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728 NE DEKUM STREET 0.11 acres in Portland, OR Investment Real Estate • www. hfore.com • (503) 241.5541 OFFERING MEMORANDUM 0.11 ACRES ON NE DEKUM ST• PORTLAND, OR PRICE SUMMARY Located in the heart of the Dekum Triangle, the property at 728 NE Dekum offers developers a rare opportunity to acquire a pivotal corner lot in an extremely popular, yet still relatively Price: $850,000 unknown neighborhood hub in close-in Northeast Portland. Price Per Sq. Ft.: $170 Anchored by a collection of popular eateries, the Dekum Triangle serves as the social epicenter of the up-and-coming Woodlawn Neighborhood. Establishments like Breakside Brewery, the PHYSICAL INFORMATION Firehouse Restaurant, Good Neighbor Pizzeria, Woodlawn Coffee & Pastry, the Grand Army Address 728 NE Dekum St Tavern, the Village Ballroom, and the Oregon Public House all call the Dekum Triangle their home. It is not uncommon to find sidewalk picnic tables in front of these businesses filled with City Portland patrons enjoying brunch and happy hours. County Multnomah Zoning CM2 728 NE Dekum is a 5,000-square-foot lot with CM2 zoning, which generally allows for a 45-foot height limit and a 2.5:1 FAR, though certain bonuses and restrictions may apply (a developer’s Acres 0.11 (5,000 sf) package is available upon request). Existing Building Sq. Ft. 2,130 The property currently contains a small commercial building that is leased to several wellness-oriented tenants including a yoga studio, acupuncturist, and martial arts school. TAX INFORMATION The spaces currently lease month-to-month and total $3,000. The southern half of the lot was Parcel Number 311506 formerly used as a neighborhood garden store but is currently vacant and could potentially accommodate additional tenants, if the existing structures are maintained. For More Information 728 NE Dekum is an ideal location for a small, neighborhood-oriented mixed-use development Lee Fehrenbacher • [email protected] where both residential and retail spaces are in high demand. Greg Frick • [email protected] Todd Tully • [email protected] Jack Stephens • [email protected] Tyson Cross • [email protected] Adam Smith • [email protected] Khari Gates • [email protected] 2424 SE 11th Avenue, Portland, Oregon 97214 www.hfore.com • (503) 241.5541 • Fax: (503) 241.5548 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. ©2016 HFO Investment Real Estate LLC. Build your legacy is a service mark of HFO Investment Real Estate. 2 HFO INVESTMENT REAL ESTATE 0.11 ACRES ON NE DEKUM ST • PORTLAND, OR 728 NE Dekum St NE Columbia Blvd 30 30 5 NE Dekum St N Rosa Parks Way 728 NE Dekum St NE Ainsworth St NE Ainsworth St NE Killingsworth St NE Killingsworth St 99E NE Alberta St N Going St NE Prescott St NE Freemont St NE 15th Ave N Williams N Williams Ave N Interstate Ave N Interstate N Vancouver Ave N Vancouver N Mississippi Ave Willamette River NW Front Ave NE Knott St 405 5 99E 0.11 ACRES ON NE DEKUM • PORTLAND, OR 3 Woodlawn Apartments The Firehouse Restaurant Breakside Brewery Good Neighbor Pizzeria and Woodlawn Coffee AMENITY MAP Restaurants and Dining Shopping/Entertainment Lifestyle Services 1 99E 3 4 1. Javier’s Tacos 44. Top Nails 30 2. Black Rock Coffee 45. Nana’s Scoop Shop 3. Sutton’s Tire & Chain 46. U-Haul 2 6 7 5 4. Lombard Animal Hospital 47. Knockout Taco 48. Catalina’s 8 30 5. Georgie’s Ceramic & Clay 6. Taco Bell 49. Piedmont Station Food Carts 7. Teriyaki Heaven 50. Salvation Army 8. Mongolian Grill 51. PDX Tea 9 10 9. Sturgeon Frank’s Guide Services 52. Multnomah County Health 10. Sit Stay Fit Department 15 11. Willamette Valley Aquatic Club 53. Portland Police Department 728 NE Dekum St 12. Double J Tire Center 54. J P’s Framing & Gallery 13 14 16 11 12 NE Dekum St 13. The High Water Mark 55. US Post Office 14. Firehouse 56. Gino’s Teriyaki 17 18 19 15. Classic Foods 57. Amigo’s Produce Market 16. Upcycles 58. Norell Design 20 N Vancouver Ave 59. Elevated Coffee 21 17. Koken Market Rosa Parks Way 18. Oregon Kombucha 60. Boys & Girls Club 22 19. Woodlawn Coffee & Pastry 61. O’Reilly Auto Parts 20. Breakside Brewery 62. Curious Comedy Theater 23 21. Cafe Eleven 63. Horn of Africa 22. Henry V 64. Old Town Brewing 23. Parr Lumber 65. Scout & Co. 24 25 24. Starbucks 66. 