3384 Milwaukie Ave Portland, OR 97202-1775
- Retail space
- 5,150 SF
- 0.12 lot acres
Current Use by Public Records
- Jati Teak / Furniture & Home Goods / Home Decor Store
Property Details for 3384 Milwaukie Ave
- Year built
- 1911
- Lot size
- 0.12 lot acres
- Property size
- 5,150 SF
- Zone code
- CS
- Property type
- Retail space
- APN
- 1S1E11BD 09100
- APU
- 1S1E11BD09100
Description
This prominent Portland retail building, located at 3384 SE Milwaukie Ave in the trendy Brooklyn neighborhood, presents a unique investment opportunity. Boasting 4,800 square feet of main floor retail space and an additional 3,900 square feet in the lower level (900 sq ft retail, 3000 sq ft storage), this property offers exceptional versatility. Renovated in 2007, it features attractive open beam 24' ceilings with skylights, creating a bright and inviting atmosphere. The main floor includes two ADA-compliant bathrooms. A 5-foot-wide stairway provides access to the lower level, which is clean and dry, ideal for storage or production. The building benefits from high visibility on Milwaukie Ave, with large windows and a roll-up door for rear access, allowing for potential dual tenancy with minor buildout. Its CM2 zoning permits a variety of commercial uses. Situated across from Brooklyn Park, it enjoys excellent foot traffic and proximity to major transportation routes, including the Ross Island Bridge. The surrounding area includes numerous amenities such as coffee shops and restaurants, contributing to a vibrant and dynamic environment. The asking price is $2,000,000, with a 4.90% cap rate and 100% occupancy. Built in 1911, this property is ideally suited for an owner-user seeking additional leasable space or an investor looking for a strong return in a desirable location near affluent neighborhoods like Ladd's Addition and Eastmoreland/Sellwood. This is a rare chance to acquire a well-positioned, versatile retail space in a thriving Portland neighborhood.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,768,000
- AI Estimate
- $1,768,000
Market price range: $1.18M - $2.15MMarket price range: $1.18M - $2.15M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,720,000 Current use
- RESTAURANT
- $1,765,000 Change: +3% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,575,000 Change: -9% Conversion: Difficult
- MEDICAL BUILDING
- $1,555,000 Change: -10% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,500,000 Change: -13% Conversion: Easy
- OFFICE BUILDING
- $1,490,000 Change: -13% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $1,485,000 Change: -14% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.654
- Latitude
- 45.4985
- CBSA code
- 38900
- CBSA name
- PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
