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    126 2Nd Ave Portland, OR 97204

    Sponsored
    For Sale
    $6,800,000

    Historic building, prime location, high potential.

    Property size:
    28,898 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 126 SW 2nd Ave in Portland, Oregon's desirable Multnomah County (zip code 97204), presents a compelling investment opportunity. The 28,898 square foot building, originally constructed in 1886 and extensively renovated in 2016, boasts a unique blend of retail and office space. The ground floor features an award-winning food hall, while the upper two floors offer move-in-ready creative office space. The 2016 renovation included a complete seismic upgrade, updated mechanical, electrical, and plumbing systems, a new roof, modern restroom and shower facilities, and secure bike parking. The building's historical character is preserved through exposed timber framing, high ceilings, authentic Douglas Fir beams, and a large skylight that floods the office space with natural light. Currently at 30% occupancy, this property offers significant lease-up potential and presents an attractive option for both investors and owner-users seeking a unique, high-quality asset in a vibrant urban setting. The 0.46-acre lot houses a three-story building, offering a total of 28,898 square feet of net rentable space. This value-add investment is priced at $6,800,000. The property's central location provides favorable access to numerous amenities and is easily walkable.

    Property Features for 126 2Nd Ave

    General Information

    Property type
    Restaurants
    Square Feet
    28,898 SF
    Lot Size
    20,038 SF

    Building Details

    Year Built/Renovated
    1886/2016
    Buildings
    1
    Stories
    3

    HighLights

    • Optionality for investors, owner‑users, and tenants.
    • Recently renovated with excellent amenities, including a seismic upgrade, updated MEP systems, new roof, and modern restrooms/showers.
    • Award‑winning food hall and creative office space with exposed timber framing, high ceilings, and abundant natural light.
    • Prime central location in Portland, OR (97204) with walkable amenities.
    • Favorable access to numerous amenities and easily walkable.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pine Street Market Restaurant Little Thai Peacock Thai Restaurant Teote Outpost Restaurant La Carreta Pura ... Latin American Restaurant Pine Street Taproom Bar

    Suggested Use

    Realty agency Dental Office Spa & Massage Restaurant Hair Salon Nail Salon Building Supply Pharmacy Daycare Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.6724069
    Latitude
    45.5215004

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    FAQs

    What type of property is this?
    Restaurant - Historic building, prime location, high potential.
    Where is this restaurant located?
    The property is located at 126 2Nd Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $6,800,000.
    What are key features of this property?
    This property features: Optionality for investors, owner-users, and tenants.; Recently renovated with excellent amenities, including a seismic upgrade, updated MEP systems, new roof, and modern restrooms/showers.; Award-winning food hall and creative office space with exposed timber framing, high ceilings, and abundant natural light.
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    126 2Nd Ave Portland, OR 97204
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    Portland, OR 97204
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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
    126 2Nd Ave Portland, OR 97204
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