1006 Grand AvePortland, OR 97214

This mixed-use property, the Arcoa Building, presents a compelling value-add investment opportunity in Portland, Oregon. Located at 1006 SE Grand Ave, in the desirable Central Eastside neighborhood (zip code 97214), this three-story building offers 23,688 square feet of net rentable space, currently at 52% occupancy. The asking price is $2,495,000, translating to $105.33 per square foot, with a projected cap rate of 10.24%. Built in 1907, the building features attractive facades, high ceilings, and impressive window lines, creating a strong foundation for both short-term and long-term investment strategies. The property sits on a 19,000 square foot lot, zoned Central Employment (EX) EXd, offering significant potential for future development. A covered land play exists for an approximately 61,486 square foot project. The building includes a 32-stall parking lot. The property benefits from a high-traffic, high-visibility location, within walking distance of numerous restaurants, bars, and public transportation (streetcar and two bus lines). The current tenant mix is synergistic, and there is potential for significant rent upside. The landlord retains the right to terminate a dispensary lease. This property is situated in a Portland Opportunity Zone. Near-term parking rights expirations align with potential timing requirements for new improvements. The building's historic charm and well-maintained condition, combined with the substantial development potential, make this a rare find in the Portland market.