1536 23Rd AvePortland, OR 97210

Property Details for 1536 23Rd Ave

Year built

1908

Lot size

0.09 AC

Property size (Sq ft)

2,280 SF

Zone code

CS

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

1N1E28CC 14900

APU

1N1E28CC14900

Description

This exceptional property, located at 1536 NW 23rd Ave in Portland's desirable Slabtown neighborhood, offers a unique opportunity for retail or office tenants. The building, constructed in 1908, features a total of 3,992 square feet across three stories and comprises four suites. Currently, 1,734 square feet are available for lease, encompassing two distinct spaces: a 650 square foot suite and a 1,084 square foot suite. The second-floor suite includes five rooms and one restroom, while the third-floor space offers one room with additional storage. Both spaces boast beautiful hardwood floors and abundant natural light from large windows. The building enjoys a highly visible corner location at the intersection of NW 23rd Ave and NW Raleigh Street, benefiting from a high average daily traffic count of approximately 111,000 vehicles on NW 23rd Ave. Its strategic position places it at the north end of the vibrant NW 23rd retail district and the west end of the growing Slabtown area. The property is conveniently located one minute from Highway 30 and I-405 on/off ramps, with TriMet bus stops directly in front. This prime location offers easy access to a wealth of amenities, including nearby businesses such as Portland Running Co, Bull Run Distillery, and numerous restaurants and retailers. The property is zoned CM2 (Commercial Mixed Use 2) and includes two parking spaces. Virtual tours are available for both the second and third-floor spaces. This is an ideal opportunity for small businesses seeking a high-visibility location in a thriving Portland neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $626,225

  6.5%

  $578,054

  7%

  $536,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $439,082

  Geo Method

  $439,082

• Alternative Use

  Use

  Valuation

  Residential

  $716,787

  Hospitality

  $656,573

  Educational

  $546,261

  Medical

  $565,047

  Retail

  $849,739

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5339

Longitude

-122.699

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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