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Jordan Menashe's Menashe Properties Acquires American Bank Building On Southwest Morrison Street For $13.6M
SOLD
$13,600,000
Oregon
See Similar DealsRetail183,735 SF
Sold 09/15/2023
SOLD
Jordan Menashe's Menashe Properties Acquires American Bank Building On Southwest Morrison Street For $13.6M
621 Southwest Morrison Street
See Similar DealsRetail183,735 SF
Sold 09/15/2023
Summary
OREGON
Asset Type:Retail
Price Per Square Foot:$74
Total Square Footage:183,735 SF
Transaction Type:Sale
Menashe Properties, a Portland-based commercial real estate firm, has acquired the American Bank Building at 621 SW Morrison Street in downtown Portland for $13.6 million. The retail property spans a total area of 183,735 square feet, with a price per square foot of $74.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,600,000
- Address: 621 Southwest Morrison Street, Portland, OR
- Market: Portland, OR
- Buyer: Jordan Menashe - Menashe Properties
This transaction showcases Menashe Properties' commitment to downtown Portland, further establishing their presence in the area's commercial real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$725,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,317.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,470.94
Annual Debt Service$773,651.26
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