5145 SE McLoughlin Blvd. Portland, OR

Rare opportunity to invest in one of the most strategic locations in Portland. Just one mile south of downtown Portland, this extremely high visibility property situated along busy SE Mcloughlin (OR 99E) features 54,000 vehicles average daily traffic volume. Within one block of the site, sits the new MAX Orange Light Rail that connects Sellwood to downtown Portland.It is an ideal place for most retail uses. Currently in place is an ODA-approved kitchen. The property is also an ideal opportunity for a mixed-use development.Seller will consider 10% carryback. ABOUT THE ZONING. Currently, the land of the property consists of two different zonings: General Commercial (CG) and High-Density Residential (RH). The CG zoned portion is 14,000 square (3:1 FAR and 45' height), AND the RH zoned portion is 5000 square feet (4:1 FAR and 65' height). IN JANUARY OF 2018, THE CITY OF PORTLAND, AS PART OF PORTLAND'S 2035 COMPREHENSIVE PLAN, WILL COMBINE THE TWO ZONINGS OF THE PROPERTY INTO ONE ZONING CALLED "CE" WHICH WILL PERMIT MIXED-USE DEVELOPMENT WITH 3:1 FAR WITH BONUS AND 45' HEIGHT. THE NEW ZONING WILL RESULT IN LARGER AREA FOR STREET-LEVEL RETAIL. As a four-story mixed-use development opportunity, the zoning will allow developing approximately 19,000 square feet of street-level retail (with approximately 115 feet frontage along busy SE McLoughlin (OR 99E) and approximately 175 feet frontage along SE 18th). Comparison of Average Daily Traffic along Busiest Traffic Stretches of: SE McLoughlin (This Property): 54,000 Vehicles SE Hawthorne: 21,000 Vehicles SE Division: 13,000 Vehicles SE Milwaukie: 11,000 Vehicles
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For Sale
For Sale
Price
$2,855,000
Location
5145 SE McLoughlin Blvd.
United States
97202
Building Size
3,570Square Feet
Land Size
19,035Square Feet
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Floor Plan
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