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    FOR SALE
    Warehouses

    232 NE 9Th Ave, Portland, OR 97232

    8,840 SF 0.19 ac lot Built 1950
    Individually Owned 23-yr Hold ~ Est. High Equity
    Property ID
    US71-1908143
    Property summary
    AI-generated overview

    This 16,000 square foot, two-story office building, located at 232 NE 9th Ave in Portland, Oregon, offers a unique opportunity for businesses seeking flexible space in a vibrant urban setting. Currently, 3,100 square feet of vacant space is available on the second floor, easily divisible into smaller units with a minimum of 3,100 square feet. The building, constructed in 1950 and classified as Class C, features two loading docks, one drive-in door, and four total parking spaces. The zoning is IG1 (General Industrial 1) - City of Portland. The available space boasts a thoughtful layout including four private offices, multiple conference rooms, ample storage, and restrooms. Large windows provide abundant natural light. This corner lot location in the Buckman/Kerns area of Close-In NE Portland offers excellent visibility and accessibility. The property is conveniently situated near the Oregon Convention Center, Moda Center, Lloyd Center Mall, and a variety of restaurants and coffee shops. Public transportation options, including the Tri-Met Streetcar, MAX line, and bus stops, are within a short distance, as is the I-84 eastbound on-ramp. This property is ideal for businesses seeking a blend of functionality, accessibility, and a desirable location within a thriving commercial hub. The building's features cater to a variety of business needs, from traditional office space to flexible and R&D uses.

    Property profile
    Verified
    Property type Warehouses
    Use group WAREHOUSE, STORAGE
    Year built 1950
    Total area 8,840 SF
    Lot 0.19 ac (8,333 SF)
    Zoning code IG1
    APN 1N1E35CA 01900
    UPID US71-1908143
    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
    • Bowl Pac Medical Clinic
    • PACIFIC CLEAN AIR SOLUTIONS LLC Physician
    • Studio of the Woodland Realm Recording Studio
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.09M
    Blend (final) Blend
    $2.10M
    Owner & transaction history
    David B Hummon · 23 yrs held
    David B Hummon
    since 2002
    4 recorded transactions
    2002
    $775,000
    1969
    1969
    1969
    Zoning & alternative use
    IG1 · Portland, OR
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $3.0M +67.8%
    Commercial (general) $2.9M +58.3%
    Auto repair, garage $2.7M +49.6%
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    More about this property
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