Location
This attractive property is in a highly visible, high-traffic location within walking distance of the Moda Center, Convention Center, Lloyd Center, the Pearl District, and Old Town. Traffic counts in every direction are exceptional, and can be seen on the attached map. The property is also on the Portland Streetcar line, with streetcars running approximately every 20 minutes in both directions. The stations in either direction are within 200 feet of the property.
The property is not only an excellent income-generating retail property as-is, it is also a prime redevelopment opportunity. The CX zoning in this location allows for construction up to 100 feet in height, with a FAR of 4:1. Additional FAR is available for purchase through a third party.
Description
This exceptionally well-located landmark retail property offers flexibility for either an investor or a developer. The majority of tenants have been at this location from four to twelve years. Rents for lower level storage area tenants (drive-in ramp access) have remained intentionally below-market to facilitate long-term occupancy by stable month-to-month tenants.
The seller plans to vacate his 2,300 SF creative office space in September 2020. With high ceilings, exposed beams, skylights, and trendy break room and bathroom design, the space is attractive to either an owner-occupant or a new tenant.
Note that both Gluten Free GEM and Creo Chocolate are wholesale producers in addition to having a retail presence.
Highlights
Property is in an Opportunity Zone
Outstanding Close-In Location with extraordinary accessibility
Excellent for investor or developer
Long-term tenants on short-term leases gives added flexibility
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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.
What is the asking price for 122 Northeast Broadway in Portland?
The asking price for 122 Northeast Broadway is $2,999,000
What is the building size of this Retail property in Portland, OR?
The size of the building/unit at 122 Northeast Broadway in Portland is 20,000 square feet
How much land does the Portland, OR property at 122 Northeast Broadway include?
122 Northeast Broadway in Portland includes 0.230 acres of land
What kind of Retail is the propery at 122 Northeast Broadway?
The property at 122 Northeast Broadway Portland, OR 97232 is listed as a Other Retail Retail property
What is the population within 1 mile of 122 Northeast Broadway in Portland?
The population within 1 mile of 122 Northeast Broadway Portland, OR 97232 is 25,969 people.
Who do I contact for questions about 122 Northeast Broadway?
You should contact the listing agent,
Dann Wonser, for any details regarding this commercial listing.
