Category: Property Sale

US Bank Property Sells to EyeHealth Northwest

Last month, the former US Bank location on NE Glisan street sold to a prominent eye care specialist. On March 5th, a Quick Claim Deed filed with Multnomah county shows United States National Bank of Oregon sold the building, and surrounding parking lot, to EyeHealth Northwest. Located at 6701 NE Glisan Streetthe site has remained vacant since the bank permanently closed in late 2020.  

EyeHealth Northwest operates a chain of eye clinics in the Portland-Metro region. Locations offer optometric services, including eye exams and eyewear sales. This property’s proximity to Providence Medical Center makes this an ideal place for the healthcare provider.

The quick sale of the site is a good indication of NE Glisan’s continued economic growth. Nearby businesses should see an increase in foot traffic when EyeHealth Northwest opens this office.


Disclosure: EyeHealth Northwest employs a relative of the author. However, that person did not provide information about the sale.

New Plaza Owners Bet on Retail Growth

The 82nd Street Plaza building recently sold to a group of investors who see opportunity in Montavilla’s expanding downtown. Located at 322 SE 82nd Ave, this 1963 era building sits mid-block just north of Stark Street. The new owners will transform the location through building-wide upgrades that enhance the property’s appearance and functionality.

The owners of this property predict that Montavilla’s retail core is expanding towards this block, provided they create an enticing destination. “This building has a lot of potential… it just needs a facelift and a pivot in the leasing in order to pop,” explained Bob Thomas, one of the building’s owners. The investors are committed to updating the building inside and out, including the already rented spaces. All current tenants received offers to extend leases and negotiate improvement to their units. “Most of our ground-floor tenants have expressed a desire to stay,” said Thomas.

The three-story building has four ground-floor retail shops. Oregon Grown operates both a dispensary and the OG Garden Supply at either end of the building. The All Ways Warm fireplace store was the building’s previous owner and will maintain a retail space on the property. Bánh Mì Nam Lộc Deli occupies the other center spot next to All Ways Warm. The second floor is currently empty, having previously rented to a single tenant who vacated the building before its sale. The basement level has remained unused since the closing of the World Famous Cannabis Cafe in 2014.

Over the next few weeks, the building’s exterior will dramatically change. Darker paint and a cedar-siding band above the first floor will change the current color palette of the building. Crews permanently removed green awnings from the structure, and soon the building will feature a new name. The 82nd Street Plaza will become known as Annex, referencing Montavilla Town’s expansion to this section of 82nd Ave.

Work is well underway. The parking lot is clear of the extra sheds and storage containers that once cluttered the property. Painters are prepping the building for its new colors, and replacement business signs are already on order for each retail unit.

The second-floor office space was not in rentable condition due to its many alterations over the years. Previous to the external work, all interior finishes on the top floor were removed down to the framing, providing a blank canvas for future tenants. The 5,000 square-foot space is currently available for leases by a single business or divided into several suites.

The property spans five tax lots, with three of them used only for parking. Thomas explained that “there is ample parking at the property currently,” and it’s excessive for the building’s needs. Consequently, the owners are exploring the addition of a food cart pod to the property.

Investment at this level in Montavilla indicates a positive shift for the area. Substantial economic advances will take years to materialize, but this building’s facelift will provide visible proof that change is coming. Businesses interested in leasing space at this location should contact Peak Asset Management by phone or email at (503) 567-8692 and info@peakassetmgt.com.

82nd Street Plaza days before exterior work started

82nd Ave Auto Lot for Sale

An auto and van sales lot located at 1515 SE 82nd Ave is for sale. Currently, the home of Jeff Baldwin Auto Sales, the property owner is seeking $1,800,000 for the 3,908 square-foot lot. The listing includes an automotive service shop and a 1916 era home currently used as the sales office.

Listed by SVN Bluestone & Hockley, this property spans the west edge of 82nd Ave from SE Clay Street to SE Hawthorne Blvd. Existing zoning for the property would encourage another auto sales or auto-centric business.

It would be ideal for the community to see this property bought and developed into something other than an auto sales lot. Construction at this site would trigger sidewalk improvements through the 82nd Avenue Plan. It is unknown if the property sale will cause the current tenant to close or relocate.

