Westmoreland Commercial Condo For
1540 SE Martins, Portland, OR 97202
- Added:
- Nov 25, 2025
- Days on Market:
- 177
- Last Refresh:
- Apr 5 at 10:11 pm
Property Features for 1540 SE Martins
General Information
- Standard status
- Active
- Property subtype
- Retail
Building Details
- Year Built
- 2008
Listing agent Dann Wonser License ##940700089 (503) 358-4704
Listing office Macadam Forbes (503) 358-4704
Listing date Nov 25, 2025
Source Macadamforbes
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Macadam Forbes
HighLights
- Strong, recession‑tested tenant (Cadence Academy/Creative Minds) with 10 years remaining on the lease and 3% annual rent increases.
- Prime location in the highly desirable Westmoreland neighborhood with high visibility (14,636 cars per day), high median household income ($80,562), and excellent walkability (Walk Score 86) and bikeability (Bike Score 99).
- Condominium structure simplifies property management; HOA handles building insurance, exterior maintenance, water/sewer, and garbage.
- Easily divisible 4,239 SF space into four independent spaces with separate storefronts and HVAC.
- High‑quality construction with premium materials: TPO roof, Canadian Tight Knot Cedar siding, Anderson 400 series windows and patio doors.
- HVAC systems serviced quarterly by Jacobs Heating since 2009.
Overview
This commercial condominium is located on Milwaukie Avenue in the Westmoreland neighborhood. The property is occupied by Cadence Academy, owner of Creative Minds, since January 2009. The tenant has ten years remaining on the current lease term, with 3% annual rent increases. Cadence Academy has 240 locations nationally and seven in the Portland area. The property is located in an area with traffic visibility of 14,636 cars per day and a median household income of $80,562. The location has a Walk Score of 86, a Bike Score of 99, and two bus lines within a five minute walk. The current 4,239 square foot space can easily be divisible into four independent spaces with separate storefronts and HVAC. The property is a condominium structure, with normal property management duties managed by the HOA. HOA dues include building insurance, exterior maintenance, water/sewer, and garbage. The roof is a TPO roof originally installed in 2009 and inspected in 2019. The exterior siding is Canadian Tight Knot Cedar, with a complete exterior restoration in 2019 that included new caulking and two coats of Benjamin Moore paint. The HVAC systems have been serviced every quarter by Jacobs Heating since 2009. The windows and patio doors are Anderson 400 series. Cadence Academy is licensed for up to 87 children.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Day care centers
Similar Places Nearby
- Roots and Wings Portland Preschool — 1814 SE Bybee Blvd, Portland, OR 97202
- Treehouse Playschool — 6032 SE Milwaukie Ave, Portland, OR 97202
- Cadence Academy Preschool — 6109 SE Milwaukie Ave, Portland, OR 97202
- Hancock Haven Child Care — 7648 SE Milwaukie Ave #6115, Portland, OR 97202
- Little Village Montessori Child Development Center — 7126 SE Milwaukie Ave, Portland, OR 97202
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.65
- Latitude
- 45.4784
Nearby Similar for Sale
FAQs
What type of property is this?
Day care center - Commercial condominium occupied by Cadence Academy with long-term lease.
Where is this day care center located?
The property is located at 1540 SE Martins Portland, OR.
What are key features of this property?
This property features: Strong, recession‑tested tenant (Cadence Academy/Creative Minds) with 10 years remaining on the lease and 3% annual rent increases.; Prime location in the highly desirable Westmoreland neighborhood with high visibility (14,636 cars per day), high median household income ($80,562), and excellent walkability (Walk Score 86) and bikeability (Bike Score 99).; Condominium structure simplifies property management; HOA handles building insurance, exterior maintenance, water/sewer, and garbage.
