10209 Division StPortland, OR 97226

Property Details for 10209 Division St

Year built

1960

Lot size

1.37 AC

Property size (Sq ft)

11,245 SF

Zone code

CN2

Property type

Retail space

APN

1S2E04DD 01800

APU

1S2E04DD01800

Description

This exceptional investment opportunity presents a fully leased, three-building office complex located at 10209 SE Division St, Portland, Oregon, 97226. The property boasts a total of 15,340 square feet across three single-story buildings situated on a 1.62-acre lot. Currently operating at 100% occupancy, the complex features three tenants: Volunteers of America (7,340 sq ft, since 2011), NW Instituto Latino (3,700 sq ft), and Sober Living Oregon Treatment (4,300 sq ft). The property offers convenient access with two points of ingress and egress, and ample parking with 52 off-street stalls. The asking price is $3,186,184, representing a price per square foot of $207.70 and a 6.49% cap rate. The property's Net Operating Income (NOI) is $206,854. The lease type is modified, with rent bumps included. This stabilized investment offers a strong cash flow and significant potential for future growth. The property is classified as Class C and benefits from prominent signage on SE Division Street. This is a rare opportunity to acquire a well-maintained, multi-tenant office complex in a desirable Portland location.

• CAP approach

  CAP return

  Valuation

  6%

  $4,540,171

  6.5%

  $4,190,927

  7%

  $3,891,575

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,457,216

  Geo Method

  $5,457,216

• Alternative Use

  Use

  Valuation

  Residential

  $3,535,204

  Hospitality

  $3,238,228

  Educational

  $2,694,168

  Medical

  $2,786,824

  Retail

  $4,190,927

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5047

Longitude

-122.558

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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