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12724 SE Stark St
Portland, OR 97233 Mill Park

$424,500 USD

Medical Condo For Sale  •  1,550 SF

Property Details

  • Property Type Medical
  • Total Building Size 1,550 SF
  • Lot Size 0.04 AC
  • Building Class B
  • Year Built 1981
  • Cap Rate 6.10 %
  • Tenancy Multiple
  • Zoning CO2, Portland
53 Transit Score
49 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 12724 Office 1,550 SF $424,500 USD
  • Unit Size: 1,550 SF
  • Condo Use: Office
  • Price: $424,500 USD
  • Sale Type: Investment or Owner User
  • Price/SF: $273.87 USD
Description
This sale is only for the center unit which is 1550 sq ' on two tax lots. Can be divided for two separate businesses (500 sq ' and 1050 sq', or 220 sq' and 1330 sq', as two examples). Entry doors and separate bathrooms in the front and back of building. There is currently a physician on the west side of this unit and a financial services business on the east side.  Great for medical, dental, law, architect, engineer, CPA or any other service based commercial business.

Sale Notes
This unit has been recently remodeled top to bottom with fresh paint, new floor coverings, new window blinds, new light fixtures, etc. There is currently an audiology clinic leasing this unit that has been there over 25 years. If you choose to purchase this property as an investment, they should be willing to extend with another long term deal. If you prefer to move in asap, their lease ends in July 2025 but they may be willing to move out sooner.  If you do not need the entire 1500 sq' for your business, you could split the space and continue leasing to the current tenant while using the remaining space for your own needs. This complex is in a well managed HOA property that includes garbage, sewer, electricity, water, exterior maintenance, groundskeeping and property management. Includes HVAC throughout.  Ample parking surrounds this centrally located office. Current HOA dues are $625 per month.

Highlights

Centrally Located in high density business and residential area
Very well managed HOA and property condition
Recently remodeled on two tax lots that can be split into two separate businesses.
Can be used for most any type of office space

Financial Summary

Cap Rate: 6.10 %
Total Expenses: $0 USD

Major Tenants

Tenant SF Occupied Lease End Date
Hearing Life
HearingLife

Amenities

  • Bus Line

Public Transportation

Commuter RailDriveWalkDistance
19 min - 9.4 mi
Transit/SubwayDriveWalkDistance
E 122nd (MAX Blue Line - Tri-County Metropolitan Transportation District of Oregon Rail (TriMet Rail)) 2 min 10 min 0.5 mi
AirportDriveWalkDistance
Portland International 17 min - 8.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 10
Type: Surface
Included in Rent: Yes
Dan King 503-789-2323 Three Kings Investors LLC
Dan King 503-789-2323 Three Kings Investors LLC