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Property profile & analytics
OFF-MARKET Estimated value $2,585,000
Retail space

24 2nd Ave 32 Portland, OR 97209-3983

11,400 SF 0.13 ac lot Built 1904
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US71-0886977
Property summary
AI-generated overview

The Captain Couch Building, a historic Portland landmark at 24 NW 2nd Ave, offers a unique opportunity for businesses seeking creative or traditional office space in the vibrant Old Town neighborhood. Built in 1904 and renovated in 1977, this two-story building comprises one structure with six total suites, ranging from 341 to 3,479 square feet. Currently, seven spaces are available for lease, providing flexibility for businesses of various sizes. The building's location in Multnomah County, Oregon (zip code 97209), offers unparalleled accessibility. Situated adjacent to the Burnside Bridge, it benefits from proximity to twelve bus lines and four streetcar lines, ensuring convenient public transportation. Furthermore, ample parking options are available nearby, catering to both employees and clients. The surrounding area boasts a thriving mix of restaurants, bars, and entertainment venues, enhancing the overall appeal and convenience for tenants. The presence of established businesses such as the University of Oregon, Oregon College of Oriental Medicine, and Ankrom Moisan, further underscores the area's growing appeal and potential for business success. This property presents a rare chance to establish a presence in a highly desirable and well-connected location within Portland's dynamic Old Town.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1904
Total area 11,400 SF
Lot 0.13 ac (5,700 SF)
Zoning code CXD
APN 1N1E34CA 09000
UPID US71-0886977
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
  • Aravo Solutions (Bike/Boat/Book/etc) Store Corporate Office
  • The Suite Spot PDX Hotel & Motel Resort
  • PDX Suite Spot Hotel & Motel Resort
  • Bader Management Solutions Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.58M
Blend (final) Blend
$2.59M
Owner & transaction history
Portland Ot Captain Couch Owner LLC · 2 yrs held
Portland Ot Captain Couch Owner LLC
since 2023
7 recorded transactions
2023
Price N/A
2018
Price N/A
2017
$3.7M
2015
$12.2M
2014
$8.0M
2009
Price N/A
1969
Price N/A
Zoning & alternative use
CXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $3.9M +14.1%
Commercial (general) $3.8M +10.8%
Auto repair, garage $3.5M +1.7%
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