FOR SALE INVESTMENT OPPORTUNI TY 10320 & 10322 NE Halsey Street Portland, OR 97220 Heather Miller KW Commercial - Portland Central Oregon Licensed Broker (503) 310-1935 [email protected]
FOR SALE
INVESTMENT OPPORTUNITY
10320 & 10322 NE Halsey Street
Portland, OR 97220
Heather Miller
KW Commercial - Portland Central
Oregon Licensed Broker
(503) 310-1935
10320 & 10322 NE Halsey Street Portland, OR 97220
EXECUTIVE SUMMARY
FEATURES Proforma
Purchase Price: $975,000
Down Payment: $292,500
Principal Amount: $682,500
Interest Rate: 5.000%
Terms: 300
Bldg SF 5,305
Cost Per SF $183.79
Tenant - NNN Leases Size/SF Yearly Income
Gateway Liquor 3,780 $46,248
Dorothy's Deli/Tobacco 4 Less 1,525 $25,680
Subtotal $71,928
Gross Income $71,928
Less Vacancy (5%) $3,596
Total Effective Rental Income $68,332
Less Expenses $13,453
Tenant Reimbursements $10,253
Net Operating Income $65,132
Debt Service $34,125
Net Cash Flow after Debt Service $31,007
Principal Reduction $14,041
Total Return $45,048
Capitalization Rate 6.68%
Cash on Cash Return 10.60%
Total Return 15.40%
• 5,305 SF Building
• Year built - 1955
• 5 year leases in place for both
tenants - 5 years left with one option
• Great Investment
Opportunity
• Close proximity to I-205 and I-84
• Zoned CX
• 16,937 cars per day
• Close to shopping, parks and
restaurants
• DO NOT DISTURB TENANTS
SALE PRICE
$975,000
10320 & 10322 NE Halsey Street Portland, OR 97220
LOCATION
By 2020, only one part of the Portland metropolitan region
will stand out for unequalled convenience: the I-205 corridor,
anchored by the Gateway Regional Center (GRC). This is
because Gateway sits at the nexus of two major freeways
I-205 and I-84, light rail connections to points east, west and
(shortly) north, and four primary east-west arterial collectors.
It is the transit hub for the east side, and enjoys the luxury of
two light rail stations, one of which is a Transit Center.
Walk score
77 - very walkable
Bike score
81 - Very bikeable
Transit Score
67 - Good transit
Gateway Business District
Once considered the 'Gateway to the Columbia Gorge', the Gateway Business District stretches from 102nd to 162nd Avenues and covers nearly
25% of East Portland. Designated an Eco District in 2009, Gateway has committed to be one of the most sustainable business districts in the city,
planting more than 2,500 trees in the district (2014) and helping customers recycle with unique garbage cans in the public right of way (2015).
10320 & 10322 NE Halsey Street Portland, OR 97220
NEARBY RETAILERS
10320 & 10322 NE Halsey Street Portland, OR 97220
2018 TRAFFIC COUNTS
102ND & HALSEY - 15,568
103RD & HALSEY - 15,820
106TH & HALSEY– 14,857
LOCATION
KW COMMERCIAL - PORTLAND CENTRAL
919 NE 19TH AVE, SUITE 100, PORTLAND, OR 97232 Each Office is independently owned and operated
10320 & 10322 NE Halsey Street
Portland, OR 97220
Heather Miller
KW Commercial - Portland Central
Oregon Licensed Broker
(503) 444-5819
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or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or
suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
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Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through
appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents
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All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market
rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable
contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be
discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the
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