Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Portland Development Opportunity Title is generated by Realmo AI

    969 SW 2nd Ave, Portland, OR 97204

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Highly visible downtown Portland parcel with development potential.

    Type:Land
    Added:
    Mar 20, 2026
    Days on Market:
    55
    Last Refresh:
    Mar 21 at 8:50 pm

    Property Features for 969 SW 2nd Ave

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Bradley King

    Listing agent Bradley King License #OR 201235429

    Listing office KW Commercial Portland Premiere

    Listing date Mar 20, 2026

    Source Crexi

    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 KW Commercial Portland Premiere

    HighLights

    • Prime downtown Portland location with high visibility and foot traffic.
    • Permitting process nearly complete for a food cart pod development.
    • Existing cash flow from current surface parking operation.
    • Flexibility for various development options beyond the food cart pod.
    • Located in the heart of the city next to the Court House and walking distance to the river front.
    • Strong surrounding daytime and evening pedestrian activity.

    Overview

    This downtown Portland parcel, currently operating as an income-generating surface parking lot, presents an exceptional acquisition opportunity. Situated in the heart of the city on SW 2nd Ave, the site benefits from outstanding foot traffic, accessibility, and urban exposure. The current owner is nearing completion of the permitting process to develop the unused side of the parcel into a food cart pod, a popular and profitable commercial format in Portland. Food cart pods have become a cornerstone of Portland's culinary culture, attracting consistent local and tourist traffic. Located in the center of Downtown Portland next to the Court House and within walking distance of the river front, the property experiences strong surrounding daytime and evening pedestrian activity. Conceptual plans exist for a food cart pod. The parcel's flexibility allows for various development directions for the right buyer or investor. This downtown location offers rare flexibility in one of Oregon's most dynamic urban markets, whether executing the food cart pod vision or exploring alternative development possibilities. The property is located in prime SW Portland and has high visibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Law Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6758219
    Latitude
    45.5162765

    Nearby Similar for Sale

    • $759,000
      3,881 SF

      Two Independent Homes on Oversized Lot

      Two homes, each with yard, porch, and in-unit laundry.
      4310 SE 52ND Ave, Portland, OR 97206
      View Details
    • $849,900
      3,207 SF

      Portland Triplex in Clinton-Division Neighborhood

      Fully leased triplex in a desirable, walkable Portland location.
      2735 SE CLINTON St, Portland, OR 97202
      View Details
    • $3,229,900
      6,782 SF

      Southwest Portland Cottage Cluster Opportunity

      Newly built detached homes near Gabriel Park and Multnomah Village.
      3614 SW Vermont St, Portland, OR 97219
      View Details
    • $899,900
      3,438 SF

      Classic Irvington Duplex

      Classic duplex with income potential in historic Irvington neighborhood.
      1917 1919 NE 10TH Ave NE, Portland, OR 97212
      View Details
    • $680,000
      2,544 SF

      Portland Triplex in Prime Location

      Three-unit property near Ladd Circle Park, ideal for investment.
      1903 SE 12TH Ave, Portland, OR 97214
      View Details
    • $669,950
      3,012 SF

      Portland Duplex with Value-Add Potential

      Investor-ready duplex with below-market rents and long-term tenants.
      503 SE 157TH Ave, Portland, OR 97233
      View Details
    • $924,000
      3,182 SF

      Updated Home with ADU Income

      Updated home with ADU in walkable Johns Landing neighborhood.
      5816 S CORBETT Ave, Portland, OR 97239
      View Details
    • $649,900
      3,100 SF

      Rockwood Triplex Investment Opportunity

      Well-maintained triplex in Rockwood with strong rental potential.
      18220 SE PINE St, Portland, OR 97233
      View Details
    • $659,950
      3,064 SF

      Portland Duplex with Value-Add Potential

      Investor-ready duplex with below-market rents and long-term tenants.
      15650 SE STARK St, Portland, OR 97233
      View Details
    • $549,900
      1,740 SF

      Tigard Duplex: Value-Add Opportunity

      Duplex in Tigard with renovation potential and income generation.
      9465 SW TANGELA Ct, Portland, OR 97223
      View Details
    • $695,000
      3,406 SF

      Charming Fourplex in Buckman Neighborhood

      Vintage fourplex in Southeast Portland's desirable Buckman neighborhood.
      942 SE 16th Ave, Portland, OR 97214
      View Details
    • $749,900
      3,161 SF

      Remodeled Multifamily Property with Potential

      Updated duplex with large units, basements, and ADU potential.
      3921 SE BOISE St, Portland, OR 97202
      View Details

    FAQs

    What type of property is this?
    Commercial land - Highly visible downtown Portland parcel with development potential.
    Where is this commercial land located?
    The property is located at 969 SW 2nd Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: Prime downtown Portland location with high visibility and foot traffic.; Permitting process nearly complete for a food cart pod development.; Existing cash flow from current surface parking operation.
    (503) 313-8262 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bradley King
    Real Estate License ID: OR 201235429
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    969 SW 2nd Ave, Portland, OR 97204
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!