Multi-Tenant    

The Cully Building

 Portland, OR

Asking Price

$2,390,000

Stabilized Cap Rate

8.00%

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Opportunity

Owner-User

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Year Built

1884

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Avg HHI

$138,825

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Leasable SF

13,349 SF

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Strong Location

Access to I-5 and I-84

For more details on this exclusive listing

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INVESTMENT HIGHLIGHTS

  • Owner-user/value-add opportunity with significant upside upon lease-up of available spaces.
  • Outstanding amenities including off-street parking, a high ceiling/creative office 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.
  • Built in 1884 with a partial seismic retrofit and renovation completed after purchase in 2002.
  • Listed on the U.S. National Register of Historic Places, the Cully Building offers a pride-of-ownership asset in this aesthetic building.

Exclusively Listed By

Michael Kapnick

Vice President
  mkapnick@northmarq.com      503.210.4068
OR Lic. #960500191

Northmarq

4949 Meadows Road, Suite 490
Lake Oswego, OR 97035

northmarq.com