FOR SALE $3,950,000€¦ · 1 FOR SALE -$3,950,000 VANE LAND OMPANY -3207 SW First Avenue -Lair...

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FOR SALE - $3,950,000

VANCE LAND COMPANY - 3207 SW First Avenue - Lair Hill - Portland Oregon -

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OFFERING MEMORANDUM

Table of Contents Commercial Black, LLC

This Offering Memorandum contains select information pertaining to

the business of the Property at 3207 SW 1st Avenue in Portland,

Oregon. It has been prepared by Commercial Black, LLC. This Offering

Memorandum may not be all-inclusive or contain all of the

information a prospective purchaser may require. The information

contained in this Offering Memorandum is confidential and provided

solely for the purpose of review and consideration by a prospective

purchaser of the Property.

For additional information regarding the purchase and sale of this

investment property, to schedule a tour, or to submit an offer, please

contact:

John Gibson, Principal Broker, Commercial Black. Licensed Oregon

Real Estate Agent #971000078

[email protected] 503.234.0820

For additional information regarding the leasing of the existing

vacancies for this property, please contact:

Gary Owca of Bridgeway Realty Resources, LLC

Licensed Oregon Real Estate Agent #200604440

[email protected] 503.415.0415

Property Highlights Page 3

Property Aerial and Site Map Page 4-5

Floor Plans and Interior Photos Page 6-10

Tenant Information Page 11-12

Owner User Analysis Page 13

Transaction Guidelines Page 14

Confidentiality and Disclaimer Page 15

VANCE LAND COMPANY WAREHOUSE OFFERING MEMORANDUM COMMERCIAL BLACK LLC

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HIGHLIGHTS

Potential Owner User / Investment Opportunity Commercial Black is pleased to offer Vance Land Company Warehouse, a

+/- 22,011 SF Fully Restored Commercial Property located in Lair Hill (SW

PDX). Constructed in 1913, this amazing property has over 12,000 SF available

on the first floor and lower level for occupancy by an owner user.

After the tenant income you are occupying and incredible property at the low-

est cost to own in this market.

COST TO OWN AFTER TENANT INCOME +/- $5.24 PSF NNN !

Notable Features

Great Investment Property - 1031 Exchange Option or unique opportunity for a user to occupy space in a building they own and subsidize the mortgage with income from current tenants.

Brought to most current code for fire/life safety with expanded sprinkler

Newly constructed dual fire rated stairwells to code

Building has a new roof, interior and exterior paint

Computerized sump pump system

Elevator service to all four floors

2 Grade level roll up doors

2 ADA compliant rest rooms on main floor

Common area includes secured entry with mailboxes

POWER: Upgraded Electrical

Central location close to downtown and South Waterfront, hundreds of mil-lions of dollars in private sector spending in this area

Zoned CS (Commercial Storefront)

PROPERTY OVERVIEW


Address: 3207 SW 1st Avenue Portland, OR 97239 Net Rentable Area +/- 22,011 SF

% Leased +/- 42%

Year Built 1913

Number of Floors Four

Lot SF 5,000 SF lot and 1,000 SF lot

Cost Per SF: $184.00 !!!!

Cost to own after debt: +/- $5.24 PSF P&I (Net) !!!

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PROPERTY AERIAL


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SITE


Located in the Lair Hill Neighborhood just south of Downtown Portland Oregon. Short distance to south

west Portland Central Business, South Water-Front, Johns Landing and River Place Districts.

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Floor Plans Main Floor Plan (Vacant)

Entire Ground Floor Available for Occupancy +/- 4,746 SF

Contiguous with first lower level vacancy of (+/- 6,214 SF)

Concrete Floors

High Ceilings

Concrete Columns

Street Level

Store Front

Production Space

Owner Occupy

Close In Lair Hill

Low Cost to Own

VACANT: +/- 4,746 SF

Suite 101


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Floor Plans Second Floor Plan


100% Leased

Suite 203

Suite 200 Suite 201

Art Studio

Suite 204

Suite 202

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Floor Plans Sublevel 1 Plan (Vacant)


VACANT: +/- 6,214

Suite 01

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Floor Plans Sublevel 2 Plan

VACANT: +/- 1,398 RSF

Suite 04

Suite 08 and 09

Suite 07

VACANT: +/- 324 RSF

SUITE 05


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Interior Photos


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TENANT INFORMATION

Tenant Profiles


Devine Color is dedicated to empowering designers and homeowners with luminous, artist-created interior

paint colors that enhance any decor style. Creative director Gretchen Schauffler used her background in art

therapy and graphic design to found the company out of her home in 1998, developing a curated palette of

trend-proof colors that feel fresh and timeless however they are used. Each radiant hue, created by hand and

custom mixed on canvas to achieve the perfect depth and balance, also has a unique light-reflective quality

thanks to the company's exclusive formula. Devine Color is available through select retailers across the U.S., as

well as online. As part of the Valspar Corporation, Devine Color benefits from the global footprint as well as

research and development capabilities of one of the world’s leading coating manufacturers.

