The information contained in this marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Commercial Integrity, NW and should not be made available to any other persons or entities without written consent of Commercial Integrity, NW. The information contained herein has been prepared to provide summary, unverified financial and physical information to prospective purchasers to establish a preliminary level of interest in the Subject Property.
THE INFORMATION CONTAINED HEREIN SHALL NOT BE A SUBSTITUTE FOR A THOROUGH DUE DILIGENCE INVESTIGATION.
Commercial Integrity, NW has not made any investigation, and makes no warranty or representation with respect to the income or expense for the Subject Property, the future projected financial performance of the Subject Property, the size or square footage and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plan or intentions to continue to occupy the Subject Property. The information contained herein has been obtained from sources we believe to be reliable; however, Commercial Integrity, NW has not verified and will not verify, any of the information contained herein, nor has Commercial Integrity, NW conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential purchasers must take appropriate measures to verify all of the information set forth herein.
THE SYNOPSIS
ASSET SYNOPSIS
LOCATION
HIGHLIGHTS
HIGHLIGHTS
721 NW 21ST AVE | PORTLAND, OR
$1,101,000 | $441 PSF
$1,101,000
$441/SF 721 NW 21ST AVE | PORTLAND, OR
721 NW 21ST AVE | PORTLAND, OR
2,500 NRSF
$10.8b CONSUMER SPENDING IN A 5 MILE RADIUS
INVESTMENT HIGHLIGHTS
EXCEPTIONAL LOCATION WITH UNMATCHED EXPOSURE
Situated in the heart of Portland's vibrant and thriving NW 21st Avenue, this property is positioned between NW Lovejoy and NW Glisan, offering unparalleled exposure in one of the city's most coveted retail corridors. Known for its eclectic mix of boutique shops, trendy restaurants, and bustling cafes, NW 21st Avenue is a favorite destination for both locals and tourists seeking a unique and lively urban experience. This area boasts a dynamic atmosphere that draws a diverse crowd, from young professionals and families to students and visitors exploring the city.
STRONG MARKET PERFORMANCE & LIMITED AVAILABILITY
The close-in Northwest submarket has demonstrated remarkable performance over the past three years, with average transaction cap rates at a competitive 5.2%. The scarcity of available properties underscores the exclusivity of this opportunity: since January 1, 2022, there have been only 13 sales in this submarket, with just one occurring in the past year. This limited availability makes this offering a rare and highly desirable off-market investment opportunity.
Recent trends in the Federal Reserve's policy indicate a higher likelihood of a stable economic environment. Despite some fluctuations, treasury yields have decreased by over 20 basis points since April, signaling a favorable financial climate for investors. With a strong labor market and gradually declining inflation, the Federal Reserve has maintained current rates, with plans to reduce them soon. This stability and anticipated economic adjustment offer investors confidence in a promising investment landscape.
TRANSIT: 2 MIN WALK TO NW 21ST & LOVE-JOY (PORTLAND STREETCAR)
AIRPORT: 24 MIN DRIVE TO PORTLAND INTERNATIONAL AIRPORT
TWENTY FIRST AVE KITCHEN & BAR
TENANT SPOTLIGHT
Information from www.twentyfirstave.com & www.alphamaps.com
TWENTY FIRST AVE HAD BEEN A DREAM A LONG TIME IN THE MAKING. AS MULTI-GENERATIONAL OREGONIANS, THE TWO FRIENDS (AND NOW BUSINES S PARTNERS) WANTED TO CREATE A WELCOMING PLACE FOR ALL WITH AN UNMISTAKABLY NORTHWEST VIBE, BUT THAT ALSO FELT LIKE AN EXTENSION OF THEIR OWN LIVING ROOMS. TWENTY FIRST AVE REFLECTS THEIR IDEA OF THE PERFECT PLACE TO START, CONTINUE, OR COMPLETE A GREAT NIGHT OUT IN PORTLAND. THEY’VE FOCUSED ON LOCAL DRAFTS & SPIRITS, A FUN AND FRESH COCKTAIL MENU, DELICIOUS FOOD PREPARED WITH LOCAL INGREDIE NTS WHEN POSSIBLE, A GREAT PATIO AND SEASONAL OUTDOOR BAR, AND OF COURSE THEIR FAVORITE ACTIVITY…KARAOKE!
