125 4th Ave Portland, OR 97209

This exceptional 40,000 square foot commercial land parcel, located in the heart of Portland's Old Town Chinatown at 125 NW 4th Ave, presents a compelling investment opportunity. Currently operating as a professionally managed parking lot generating substantial income, the property boasts a 2024 budgeted NOI of $500,000 and a pro forma stabilized NOI of $700,000, reflecting a 6.36% cap rate. The site benefits from CX zoning, allowing for diverse development options including retail, office, multifamily, or mixed-use projects, with a generous floor area ratio (FAR) up to 15:1. Recently upzoned to a height limit of 125-200 feet, this property offers significant upside potential. Its prime location provides easy access to major transportation arteries like I-5 and various bridges, and is within walking distance of Portland's Waterfront Park, numerous hotels, cultural attractions (including the Saturday Market and Lan Su Chinese Garden), and a vibrant array of dining and entertainment venues. The property's location within an Opportunity Zone further enhances its investment appeal. Historical NOI was $853,000 in 2019, and current parking revenue is increasing as tourism returns to pre-pandemic levels. This is a rare chance to acquire a full city block in a thriving, high-demand area.