From strategic campaign development to custom team trainings, clients call on Med|Ed Digital for creative and

quantitative social media expertise. Med|Ed Digital works with companies to build brand awareness, engage

and grow online communities, and drive qualified social traffic to your business. Engagement includes custom

social strategy development, based on existing social media presence and available resources. Key services

include content strategy, community management, social advertising, campaign design and management,

social policy development, and staff training.

Franklin Guitars are the work of master luthier Nick Kukich, who has more than four decades of guitar building

experience behind him. Prior to building a custom guitar, Nick will discuss wood selection, appointments and

options with clients, as well as help create set-up preferences. He hand carves each neck individually, taking

into account for hand size, playing style, and preference. Each guitar remains a unique piece of art and a

personal expression, built by a renowned craftsman.

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TENANT INFORMATION

Tenant Profiles


The Oregon Pinot Noir Club leaped into operation in 1994 with the goal of providing Oregon's best pinot noirs to wine lovers around the country and around the world. Since then, it has become Oregon's leading national retailer of fine wines. Thanks to the strong support of its clients, The Oregon Pinot Noir Dot Com enjoys strong allocations of all of the top wines made in Oregon. Travelling frequently to barrel-taste with winemakers, it seeks out and acquires the top Oregon wines, including single-vineyard bottlings, special cuvees, and limited-release wines that are often not available outside of Oregon.

Portland Razor Co. handcrafts modern straight razors and shaving supplies in Portland, OR using high quality materials

and traditional manufacturing techniques. Their products are made by skilled craftsmen, who combine life long talents

of working with metal and wood with classic American manufacturing. The production of a high quality straight razor

extends the pursuit of sustainable practices to a zero waste solution. In addition to production space, the company also

houses the Portland Shave Shop, its retail venue and host to individual appointments and master barber classes.

Corvine Consulting provides services including Engineering System Design and Analysis, Prototype

Development and Engineering Consulting. Key areas of focus include Software and Firmware Engineering,

Digital Electronics Design and Analysis, Requirements Capture, Team Building, Vendor and Customer

Management.

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OWNER USER ANALYSIS OPERATING EXPENSES


Operating Expenses Annual

Administration $768.00 $0.03

HVAC $3,440 $0.16

Insurance $15,616 $0.71

Landscaping $330 $0.01

Maintenance $4,212 $0.19

Management Fee $12,003 $0.55

Alarm Monitoring $660 $0.03

Repairs $1,210 $0.05

Elevator $1,600 $0.07

Property Taxes $6,128 $0.28

Trash Removal $3,114 $0.14

Gas $1,780 $0.08

Electricity $13,920 $0.63

Telephone $2,830 $0.13

Water $3,360 $0.15

Total: $71,001 $3.23

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TRANSACTION GUIDELINES

Offering Procedure

The offering of Vance Land Company Warehouse is being managed exclusively by Commercial Black, LLC. Seller requests that all inquiries be directed to John Gibson, Principal Broker.

Prospective purchasers are required to execute a Non-Disclosure Confidentiality Agreement prior to receiving any and all Seller documents including: lease abstracts, rent roll, leases, financial statements, property management, contracts, and vendor contracts.

Tours and on-site inspections of the property can be arranged directly with Commercial Black, LLC.

Sellers of 3207 SW 1st Avenue are Licensed Oregon

Real Estate Agents.

John Gibson, Principal Broker Gary Owca, Licensed Oregon Real Estate Agent 623 NE 23rd Avenue 2020 SW Salmon Street Portland, Oregon 97232 Portland, Oregon 97205 Office: 503-234-0820 Mobile: 503.4150415 Mobile 503.860.3267 [email protected] [email protected] ORL# 200604440


DISCLAIMER - Neither Commercial Black nor the Owner makes any representation or warranty, express

or implied, as to the accuracy or completeness of the information contained herein is or shall be relied

upon as a promise or representation as to the future performance of the Property. This Offering Bro-

chure may include certain statements and estimates by Commercial Black with respect to the projected

future performance of the Property. These Assumptions may or may not be proven to be correct, and

there can be no assurance that such estimates will be achieved.

Further, Commercial Black and the Owner disclaim any and all liability for representations or warranties,

expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral

communication transmitted or made available to the recipient shall be entitled to rely solely on those

representations and warranties that may be made to it in any final, fully executed and delivered Real

Estate Agreement between it and Owner. The information contained herein is subject to change without

notice and the recipient of these materials shall not look to the owner or Commercial - Black, nor any of

their officers, employees, representatives, independent contractors or affiliates, for the accuracy or com-

pleteness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own

comprehensive review and analysis of the Property including but not exclusive to, a determination of use

and occupancy for compliance.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospec-

tive purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully

executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser

proceeds at its own risk.

FOR SALE $3,950,000€¦ · 1 FOR SALE -$3,950,000 VANE LAND OMPANY -3207 SW First Avenue -Lair...

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