Beaumont Village Lofts
Property Details
Price
$1,935,000
Building Size
4,374 SF
Property Details
Street Retail
Total Lot Size
0.47 Acres
Description

Investment Retail Condominium on NE Fremont.
5% Cap Rate; 5.3% Proforma Cap Rate.

Highlights
Median income of neighborhood is 62% above the City of Portland average
6.5% projected population growth over next 5 years
Newer (2008) construction
Maintenance managed by HOA
Property management handles all other responsibilities
Balanced Rent Roll with staggered lease expirations minimizes vacancy risk
Potential upside in lease renewal for Yo Choice, which is approximately 30% below market
All expenses, including property management, are pass-through
Stability: all tenants have been at this location for nine to eleven years
Coffee People plan to spend approximately $50,000 on improvements to their space, and have just renewed their lease for six years, demonstrating ongoing confidence in this location.
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