8028 Stark StPortland, OR 97215

This exceptional investment opportunity presents two parcels totaling 10,000 square feet in Portland's vibrant Montavilla neighborhood. The property comprises a 5,000 square foot building at 8028 SE Stark St, currently vacant, suitable for adaptive reuse as retail, office, or light industrial space. Its open layout with a single column row offers flexible configuration possibilities. The building's CM2 zoning allows for diverse uses, including potential multifamily expansion. A second parcel, 8025 SE Washington St, adds 5,000 square feet, including a 700+ square foot house and covered outdoor spa area. This combined property offers significant upside potential. Built in 1941, the main building provides a strong foundation for redevelopment or immediate occupancy. The asking price is $1,475,000, representing a compelling $147.50 per square foot and an 8.50% cap rate (pro-forma 8.77%). The property boasts a current NOI of $125,371, projected to increase to $129,361. Conveniently located near mass transit, free street parking, Highway 213, and I-205, this property offers a rare blend of location, flexibility, and high return potential. The 0.23-acre lot size provides ample space for future development. This is an ideal opportunity for investors seeking a strong cash flow and significant long-term appreciation.