221-227 Pine St Portland, OR 97204
- Office Properties & Spaces
- 12,028 SF
- 0.11 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 221-227 Pine St
- Year built
- 1898
- Lot size
- 0.11 lot acres
- Property size
- 12,028 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Office space
Description
This three-story, 12,028-square-foot office building, constructed in 1898 and seismically upgraded in 1980, presents a unique acquisition opportunity in Portland, Oregon. Located at 221-227 SW Pine St, in the CX (Central Commercial) zone, this property sits on a 0.11-acre lot (APN R246038) and offers a blend of historical charm and modern functionality. Currently housing nine tenants across multiple units, the building boasts 32% occupancy. The ground floor features a successful, established restaurant tenant generating existing cash flow, complemented by a vacant, turnkey restaurant/bar space ready for immediate lease. The upper floors provide move-in-ready creative office spaces, with two tenants currently leasing over 1,800 square feet on month-to-month agreements. This offers flexibility for owner-users to implement various investment strategies, including restructuring leases for long-term revenue generation. The asking price is $1,295,000 ($107.67/sq ft), and attractive seller financing is available with negotiable terms. The building's prime location in downtown Portland ensures favorable access to public transportation and amenities. This presents a compelling opportunity for owner-users seeking a prominent presence in Portland's central business district.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.673
- Latitude
- 45.5216