The Clock Shop for Sale

Neighborhood watch-repair and timepiece retailer The Clock Shop is for sale. Located at 8426 SE Stark Street, both the business and building are available to purchase. The shop remains open while on the market.

The property is represented by More Realty who’s listing describes the benefit of buying both the building and business. “This 15-year-old business will be sold separately. Great opportunity for a live/work arrangement where someone can learn a trade that will last a long time. Most revenue comes from the repair of clocks. All client lists will be included. The price is negotiable.”

The structure is positioned forward on the property, creating a substantial space at the back of the lot for further development. A back alleyway to the property would provide access for a new residence behind the shop.

Dedicated specialty shops are harder to find in Portland. Having such a shop part of Stark Street attracts people to the commercial core of the neighborhood. Hopefully, a new owner will come forward and continue the legacy of this shop.

House from Split Lot for Sale

A recently renovated house at 8115 SE Yamhill Street is for sale. Demolition of the garage at this location recently facilitated a property split, creating two distinct lots. A new fence bisects the old driveway and marks the new property line.

Listed by RareBird Real Estate, images of the completed house are available on Redfin. New windows and a completely refreshed interior revitalized this 1917 house. Five bedrooms and two bathrooms in the house offer ample interior space. A well-lit and functional unfinished basement sits below the two-story home. 

Development of the new vacant lot to the west will eventually obscure the old property line. Currently, the driveway and demolished garage’s foundation stands out at this site. However, many aspects of this project are well executed. This building’s rehab respected the structure of the 100-year-old home while making it modern and energy-efficient. It should provide a comfortable space for its future owners.

Fenced driveway
Driveway before the fence

342 NE 75th Finished and Sold

The house at 342 NE 75th Ave is complete and now pending sale. This infill home started principle construction five months ago and kept to a consistent work schedule.

Promotional pictures of the completed home show white walls and countertops to match the exterior paint color. Lightly stained hardwood floors extend through the open floor-plan’s main level. Many modern and bright finishes are used throughout the house.

At 1,796 square-feet on a standard lot, the property has a sizable and open back yard. It is located close to NE Glisan Street, across from the form TBN site.

Although somewhat modern in its appearance, this house matches the street’s character. The home’s proportions are at scale with the neighboring houses, and it seems well spaced between the other buildings. Based on its quick sale and final appearance, this seems to be a successful infill project.

Historic Factory for Sale

The often-overlooked office building at 7305 NE Glisan Street is available to buy or lease. Originally constructed in 1907, many businesses have repurposed this location to serve their needs. Contrary to its appearance today, this location began as a manufacturing hub and home to early Montavilla industry.

Advertisement in the The Oregon daily journal of September 08, 1907

The Standard Broom Co. commissioned the building to house its broom factory. For five decades, they produced household brooms, and later rubber mats, from this location. Brooms manufactured in Montavilla sold to customers throughout the region. Meier and Frank repeatedly featured Standard Broom Co. brooms in advertisements promoting Oregon made products. The company experienced a great deal of success in making their product at this location.

Image from Digital Sanborn Maps Portland 1908-1909

By 1910 Standard Broom Co. expanded to other properties along east Glisan. Sometime between 1924 and 1950, the company expanded to making rubber mats in addition to brooms. Not too long after construction, the building changed addresses from 615 E Glisan to 1865 E Glisan. In the massive renumbering of Portland, the address changed again to 7315 NE Glisan. 

Image from Digital Sanborn Maps Portland 1924

As a factory, the location featured many modern advancements. Listed in Sanborn Maps for 1908-1909, the property had a night watchman, gas lights, and three fire extinguishers. A gasoline engine provided onsite power for the factory. According to the 1924 map, they had electric lights and power off the city grid. Steam provided heat for the building. Broom production remained at this location at least until 1950.

Image from Digital Sanborn Maps Portland 1950

The building is the current home to Harry L. Stearns Inc., an interior lighting, exterior lighting, and lighting controls supplier. The building is for sale with the property fully leases. However, some leasing sites reference vacancy starting in January 2021. That could point to Harry L. Stearns Inc.’s intent to move out of the facility.

The two-story building offers 7,368 square feet of office space. A small gated parking lot on the side of the building provides 16 parking spaces. Although its factory days are behind it, there are many reconfiguration opportunities with this building. Whatever new business takes over the building, this structure has proven that it can reinvent itself.

