leased investment portfolio - loopnet · 2020-01-14 · leased investment portfolio 7103 se 60th...
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James Gillespie
Oregon Principal Broker
(503) 890-5775
Heather Miller
Licensed Oregon Broker
(503) 444-5819
Leased Investment Portfolio 7103 SE 60th Avenue & 334 SE 146th Avenue
Portland, Oregon
334 SE 146th Avenue
Portland, Oregon 97233
FINANCIAL SUMMARY -
7103 SE 60th Avenue & 334 SE 146th Avenue
Portland, Oregon
Creative Minds was established in 1997 and operates seven
eco-friendly and certified preschools and child development
centers in the Portland Metropolitan Area. Creative Minds
schools are proud to offer media-free educational and healthy
environments with the children's interests and parent's needs in
mind.
Cadence Education School of Excellence is leasing both
buildings dba as Creative Minds Learning Center. Cadence
Education is a national company and is one of the largest
premier early childhood educators in the United States. They
operate nearly 225 private preschools across the country. With
more than 27 years in business. Cadence Education has
developed an unparalleled expertise in preparing students to
thrive in the next step of their childhood. For additional
information about Cadence Education, please visit
www.cadence-education.com.
*Tenant is responsible for all utilities, taxes, insurance, maintenance
and operating expenses.*
Financial Analysis - Portfolio
Purchase Price: $1,700,000
Down Payment: (30%) $510,000
Principal Amount: $1,190,000
Interest Rate: 4%
Amortization: (25 years) 25
Tenant SF 2019 Income
Creative Minds - Woodstock 4,239 $49,939
Creative Minds - Gateway 2,118 $49,939
Totals 6,357 $99,378
Net Operating Income $99,378
Debt Service $75,375
Net Cash Flow after Debt Service $24,003
Principal Reduction $28,287
Total Return $52,290
Capitalization Rate 5.85%
Cash on Cash Return 4.71%
Total Return 10.25%
PROPERTY INFORMATION
• Built in 1923
• 1,278 SF Building
• 21,350 SF Lot
• .49 Acres
7103 SE 60th Avenue & 334 SE 146th Avenue
Portland, Oregon
• Built in 1967
• 2,560 SF Building
• 14,375 SF Lot
• .33 Acres
Absolute NNN Leased Investment - Both locations have a 10 year lease with (2) 5 year options to renew. Leases started in 2018.
Must be purchased together. Please do not disturb the tenants.
LOCATION
SE Ogden St
7103 SE 60th Avenue
Portland, Oregon 97206
LOCATION
SE Stark St
334 SE 146th Avenue
Portland, Oregon 97233
LOCATION
Woodstock: The Woodstock Neighborhood is quintessential Portland with lots of bungalows, local shops and a fun laidback vibe. Woodstock is located
in inner SE Portland between Holgate and Johnson Creek and 39th and 45-60th Avenues. Neighborhoods that are near the Woodstock Neighborhood are
Eastmoreland Heights, Creston Kenilworth and Reed. The Woodstock Neighborhood is known for its bustling commercial core on SE Woodstock Blvd
between SE 39th Ave and SE 52nd Avenue.
7103 SE 60th Avenue
Portland, Oregon 97206
Somewhat Walkable: Some errands can be accomplished on foot.
55 Walk Score
.Some Transit: A few nearby public transportation options. 42
Transit Score
Flat as a pancake, good bike lanes. 80
Bike Score
LOCATION
Gateway Business District Once considered the 'Gateway to the Columbia Gorge'. The Gateway Business District stretches from
102nd to 162nd Avenues and covers nearly 25% of East Portland. Designated an Eco District in 2009, Gateway has committed to
be one of the most sustainable business districts in the city, planting more than 2,500 trees in the district and helping customers
recycle with unique garbage cans in the public right of way.
By 2020, only one part of the Portland metropolitan region will stand
out for unequalled convenience: the I-205 corridor, anchored by the
Gateway Regional Center (GRC). This is because Gateway sits at the
nexus of two major freeways I-205 and I-84, light rail connections to
points east, west and (shortly) north, and four primary east-west
arterial collectors. It is the transit hub for the east side, and enjoys the
luxury of two light rail stations, one of which is a Transit Center.
334 SE 146th Avenue
Portland, Oregon 97233
Somewhat walkable 58 Walk Score
Good Transit 54 Transit Score
Very bikeable 77 Bike Score
AERIAL OVERVIEW
7103 SE 60th Avenue & 334 SE 146th Avenue
Portland, Oregon
DEMOGRAPHICS
2019 DEMOGRAPHICS ANALYSIS 1 Miles 3 Miles 5 Miles
Total Population 23,541 175,100 434,722
Total Number of Households 9,132 71,470 180,826
Total Number of Persons per Household 2.55 2.41 2.35
Average House Value 402,572 443,991 474,158
Average Household Income 78,490 84,546 91,309
Median Age 37.9 38.3 38.0
Population by Sex - Male 11,784 86,206 214,439
Population by Sex - Female 11,756 88,894 220,284
7103 SE 60th Ave.
Portland Oregon 97206
60th & PROPERTY LOCATION - 1,240
60th & HENDERSON- 2,029
60th & SE LAMBERT- 1,246
2019 ADT TRAFFIC COUNTS
DEMOGRAPHICS
2019 DEMOGRAPHICS ANALYSIS 1 Miles 3 Miles 5 Miles
Total Population 25,770 172,993 360,760
Total Number of Households 8,905 61,577 134,007
Total Number of Persons per Household 2.84 2.75 2.65
Average House Value 285,681 298,666 343,598
Average Household Income 62,971 63,212 73,781
Median Age 33.7 35.8 37.0
Population by Sex - Male 12,932 84,938 177,638
Population by Sex - Female 12,838 88,055 183,122
334 SE 146th Ave.
Portland Oregon 97233
2019 ADT TRAFFIC COUNTS
STARK & 146th - 23,501
I48th BETWEEN STARK & BURNSIDE - 5,000
KELLER WILLIAMS REALTY PORTLAND CENTRAL
919 NE 19TH AVE, SUITE 100, PORTLAND, OR 97232 Each Office is independently owned and operated
Leased Investment Opportunity
7103 SE 60th Avenue Portland, OR 97206
334 SE 146th Ave.Portland OR 97233
Heather Miller
KW Commercial
Licensed Oregon Broker
(503) 444-5819
James Gillespie
Foundation Commercial Group
Oregon Principal Broker
503.890.5775
Confidentiality & Disclaimer:
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or
warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability,
financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or
information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active
conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for
a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate
third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and
consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or
assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/
or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and
governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with
an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney.
Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers,
architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Chicago-O'Hare in compliance with all applicable fair housing and equal
opportunity laws.
Updated 1.2.2020