate your monthly payment
Payment calculator
Estimated monthly
$67,323/mo
- Principal & interest81%$54,594
- Property tax14%$9,547
- Home insurance5%$3,182
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
$
$
%
%
Term
$
$
$
Loan amount $8,728,000 · 30 yr · 6.40%
