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    1211-1223 Martin Luther King Jr Blvd Portland, OR 97232

    Sponsored
    For Lease
    Contact for pricing

    Prime Portland retail, restaurant opportunity. Multiple suites available.

    Lot size:
    4,270 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Merrick Building, located at 1211-1223 NE Martin Luther King Jr Blvd in Portland, Oregon (97232), presents a unique mixed-use investment opportunity. This six-story building offers a total of 4,270 square feet of retail and restaurant space, currently entirely vacant and available for lease. The building is comprised of three individual suites, offering flexibility for various business needs. Individual suite sizes range from a minimum of 1,317 square feet to a maximum contiguous space of 1,556 square feet. The building's location in Multnomah County provides excellent access to a vibrant and growing market. This is an exceptional chance to establish a presence in a bustling Portland neighborhood. The property's mixed-use zoning allows for a variety of potential tenants, creating a diverse and potentially lucrative investment. The entire 4,270 square feet is available for lease, presenting a rare opportunity to secure a significant footprint in a desirable location. Interested parties are encouraged to inquire for further details and leasing options.

    Property Features for 1211-1223 Martin Luther King Jr Blvd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,270 SF

    Building Details

    Stories
    6

    Unit(s) available at that property

    Space
    Available Space 3
    Size
    1,556 SF
    Space
    Space Available 1
    Size
    1,397 SF
    Space
    Available Space 2
    Size
    1,317 SF

    HighLights

    • Six‑story mixed‑use building with 185 market‑rate apartments over ground‑floor retail.
    • Excellent Hwy 99E/NE MLK Jr Blvd location, directly on the Portland Streetcar Line.
    • Two blocks from the Convention Center and MAX Light Rail.
    • Strong location within the revitalizing Lloyd District, proximate to new developments including Block A Apartments (179 units) and Hassalo on Eight (657 units), and the $50 million Lloyd Center mall remodel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.6619102
    Latitude
    45.5318035

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    FAQs

    What type of property is this?
    Restaurant - Prime Portland retail, restaurant opportunity. Multiple suites available.
    Where is this restaurant located?
    The property is located at 1211-1223 Martin Luther King Jr Blvd Portland, OR.
    What are key features of this property?
    This property features: Six-story mixed-use building with 185 market-rate apartments over ground-floor retail.; Excellent Hwy 99E/NE MLK Jr Blvd location, directly on the Portland Streetcar Line.; Two blocks from the Convention Center and MAX Light Rail.
    Request Owner's contact information
    1211-1223 Martin Luther King Jr Blvd Portland, OR 97232
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1211-1223 Martin Luther King Jr Blvd Portland, OR 97232
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