126 2Nd AvePortland, OR 97204

For Sale
$6,800,000

Historic building, prime location, high potential.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional mixed-use property, located at 126 SW 2nd Ave in Portland, Oregon's desirable Multnomah County (zip code 97204), presents a compelling investment opportunity. The 28,898 square foot building, originally constructed in 1886 and extensively renovated in 2016, boasts a unique blend of retail and office space. The ground floor features an award-winning food hall, while the upper two floors offer move-in-ready creative office space. The 2016 renovation included a complete seismic upgrade, updated mechanical, electrical, and plumbing systems, a new roof, modern restroom and shower facilities, and secure bike parking. The building's historical character is preserved through exposed timber framing, high ceilings, authentic Douglas Fir beams, and a large skylight that floods the office space with natural light. Currently at 30% occupancy, this property offers significant lease-up potential and presents an attractive option for both investors and owner-users seeking a unique, high-quality asset in a vibrant urban setting. The 0.46-acre lot houses a three-story building, offering a total of 28,898 square feet of net rentable space. This value-add investment is priced at $6,800,000. The property's central location provides favorable access to numerous amenities and is easily walkable.

Highlights

  • Optionality for investors, owner-users, and tenants.
  • Recently renovated with excellent amenities, including a seismic upgrade, updated MEP systems, new roof, and modern restrooms/showers.
  • Award-winning food hall and creative office space with exposed timber framing, high ceilings, and abundant natural light.
  • Prime central location in Portland, OR (97204) with walkable amenities.
  • Favorable access to numerous amenities and easily walkable.

Property Details for 126 2Nd Ave

Property type
Other retail properties, Restaurants
Square Feet
28,898 SF
Year Built/Renovated
1886/2016
Buildings
1
Stories
3
Lot Size (sq. ft)
20,038 SF

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5215004
Longitude
-122.6724069
126 2Nd Ave, Portland, Oregon

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126 2Nd Ave
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