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122-140 NE Broadway Portland, OR 97232

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Mixed-use property with redevelopment potential and excellent transportation access.

Property Features for 122-140 NE Broadway

General Information

Zoning
CXd

Building Details

Year built
1927

Source: Dann Wonser Agent Dann Wonser

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Mixed-Use Property in Opportunity Zone

This mixed-use property is located in an Opportunity Zone, potentially offering significant tax advantages. Zoned CXd, the site allows for redevelopment with a 100-foot height limit (125 feet with bonus) and a 4:1 FAR. The property features long-term tenants on short-term leases, providing a combination of stability and flexibility. All tenants have occupied the location for five to thirteen years. The property has a 7.1% cap rate and a stable, pandemic-resistant tenant base. Gem and Creo manufacture and wholesale their products onsite, diversifying their income streams, while WOB uses their showroom by appointment only and subleases space to an architect. The lower floor is occupied by contractors and used for storage; all tenants have consistently paid rent throughout the pandemic. The property includes 2,300 square feet of creative office space available for lease, featuring high ceilings, exposed beams, skylights, and direct street access, making it suitable for an owner-occupant or a new tenant. The location benefits from high traffic counts, with over 40,000 vehicles on Broadway and an additional 23,000+ on Weidler. East/west streetcar and bus stops are located on either side of the block, and I-5 (with 134,000 cars per day) is nearby. With a Walk Score of 92 and a Bike Score of 100, the location is highly accessible for pedestrians and cyclists. The Convention Center, Moda Center, Lloyd Center, Pearl District, and Old Town are all within walking distance. Street parking is metered on Broadway and 2nd Avenue and is free north of Broadway. The property includes three parking spaces on the lower level, with the potential to open up the entire floor for additional parking.
Location Intelligence

Current Use by Public Records

Mixed-use properties

Suggested Use

Restaurant Realty agency Dental Office Hair Salon Spa & Massage Nail Salon Food Market Clothing Store Grocery Store Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Portland
County
Washington
State
Oregon
Longitude
-122.677387
Latitude
45.523873

FAQs

What type of property is this?
Mixed-use property - Mixed-use property with redevelopment potential and excellent transportation access.
Where is this mixed-use property located?
The property is located at 122-140 NE Broadway Portland, OR.
What are key features of this property?
This property features: - Excellent location with outstanding car, streetcar, bus, bike, and pedestrian accessibility; **Walk Score of 92 and Bike Score of 100.**; - Opportunity Zone location offers potential tax advantages.; - **High 7.1% cap rate** and stable, pandemic-resistant tenant base.
More about this property
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