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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.
Highlights
Significant rental upside potential (40%).
Lease termination option for existing dispensary tenant.
32-space parking lot.
61,000 SF development site with high traffic and visibility.
High-visibility location with attractive window lines and high ceilings.
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.