126 2Nd Ave Portland, OR 97204

Property Details for 126 2Nd Ave

Year built

1886

Lot size

0.22 lot acres

Property size

28,500 SF

Zone code

CXD

Property type

Retail space

APN

1N1E34CD 02100

APU

1N1E34CD02100

Description

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.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.672

Latitude

45.5214

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments