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Property profile & analytics
OFF-MARKET Estimated value $555,000
Warehouses

1835 3rd Ave Portland, OR 97212-3935

3,600 SF 0.08 ac lot Built 1948
Entity Owned 16-yr Hold Absentee Owner Free & Clear
Property ID
US71-0906206
Property summary
AI-generated overview

This ±40,000 square foot industrial warehouse, located in Portland's desirable Close-In SE submarket at 1835 SE 3rd Ave, offers a unique investment opportunity. The property features approximately 35,900 square feet of vacant space, spread across a two-story building constructed in 1948. The ground floor warehouse comprises roughly 31,700 square feet, boasting a 16.5-foot clear height, 24' center-only columns, wet sprinklers, and approximately 400 amp 3-phase power. Loading is facilitated by three double-wide dock-high doors and a grade-level loading ramp. The building also includes five loading docks and one drive-in door. The upper floor offers approximately 4,200 square feet of adaptable office space, ready for a build-to-suit design, and includes a restroom and storage. The property sits on a 0.47 FAR lot and includes 10 total parking spaces. Its location offers excellent access to public transportation (Tri-Met bus and streetcar), and is conveniently located approximately 0.6 miles from I-5 freeway access. The surrounding area provides numerous amenities, including restaurants, retail, and hotels. The property is zoned IG1 (General Industrial 1) within Multnomah County. This is an exceptional opportunity to acquire a well-located warehouse with significant potential in a thriving Portland submarket.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1948
Total area 3,600 SF
Lot 0.08 ac (3,600 SF)
Zoning code EXD
APN 1N1E27DD 05700
UPID US71-0906206
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
  • Riggio Ukulele (Bike/Boat/Book/etc) Store
  • Artisan Woodworking & Design General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$555k
Blend (final) Blend
$555k
Owner & transaction history
Spears Hancock LLC · 16 yrs held
Spears Hancock LLC
since 2010
1 recorded transaction
2010
Price N/A
Zoning & alternative use
EXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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