1111 NE Broadway, Portland, OR 97232

Irvington Place is a fully occupied, multi-tenant retail condo located on NE Broadway in Portland’s Irvington neighborhood. The property is leased to a mix of national and regional tenants, including Wells Fargo, Mattress Firm, Jimmy John’s, Heartfelt Veterinary, and New Identity. Each lease includes scheduled rent increases, and the weighted average remaining lease term is 5.7 years. The property benefits from frontage on Broadway, which sees over 23,000 vehicles per day. Safeway, located directly across the street, serves as a shadow anchor. The location provides immediate access to multiple MAX lines and the Portland Streetcar, which contribute to consistent customer traffic. The property includes 20 dedicated parking stalls within the larger condo’s first-floor parking lot. The surrounding area is undergoing redevelopment, with the nearby Lloyd Center being repositioned into a mixed-use district with new housing, hospitality, office, and entertainment options. Construction is underway on a new multi-level live music venue at the former Nordstrom location. The greater condo development consists of 54 total units, with the subject property being the only commercial unit. The remaining 53 residential units provide additional visitor traffic. Condo ownership centralizes major building elements at the HOA (roof/exterior/structure), reducing landlord operational burden while preserving leasing rights for the commercial unit. 59% of the gross leasable area is secured by national retailers. The surrounding demographics include approximately 29,000 residents within 1 mile and an average household income of $123,000.