3384 Milwaukie AvePortland, OR 97202

Property Details for 3384 Milwaukie Ave

Year built

1911

Lot size

0.12 AC

Property size (Sq ft)

5,150 SF

Zone code

CS

Property type

Retail space

APN

1S1E11BD 09100

APU

1S1E11BD09100

Description

This prominent Portland retail building, located at 3384 SE Milwaukie Ave in the trendy Brooklyn neighborhood, presents a unique investment opportunity. Boasting 4,800 square feet of main floor retail space and an additional 3,900 square feet in the lower level (900 sq ft retail, 3000 sq ft storage), this property offers exceptional versatility. Renovated in 2007, it features attractive open beam 24' ceilings with skylights, creating a bright and inviting atmosphere. The main floor includes two ADA-compliant bathrooms. A 5-foot-wide stairway provides access to the lower level, which is clean and dry, ideal for storage or production. The building benefits from high visibility on Milwaukie Ave, with large windows and a roll-up door for rear access, allowing for potential dual tenancy with minor buildout. Its CM2 zoning permits a variety of commercial uses. Situated across from Brooklyn Park, it enjoys excellent foot traffic and proximity to major transportation routes, including the Ross Island Bridge. The surrounding area includes numerous amenities such as coffee shops and restaurants, contributing to a vibrant and dynamic environment. The asking price is $2,000,000, with a 4.90% cap rate and 100% occupancy. Built in 1911, this property is ideally suited for an owner-user seeking additional leasable space or an investor looking for a strong return in a desirable location near affluent neighborhoods like Ladd's Addition and Eastmoreland/Sellwood. This is a rare chance to acquire a well-positioned, versatile retail space in a thriving Portland neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $2,079,314

  6.5%

  $1,919,366

  7%

  $1,782,269

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,499,303

  Geo Method

  $2,499,303

• Alternative Use

  Use

  Valuation

  Residential

  $1,619,057

  Hospitality

  $1,483,048

  Educational

  $1,233,878

  Medical

  $1,276,313

  Retail

  $1,919,366

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.4985

Longitude

-122.654

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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