May 10, 2021
NORRIS & STEVENS, INC. BROKERS $3.2M SALE IN SE PORTLAND, OREGON
Sayer Living Trust recently completed the $3,250,000 sale of an approximately 10,000 SF retail space located at 5341 SE McLoughlin Boulevard in Portland Oregon.
The single story freestanding building was constructed in 1951, and was previously occupied by a paint store. The shell is 9,920 SF, with a 1,200 SF office and a 3,450 SF storage shed. The property features 4 grade loading doors, 14’ ceilings, a hazardous containment room, pylon signage on McLoughlin Boulevard, and 27 parking spaces.
Ideally located in SE Portland, the property offers outstanding visibility and benefits from its proximity to the Sellwood neighborhood and many local and national retailers. It is also 10 minutes from downtown Portland, and 20 minutes from Portland International Airport.
Within a two-mile radius of the property, there are an estimated 33,000 households with an average annual household income of $117,000, so any business occupying the space should do quite well in the coming years.
Greg Nesting and Gabe Schnitzer with Portland-based Norris & Stevens, Inc. represented the Seller, Sayer Living Trust in the transaction, as well as the Buyer, APG McLoughlin, LLC.
Norris & Stevens, Inc. is one of the largest locally-owned, full-service commercial real estate brokerage firms in Oregon and SW Washington. A member of the TCN Worldwide network, the firm was founded in 1966 and currently employs around 75 professionals in investment sales, leasing and property management for office, industrial, retail, land, and multi-family properties. The firm’s property management portfolio exceeds 5.9 million square feet of commercial space and 9,100 apartment units.