I-205 Business Complex FOR SALE


Portland, OR - Gateway
$7,950,000 USD
503-724-3540
, Portland, OR for Sale
$7,950,000 USD
FOR SALE
1/15
null | 7.52% Cap Rate

I-205 Business Complex
Portland, OR
Gateway


HIGHLIGHTS

  • Central regional location within 2 blocks of Interstate 205 access
  • Located within City of Portland designated Gateway Regional Center
  • 96% leased to multiple tenants and uses creating a favorable diverse income stream
  • 95% of the tenancy has occupied the property for at least 25 years
  • Existing contract rent averages approximately 18% below market with the largest tenant near 25% below market
  • Opportunity for initial steady income stream with mid-to-long term income/value upside

OVERVIEW

The I-205 Business Complex is a multi-building, multi-tenant property with a mix of industrial, flex, office/service, and retail tenants. Its east Portland location is very central and accessible for the Portland/ Vancouver metro region, within two blocks of a major Interstate 205 interchange. This location is also within the Gateway Regional Center, the City of Portland’s only designated regional center and is targeted to receive a significant share of the city’s growth. The property is anchored by two larger, long-term tenants, Automotive Industrial Marketing Corporation (AIMCO) and Mor Furniture for Less (Mor Furniture). These companies (or related entity) have occupied 95% of the project for more than 25 years, with leases for most of this space extending into 2028 and beyond. One smaller office/service tenants occupies one space and there is one small vacant space located within a multi-tenant office/service pad building fronting SE Start Street. The I-205 Business Complex has a long history of effectively full occupancy providing a strong, diverse, and reliable income stream. Existing contract rents are well below current market rents, providing the potential for dramatic income and value upside over time. In-Place NOI of $597,567 (7.5% cap rate); Proforma 2026 NOI $668,594 (8.4% cap rate).

ASK ABOUT THIS PROPERTY

David HillKidder MathewsMore Info
503-724-3540

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David HillKidder MathewsMore Info
503-724-3540

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