8028 Stark StPortland, OR 97215

Property Details for 8028 Stark St

Year built

1941

Lot size

0.11 AC

Property size (Sq ft)

5,000 SF

Zone code

CS

Property type

Retail space

APN

1S2E05AA 00900

APU

1S2E05AA00900

Description

This exceptional investment opportunity presents two parcels totaling 10,000 square feet in Portland's vibrant Montavilla neighborhood. The property comprises a 5,000 square foot building at 8028 SE Stark St, currently vacant, suitable for adaptive reuse as retail, office, or light industrial space. Its open layout with a single column row offers flexible configuration possibilities. The building's CM2 zoning allows for diverse uses, including potential multifamily expansion. A second parcel, 8025 SE Washington St, adds 5,000 square feet, including a 700+ square foot house and covered outdoor spa area. This combined property offers significant upside potential. Built in 1941, the main building provides a strong foundation for redevelopment or immediate occupancy. The asking price is $1,475,000, representing a compelling $147.50 per square foot and an 8.50% cap rate (pro-forma 8.77%). The property boasts a current NOI of $125,371, projected to increase to $129,361. Conveniently located near mass transit, free street parking, Highway 213, and I-205, this property offers a rare blend of location, flexibility, and high return potential. The 0.23-acre lot size provides ample space for future development. This is an ideal opportunity for investors seeking a strong cash flow and significant long-term appreciation.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5189

Longitude

-122.581

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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