555 12Th AvePortland, OR 97209

Property Details for 555 12Th Ave

Year built

1941

Lot size

0.23 AC

Property size (Sq ft)

10,000 SF

Zone code

EXD

Property type

Retail properties

Property subtype

Turn key restaurants

APN

1N1E33AD 03800

APU

1N1E33AD03800

Description

This exceptional 10,000 square foot retail and restaurant property is located at 555 NW 12th Ave in Portland, Oregon's vibrant Pearl District. Situated on a 0.23-acre lot in Multnomah County (zip code 97209), this single-tenancy building presents a compelling investment opportunity for owner-users or developers. The property boasts a Central Employment (EX) zoning designation, offering significant flexibility. A 6:1 floor area ratio (FAR) is in place, with potential for a 9:1 FAR through bonuses. The current owner holds an open permit for a restaurant, bar, and event venue, streamlining the path to immediate operation or redevelopment. The location is highly desirable, benefiting from abundant street parking and a thriving neighborhood filled with award-winning restaurants, bars, high-density housing, and offices, all within a walkable urban setting. This prime location ensures high foot traffic and visibility, making it an ideal space for a variety of businesses. The property's size and zoning provide ample room for expansion or adaptation to suit a wide range of commercial ventures. This is a rare chance to acquire a significant asset in one of Portland's most sought-after neighborhoods. Lease rate and term details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $4,037,502

  6.5%

  $3,726,925

  7%

  $3,460,716

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,853,016

  Geo Method

  $4,853,016

• Alternative Use

  Use

  Valuation

  Residential

  $3,143,800

  Hospitality

  $2,879,704

  Educational

  $2,395,880

  Medical

  $2,478,278

  Retail

  $3,726,925

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.527

Longitude

-122.684

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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