7-Eleven NE Ainsworth St 25. Walgreens 67. Southern Styles & Barber 68. Pizza Hut 26 27 28 29 26. Ta-Dah 27. Popeyes Lousiana Kitchen 69. Wing Street 30 31 32 33 34 35 28. Safeway 70. AAA Heating & Cooling, Inc 29. Western Union 71. Motorcylce Tire & Wheel 36 37 38 39 NE 15th Ave 30. Fluff & Gravy Records 72. Caravan - The Tiny House Hotel 40 41 31. Bank of America 73. Dog Gone Happy 32. Fish Fusion 74. I Am Yoga 42 43 44 45 46 47 48 49 NE Killingsworth St 33. Wells Fargo 75. Cupcake Jones 34. Bennie’s Little Kicker BBQ 76. Gumba 50 51 52 53 54 55 56 57 35. Wing’s World Chicken & Waffles 77. Carioca Bowls ALBERTA ARTS 58 59 60 61 36. KFC 78. Gojo MISSISSIPPI DISTRICT 37. Subway 79. The Grilled Cheese Grill DISTRICT 62 63 64 38. Boost Mobile 80. Radio Room 65 66 67 39. Dream Nails 81. Bamboo Sushi NE 71 72 73 74 75 76 40. US Bank 82. DesiPDX N Williams Ave Williams N 84 68 69 70 77 78 79 80 81 82 83 41. Van’s Auto Shop 83. Lula’s Breakfast Cart NE Alberta St 42. ReClaim It! 84. Natural Grocers 99E 43. Rose City Ballet School 0.11 ACRES ON NE DEKUM • PORTLAND, OR 5 LOCATION: TO THE SOUTH 6 LOCATION: TO THE NORTH 0.11 ACRES ON NE DEKUM • PORTLAND, OR 7 PORTLAND METRO SNAPSHOT PORTLAND REGION Oregon’s largest city, Portland, is near the confluence of the Willamette and Columbia Rivers. The Portland Metro Area consists of four counties: Multnomah, Washington, Clackamas, and Clark County, Washington. APARTMENT MARKET DIVERSIFIED ECONOMY TOP 10 LISTS The Portland Metro Area consistently ranks Portland is home to the headquarters of Fortune among the nation’s lowest for apartment 500 companies Nike, Precision Castparts Portland consistently receives glowing reviews and vacancy rates according to the U.S. Census and Lithia Motors. Fortune 1000 companies rankings from the media. Bureau and other third-party services like REIS, headquartered here include Stancorp Financial, 2018 lists include: MPF Research, and Axiometrics. The U.S. Census Greenbrier Companies, Columbia Sportswear, • #4 Best City for Biking (Fast Company) ranked Portland as having the 6th lowest Schnitzer Steel Industries, and Portland General • #6 Best Place to Live (U.S. News and World Report) vacancy rate in the nation for the first quarter of Electric. • #10 Most Entrepreneurial State (Amazon.com) 2018 at 3.6%. Tech and software companies continue to 2017 lists include: REIS reports 2017 Portland metro year-over-year relocate their operations here or open major rents grew 3.3%. Overall rents have increased • #3 City with Best Opportunities for Job Seekers outposts in Portland. These companies enjoy This Year (Fast Company) every quarter since Q1 2010. Portland’s educated workforce, affordable high SKILLED WORKFORCE & STRONG EMPLOYMENT quality of life, and a low cost of doing business 2016 lists include: compared to the Bay Area. 54% of Portland workers have an associate’s • America’s Best City for Summer Travel (Travel + degree or higher, outpacing the national Companies which recently opened major Leisure) average of 38%. branches in Portland include Airbnb, Google, • Best City for Electric Cars in the U.S. Squarespace, Mozilla, Simple, Survey Monkey, (The Christian Science Monitor) According to the State of Oregon’s Employment SalesForce and New Relic, Inc. Portland’s • Best Places to Live 2016 (Money Magazine) Department, Portland enjoys one of the fastest tech startup companies include Viewpoint, • #8 Greenest City in the Nation (Wallethub) job growth rates in the Pacific Northwest, and Jama Software, Thetus, Urban Airship, Acquia, • #8, World’s Best Cities for Millennials (Matador the entire nation, having added 31,000 jobs in Elemental Technologies, Act-On, Puppet Labs, Network) 2016 and 28,000 jobs in 2017. and The Clymb. • Food and Drink Capital of America (The Telegraph – London) The Portland Metro Area’s unemployment • World’s #10 Best City to Live In (Metropolis Magazine) rate as of May 2018 is 3.7%—the lowest since 1995. 8 HFO INVESTMENT REAL ESTATE PORTLAND MARKET SNAPSHOT MAJOR EMPLOYERS GOVERNMENT SPORTSWEAR HEALTHCARE AND RESEARCH The U.S. Federal Government is Portland Nike has its world headquarters in Beaverton Health services are another major employment metro’s overall largest employer, with 20,500 and employs 12,000 Portland-area residents. sector for the Portland area. The top healthcare workers. The State of Oregon gives employment The company designs, develops and employers in the area are Providence Health to an additional 14,000 residents. manufactures footwear, apparel, equipment Systems, with 17,543 employees, and The and accessories. From here, Nike orchestrates Oregon Health Sciences University (OHSU), HIGH TECH & CHIP MANUFACTURING production and design for one of the world’s with 16,200 workers. OSHU is the recent Attracted by the Portland area’s educated most recognizable brands. In January, 2015, recipient of a total of $1 billion in donations workforce and relative low cost of doing Nike began a $1 billion expansion of its for cancer research from over 10,000 Oregon business, tech companies continue moving Washington County campus, adding three donors.