200 20Th AvePortland, OR 97232

For Sale
$2,450,000

Mid-Century Modern Office Building, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional mixed-use investment opportunity, the LorLin Building, presents a compelling proposition for discerning buyers. Built in 1965 and boasting a distinctive Mid-Century Modern design, this three-story, 8,543 square foot building is situated on a 0.34-acre lot in Portland's dynamic Lloyd District. Currently operating at 68% occupancy, the property offers immediate income potential with Suite 200 available for lease. The building features 23 on-site parking spaces, a significant advantage in this vibrant, walkable neighborhood. Recent capital improvements include a new roof with a 20-year warranty, minimizing future maintenance expenses. Planned exterior repainting will further enhance curb appeal and attract new tenants. Zoned RM3, the property offers flexibility for a variety of uses, contributing to its long-term value and potential for growth. The building's location provides excellent access to public transportation and major attractions, ensuring high foot traffic and visibility. This is a rare opportunity to acquire a well-maintained, income-producing asset in a prime Portland location, offering both immediate returns and significant long-term growth potential. The asking price is $2,450,000 ($286.78/sq ft). The Multnomah County APN is R125113.

Highlights

  • RM-3 zoning allows for diverse commercial uses and includes ample on-site parking.
  • Strong tenant mix ensures high occupancy and long-term stability.
  • Vacant Suite 200 offers a move-in ready space ideal for various businesses.
  • Excellent investment opportunity with high income potential, low capital expenditures, and a desirable location.

Property Details for 200 20Th Ave

Property type
Other office properties, Office space
Square Feet
8,543 SF
Year Built
1965
Buildings
1
Stories
3
Lot Size (sq. ft)
14,810 SF

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5247773
Longitude
-122.6451235
200 20Th Ave, Portland, Oregon

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200 20Th Ave
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