330-338 SE Martin Luther King Jr Blvd - Loft/Creative Space FOR SALE


Portland, OR 97214
$2,390,000 USD
503-210-4068
330-338 SE Martin Luther King Jr Blvd, Portland, OR for Sale
$2,390,000 USD
Loft/Creative Space - FOR SALE
1/24
null | Request Cap Rate

330-338 SE Martin Luther King Jr Blvd
Portland, OR 97214


HIGHLIGHTS

  • Owner-user/value-add opportunity with signi?cant upside upon lease-up of available spaces.
  • Outstanding amenities including off-street parking, a high ceiling/creative of?ce buildout, and an onsite shower.
  • Situated in Portland’s central eastside neighborhood with access to I-5 and I-84 within a quarter mile.
  • Accessible from West Portland via the Burnside Bridge which will be replaced in the coming years with construction expected to start in 2025.
  • Located blocks from the historic and recently renovated bespoke Hotel Grand Stark.
  • Rents below market for similar spaces in the immediate trade area.

OVERVIEW

The Offering provides the opportunity to acquire The Cully Building, a historic 13,349 SF building in Portland’s Central Eastside. Located on SE MLK Blvd, the Property is heavily traf?cked, seeing 26,800 VPD with ample access to public transportation, including bus, MAX light rail, and bike lanes. The Property is 25% occupied by two near-term tenants with leases expiring in 2025, providing an ideal opportunity for an owner-user or value-add investor. The Property was initially developed in 1884 and has had a partial seismic retro?t after the most recent purchase in 2002. Additional renovations have been completed since that time. Situated in an ideal close-in Portland location, The Cully Building has a plethora of surrounding amenities, including hotels, restaurants, breweries, access to the Willamette waterfront, and is situated less than half a mile from the Oregon Convention Center.

FOR SALE DETAILS

PRICE

$2,390,000 USD

PRICE/SF

$179 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

The Cully Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1884

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

EX

APN/PARCEL ID

R150115,R150116

ASK ABOUT THIS PROPERTY

Michael KapnickNorthmarqMore Info
503-210-4068

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Michael KapnickNorthmarqMore Info
503-210-4068

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.