221-227 Pine StPortland, OR 97204

Property Details for 221-227 Pine St

Year built

1898

Lot size

0.11 AC

Property size (Sq ft)

12,028 SF

Property type

Office properties

Property subtype

Office space

Description

This three-story, 12,028-square-foot office building, constructed in 1898 and seismically upgraded in 1980, presents a unique acquisition opportunity in Portland, Oregon. Located at 221-227 SW Pine St, in the CX (Central Commercial) zone, this property sits on a 0.11-acre lot (APN R246038) and offers a blend of historical charm and modern functionality. Currently housing nine tenants across multiple units, the building boasts 32% occupancy. The ground floor features a successful, established restaurant tenant generating existing cash flow, complemented by a vacant, turnkey restaurant/bar space ready for immediate lease. The upper floors provide move-in-ready creative office spaces, with two tenants currently leasing over 1,800 square feet on month-to-month agreements. This offers flexibility for owner-users to implement various investment strategies, including restructuring leases for long-term revenue generation. The asking price is $1,295,000 ($107.67/sq ft), and attractive seller financing is available with negotiable terms. The building's prime location in downtown Portland ensures favorable access to public transportation and amenities. This presents a compelling opportunity for owner-users seeking a prominent presence in Portland's central business district.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5216

Longitude

-122.673

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