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323 NW 13th AvePortland, OR 97209
Block 90
Asset ClassMixed Use, Retail, Office
Deal Size$9.55 M
Cap Rate: 8.75%Access Data Room
overview of deal

Overview

Newmark (NMRK), as an exclusive advisor, is pleased to present the opportunity to acquire the controlling condominium interest in Block 90 (the “property”) – a mixed-use assemblage of six (6) units totaling 48,058 square feet, located along the Pearl District’s highly coveted NW 13th retail corridor. With a 3.0% vacancy rate, the NW 13th retail corridor boasts the lowest retail vacancy rate in downtown Portland. The Pearl District demographics boast an average household income over $100,000 and a highly educated workforce with 60% achieving a bachelor’s degree or higher.

 

Situated in Portland’s most desirable submarket, the Pearl District is a testament to urban renewal. Block 90 benefits from an exceptional location along NW 13th, the district’s premier retail corridor, which is rapidly becoming one of the city’s top destinations for dining, shopping, and cultural activities. Offering a blend of modern amenities, a vibrant walkable atmosphere, and seamless connectivity to the greater Portland metro area, the location epitomizes urban living and retailer paradise.

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Investment Highlights

  • Captive trade area with exceptional demographics
  • NW 13th Corridor Lowest Retail Vacancy Rate in Downtown Portland at 3.0%
  • Highly sought-after submarket in Portland’s vibrant Pearl District
  • Desirable dock high corner retail on highly visible East/West thoroughfare
  • Sticky tenancy with anchor retailer in occupancy since 2007
  • Highly accessible location with direct connectivity to the greater Portland metro
  • Beneficial condominium ownership with controlling interest
deal gallery image
deal gallery image
deal gallery image
323 NW 13th AvePortland, OR 97209

Contacts

Nick KuchaVice Chairman, Pacific Northwest Capital Markets(503) 972-5522nick.kucha@nmrk.com
Travis Parrott, SIORManaging Director503-972-5535travis.parrott@nmrk.com
Josh SchweitzManaging Director503-970-0094josh.schweitz@nmrk.com
Trozell BenwareBrokerage Services Specialist971-266-4956trozell.benware@nmrk.com

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Listing provided by Revere CRE