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    FOR SALE
    Commercial real estate

    1800 SE Water Ave, Portland, OR 97214

    1.18 ac lot
    Entity Owned
    Property ID
    US71-0708104
    Property summary
    AI-generated overview

    This exceptional 1.18-acre development opportunity in Portland, Oregon, presents a unique investment prospect. Located at 1800 SE Water Ave, in Multnomah County (zip code 97214), the property boasts 330 feet of frontage along SE Water Avenue, offering unparalleled visibility. The site is zoned EX - Central Employment (APN R238700), allowing for a wide range of development possibilities. Three existing buildings totaling 14,172 square feet are currently on the site, adding to the potential. The maximum floor area ratio (FAR) is 2:1, providing significant buildable space. This location offers exceptional access to public transportation, being within walking distance of the Portland Streetcar. Enjoy stunning views of the Portland waterfront and downtown skyline, while also benefiting from the proximity to local parks, restaurants, and retail establishments. Furthermore, this property is situated within an Opportunity Zone, presenting additional investment incentives. The total available space, including the existing buildings, is 51,252 square feet. Contact us for pricing information.

    Property profile
    Verified
    Property type Commercial real estate
    Lot 1.18 ac (51,401 SF)
    APN R238700
    UPID US71-0708104
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • NELLANS Vega Ballet Theater & Performing Art Venue Vocational School
    • Village Home Educ Resource Center Training Center
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    City Of Portland
    City Of Portland
    since 2025
    1 recorded transaction
    2025
    $6.9M
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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