Seller financing available! Located in St John’s, this property is well situated as an open storage facility. The 1.3-acre parcel is securely tucked away between The Port of Portland and Union Pacific Railroad. Key Storage is an established, cash-flowing business currently self-managed at a cap rate of 8.8%. There is significant opportunity to increase rents as many of the spaces are currently renting below market rates. All leases are month-month, and as spaces have become available, they have easily leased up at market rates. A new owner could bring in third-party management to earn passive income at a 7.9% cap rate or continue to self-manage and increase returns upwards of 9%. This property includes a detached management office and 2br 1ba 949sf single family house that could be used as a manager’s residence or separate rental property. Seller financing terms- Down payment: 60%, Interest rate: 6%, Terms: 5 years, Amortization: 30 years, Monthly payment: $3,597
Listing Provided Courtesy of Darby Brillanceau Lewis, Works Real Estate
General Information
635124088
LightIndustrial
85
DOM
1.3 acres
1013
1926
IG2
Multnomah
R323762
CommercialSale
LightIndustrial
SECTION 02 1N 1W, TL 1500 1.30 ACRES
Listing Provided Courtesy of Darby Brillanceau Lewis, Works Real Estate
Krishna Realty data last checked: Jul 28, 2025 11:16 | Listing last modified Jul 24, 2025 12:20,
Source:
Seller financing available! Located in St John’s, this property is well situated as an open storage facility. The 1.3-acre parcel is securely tucked away between The Port of Portland and Union Pacific Railroad. Key Storage is an established, cash-flowing business currently self-managed at a cap rate of 8.8%. There is significant opportunity to increase rents as many of the spaces are currently renting below market rates. All leases are month-month, and as spaces have become available, they have easily leased up at market rates. A new owner could bring in third-party management to earn passive income at a 7.9% cap rate or continue to self-manage and increase returns upwards of 9%. This property includes a detached management office and 2br 1ba 949sf single family house that could be used as a manager’s residence or separate rental property. Seller financing terms- Down payment: 60%, Interest rate: 6%, Terms: 5 years, Amortization: 30 years, Monthly payment: $3,597
