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Portland, OR - 100% Leased - Restaurant
Why Buy This Property
- CAP Rate 17% at the Minimum Bid!
- 3,431 SF fully leased restaurant with basement
- 100% Leased - Net Operating Income $63,161
- 2016 Real Estate Taxes $7,825
- Leased through March 31, 2018 with (3) five year options
- At the corner of Thurman & 27th Avenues
- On-site parking
- Close proximity to Montgomery Park
Description
100% leased restaurant in Portland's Northwest District located at 1900 27th Avenue, Portland, OR and located in the Northwest District's most poplular commercial and residential area know for its history and old Portland style buildings both residential and commercial packed tightly together along with sleek new condominiums, just blocks away is the famous Montgomery Parke office complex.
Property Location
Auction / Date / Time
April 24, 2017 3:00 PMProperty Video
Offering Strategy
MINIMUM BID: $425,000
Inspection Dates
Inspection 9:00 AM sharp - April 12, & 19
The inspection tour begins at ten minutes after the posted inspection time. Please do not contact the tenant directly, although you are invited to visit Rae's and enjoy a fabulous lunch or dinner anytime!
Auction Location
Portland Oregon Live Auction - Montgomery Park, 2701 NW Vaughn Street, Mt. Adams Room 2nd Floor, Portland, OR
Details
Certified Funds To Bid : $30,000
Buyer's Premium (Buyer's Fee) : 7% of the high bid
In Cooperation With : Bill Reif, Licensed Oregon Broker
Contact Us
Fine & Company LLC
Michael A.Fine, CCIM, CAI, AARE
Illinois, United States
312-278-0600
michael@fineandcompany.com
Other Information
Broker Participation : Buyer's Agent participation is invited!
A 2% referral fee will be paid to the REALTOR®/Broker whose registered buyer closes on this property. Please refer to the Buyer Broker registration requirements in the Terms of Sale.
Licensing : Fine & Company, LLC, Licensed Illinois Broker
Terms Of Sale : This auction is being conducted subject to the Terms of Sale and Purchase and Sales Agreement contained in the Bidder's Information Packet. You may dowload the Terms of Sale below.
Disclaimer : The Seller, Broker, and Auctioneer and their agents assume no liability for inaccuracies, errors, or omissions in the auction marketing materials, including the Bidder's Information Packet. All square footage, dimensions, real estate taxes, and common area fees, if any, are approximate. All materials are subject to inspection and verification by all parties relying on them. This offering is subject to prior sale and may be withdrawn, modified, or cancelled without notice at any time. This is not a solicitation or offering to residents of any state where this offering is prohibited by law.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap status, familial status or national origin or any other classes under state or local law or intention to make any such preference, limitation, or discrimination.