2705 Burnside StPortland, OR 97214

Property Details for 2705 Burnside St

Year built

1911

Lot size

0.49 AC

Property size (Sq ft)

18,815 SF

Zone code

CS

Property type

Office properties

APN

1N1E36CB 04800

APU

1N1E36CB04800

Description

This exceptional investment opportunity presents a stabilized Class B office building located at 2705 E Burnside St, Portland, Oregon 97214. The Burnside Trolley Building offers 16,597 square feet of leasable space, spread across two stories and served by an elevator. The building boasts a classic brick exterior and features on-site parking, a significant advantage in this desirable location. Currently generating a strong pro-forma NOI of $270,650, resulting in a 6.29% pro-forma cap rate, this property offers a compelling return on investment. The asking price is $4,300,000, translating to $259.08 per square foot. The building's tenant base demonstrates remarkable stability, with over half having occupied the space for more than a decade, indicating strong lease longevity and predictable income streams. Situated in close-in Portland, the property benefits from its proximity to numerous amenities, making it an attractive location for businesses and employees alike. This is a rare opportunity to acquire a well-maintained, income-producing asset in a thriving Portland neighborhood. The building's solid performance history and strong tenant relationships make it an ideal addition to any commercial real estate portfolio. This two-story building offers a blend of classic charm and modern functionality, making it a highly sought-after property in the competitive Portland market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,167,728

  6.5%

  $4,770,210

  7%

  $4,429,481

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,623,393

  Geo Method

  $3,623,393

• Alternative Use

  Use

  Valuation

  Residential

  $5,915,061

  Hospitality

  $5,418,164

  Educational

  $4,507,849

  Medical

  $4,662,880

  Retail

  $7,012,209

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5232

Longitude

-122.638

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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