2892 Upshur StPortland, OR 97210

Property Details for 2892 Upshur St

Year built

1925

Lot size

0.06 AC

Property size (Sq ft)

2,904 SF

Zone code

R1

Property type

Office properties

Property subtype

Other office properties

APN

1N1E29DC 03800

APU

1N1E29DC03800

Description

This exceptional 2,904 square foot office space in Multnomah County offers a blend of traditional and creative office design, perfect for a single tenant. The layout features four private offices, two bathrooms, a welcoming lobby, and ample storage. Abundant natural light creates a bright and inviting atmosphere. Enjoy access to a shared courtyard with the neighboring property at 1826 NW 29th St, Unit B. This property presents a unique opportunity for expansion; the adjacent unit (1848 sq ft) is available for lease and conveniently located across from the shared courtyard, allowing for seamless growth. The lease is a Triple Net (NNN) agreement with a minimum 12-month term. Tenants are responsible for all utilities (water, electricity, gas, sewer, garbage, internet), interior and exterior maintenance and repairs, property taxes, and insurance. Proof of liability insurance is required. Occupancy begins October 1, 2024; showings are scheduled after this date. This property is classified as Office, Special Purpose, and further categorized as Traditional Office, Creative Office, and Executive Office.

• CAP approach

  CAP return

  Valuation

  6%

  $797,613

  6.5%

  $736,258

  7%

  $683,668

• Comparable approach

  Method

  Valuation

  Relative Method

  $559,252

  Geo Method

  $559,252

• Alternative Use

  Use

  Valuation

  Residential

  $912,960

  Hospitality

  $836,266

  Educational

  $695,764

  Medical

  $719,692

  Retail

  $1,082,299

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5358

Longitude

-122.711

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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