29 NE 122Nd Ave Portland, OR 97230
Redevelopment opportunity with flexible zoning and high visibility.
Source:
Macadamforbes
Listing Agent: Joe Kappler
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Redevelopment Opportunity in Hazelwood
Located in the Hazelwood neighborhood of Northeast Portland, this property presents an excellent redevelopment opportunity. Currently leased to a Cricket Wireless store until March 31, 2024, the property generates a monthly rent of $2,918 (plus NNN), which will increase to $3,066 on April 1, 2022. The tenant has occupied the location since 2007. Zoned Commercial Mixed Use 3 by the City of Portland, the property allows for a wide range of uses, including retail, office, household living, and vehicle repair. The property is near the intersection of NE 122nd Avenue and E Burnside Street, offering convenient access to the MAX line and multiple bus lines. The location features off-street parking and is within walking distance of the MAX Blue Line. The property benefits from a highly visible location on NE 122nd Avenue and has a 5.7% cap rate based upon April's rent. Flexible zoning allows for generous development standards.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Cricket Wireless Authorized ...
Cell Phone Store
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.5382216
- Latitude
- 45.5230418
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FAQs
What type of property is this?
Retail space - Redevelopment opportunity with flexible zoning and high visibility.
Where is this retail space located?
The property is located at 29 NE 122Nd Ave Portland, OR.
What are key features of this property?
This property features: - Excellent redevelopment opportunity with Commercial Mixed Use 3 zoning.; - High-visibility location on NE 122nd Avenue.; - Current lease provides income of $3,066 per month (plus NNN) with a 5.7% cap rate.