Forgotten Parking Lot

The long-unused parking lot at 7601 SE Division Street remains on the market. After selling to investors in 2015, the owner attempted several housing projects on the site. None of those seem to have moved past planning, and the property remains for sale.

Originally this location had an address of 1927 Division Street before the renumbering of Portland streets. The property was owned by the Pickard family as early as 1916. That year, the Morning Oregonian of March 29th and September 7th, listed it as the home address for George B. Pickard.

A few years later, The Oregon daily journal of August 15th, 1922, reported this location as the home of Mrs. Josephine Pickard. That same year Clarence Larsen was said to live at that address by the August 22 Morning Oregonian.

Before the 2015 sale to its current owners, 7601 SE Division Street served as employee parking for the Kaiser clinic. The secure parking lot featured 60 parking spaces and electronic gates on a 40,075 square-foot lot. The property went for sale in 2014 after the Kaiser clinic closed.

The nearby Portland Community college (PCC) considered purchasing it at their July 17th Board of Directors meeting that year. The asking price for the property was one million dollars. Beyond the over market rate asking price, other complications are documented in the PCC Board agenda notes.

“A significant complicating factor is that zoning for the property is uncertain. Staff’s view is that Kaiser’s need to provide for employee parking developed after the clinic’s development. In response to neighbor concerns, it appears that the City granted a temporary zoning change from R2 (residential) to CN2 (neighborhood commercial) to allow the property to be developed as Kaiser employee parking. It appears that this zoning action required that the zoning reverts to R2 upon a change in ownership. It further appears that this rezoning to CN2 occurred via a process that is no longer permitted, so the process for the zoning reversion is unclear.”

PCC investigated the purchase but ultimately declined to move forward. The following year DIG 76th Division LLC bought the property for $525,000 and has sought to sell or develop the site ever since. Capacity Commercial’s current asking price for the property is $4,075,000.

The zoning issue noted by the PCC Board is no longer an uncertainty now that the property is CM2 zoned. That will allow mixed-use for retail, office space, and residential construction. Any development on the property would not require onsite parking due to its access to mass transit.

If the property sells for a reasonable price, this location would be an ideal low-income development. It is walking distance from PCC and on the number 2 TriMet bus line for fast downtown access. At a time when the City is looking to add more affordable housing, letting this unused parking lot remain undeveloped seems like a wasted opportunity.

Interested buyers should contact George Diamond or Nicholas Diamond at 503-326-9000.

1966 Stark Street Storefront for Sale

Located at 8826 SE Stark Street, the former home of Kings Hookah Lounge is for sale. This retail building has upfront parking and large windows extending across the street side of the structure. Just a few blocks east of 82nd Avenue, this location offers highly visible retail space.

The 2,556 square-foot building is listed for $749,995 by SVN Bluestone & Hockley. Before operating as a hookah lounge, Nip & Tuck offered custom pillows, cushions, bedding, drapes, and window treatments from this location. In 1994 a plumbing permit indicated this was a Grocery operated by Aziz Rolman. The building opened in 1966 by owner Bud Flor.

This property offers an attractive retail opportunity. Its parking lot could accommodate outdoor guests or food carts without too much alteration. It will be interesting to see who snatches up this building and what shop will open there.

Garage Demo Leads to Lot Sale

A demolition permit at 8115 SE Yamhill Street makes way for a property split and sale. Permit number 20-188105 seeks to remove the attached garage connected by a breezeway to the 1917 house at this location.

Work is underway at the recently purchased home on Yamhill Street. Glacier Properties LLC bought this double-wide property in July of this year. Lot Confirmation 20-180814 started the process of splitting the property into two separate lots. The garage straddles the future property line between them and needs removal to facilitate separation.

The newly created empty lot is already for sale with a list price of $275,000. A note in the 40-foot by 100-foot lot’s listing states that “Garage demolition [is] in process.”

This undeveloped, standard-sized lot should attract mostly developers. However, a home buyer looking to build something custom could make use of this property. Double-lot sales followed by immediate property splits are becoming more common in Montavilla this year. This example on Yamhill Street is the fifth one in recent months. Look for the new property to be sold and developed soon.