Category: Property Sale

Business Closing, History, Property Sale October 10, 2022March 25, 2023

Massive I84 and 82nd Ave Property for Sale

An acre of Commercial Mixed Use real estate at 1411 NE 82nd Avenue recently became available on Montavilla’s northern edge. The lot, adjacent to Interstate 84, is the current home to Eastern Cathay restaurant and is the former birthplace of the Elmer’s Pancake House franchise.

The listing agent, Adrian Chu of Specialty Real Estate Group, is positioning this property as a “developer’s dream.” The parcel sits at the intersection of a freeway, 82nd Avenue, NE Halsey, and the TriMet MAX Light Rail system. The site is underdeveloped, with only a single 4,500-square-foot restaurant building at its center, surrounded by more parking than guests could fill. If redeveloped, residents could quickly travel to any destination from this location with numerous transportation options, and retail on the ground floor would have access to hundreds of daily commuters.

*Courtesy Danna brothers and Midcounty Memo*

This site was born out of the I-84 expansion, having been leveled during the widening of Sullivan’s Gulch. The 1950’s era civil engineering project required the demolition of the McCarthy & Danna Food Center that had formerly occupied the land over the freeway where NE Halsey connected to NE 82nd Avenue. The store’s operator, Salvatore “Sam” G. Danna, intended to rebuild the grocery store on the remaining property not taken by the freeway project. However, a restaurateur suggested a different use for the vacant lot. In 1960, Danna constructed the first Elmer’s Colonial House of Pancakes restaurant on this site for Walt and Dorothy Elmer. Opening in 1961, this breakfast-focused restaurant began what would become a Northwest business empire spanning multiple states. However, this location closed after the customer base shifted to other areas.

*Sanborn Map 1924 showing McCarthy & Danna Food Center location*

In October 2008, Rong Liang Mei bought the property and restaurant. Having already started two successful restaurants, the new owner quickly converted this location to Eastern Cathay. The business is available as part of a sale or will shut down after the deal finalizes. At $3 million, this property may stay on the market for a while. However, its size and location make it a tempting acquisition for a developer or government buyer.

Jacob Loeb

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Business Closing, Construction, New Residence, Property Sale October 1, 2022August 18, 2023

191 Apartments Proposed on SE Division

The new owners of a large warehouse at 8301 SE Division Street recently proposed a transformation to the 30,000-square-foot property. Last month, Diamond Plaza LLC applied for Early Assistance with the creation of 191 apartment units over 4,390 square feet of ground-floor retail space. A veteran of similar projects, Hoff Construction Group, will manage the site’s development.

Only 50 feet of the property exists on SE Division Street. Most site access occurs along SE 83rd Avenue. The lot is in a Commercial Mixed Use 2 (CM2) zone with a Centers Main Street (m) overlay. That will allow buildings with four stories, except in locations where bonuses allow up to five levels. The M overly requires active ground floor commercial uses with windows and a minimum building footprint covering a large portion of the site. This overlay also limits certain auto-oriented uses and favors compact, walkable design.

Division Street has seen many recent high-density mixed-use development in the last decade. However, few of those projects extend east past 82nd Avenue. In 2019, Hoff Construction Group completed a similarly sized complex to what designers proposed at SE 83rd and Division. That project at 2595 SE 50th Avenue created the Division Street Station apartment building with a mix of studio, one-bedroom, and two-bedroom units. If both developments are indeed comparable, it could indicate a significant change for this section of East Portland, with the influx of new residents helping fill retail vacancies in adjacent properties like the Pacific Plaza.

Tran’s Auto Body last occupied the green 8,999 square-foot warehouse now at the site. That automotive services company recently ceased operation after two decades. Upon closing the business, Quy Tran sold the SE Division Street property to Diamond Plaza LLC. The Mt. Hood Building Supply company was one of the original tenants of this 1970-built structure, using the large metal building for lumber storage. Its early uses shaped the utilitarian design of the site, and subsequent businesses did not alter it much over the years.

This location’s current configuration reflects an industrial past that now seems out of place next to Portland Community College and the pedestrian-scale retail developments along the street. Converting this location to housing aligns with the efforts of Jade District leaders and other community groups working in this area. Most people should welcome the new mixed-use building if it is approved.

The current proposal is only in the Early Assistance phase of development. Details of the project will likely change before the owners apply for building permits. However, any significant construction on this site will improve SE 83rd Avenue. That street only has 230 feet of sidewalk along its western edge. Work at this property will create 360 feet of new sidewalk and replace pavement on its eastern side of the roadway, improving the utility of this currently dead-end street. Expect further updates regarding this project in 2023 as designers refine their plans for this transformative redevelopment.

Update August 18th, 2023 – The project is now called Jade Lofts and the developer reduced the unit count to 143.

Jacob Loeb

Property Sale September 26, 2022March 25, 2023

Commercial Building for Sale on SE 80th

The single-story brick building at 327 SE 80th Avenue is for sale. The shop most recently housed Dan’s Auto Upholstery. However, the 1949-era building is divided into two units, each space having an independent street-facing entrance and rollup automotive door. Located near the center of Montavilla Town, this commercial building could easily support a variety of businesses, including retail or food service.

The owners are seeking nearly $1.5 million for the property, positioning it as an owner-occupied investment with added tenant revenue. The building occupies practically the entire lot at 4,600 square feet. It has twelve and a half feet of internal height, making the building move-in ready for automotive or manufacturing use. However, the Commercial Mixed Use 2 (CM2) zoning would allow retail, office, and housing on the site. The new owner could potentially build above this structure, supporting up to three additional floors of offices or apartments.

Interested buyers should contact Capacity Commercial Group through their website or review the real estate flyer.

Jacob Loeb

Property Sale September 18, 2022March 25, 2023

Montavilla Apartment Complex for Sale

This month, the owners of Connery Place Apartments at 8130 SE Mill Street listed the property for sale. The 72-unit apartment complex sits in the center of a city block near SE 82nd Avenue and Mill Street. Amenities for the twelve-building site include a swimming pool, secured parking, community building, and laundry facilities. Residents access their homes through a gated parking lot behind the Sushi Yummy & Chinese Restaurant.

Developers built this large housing project in 1977. In the last 20 years, the complex sold three times. Tall Pine Properties LLC bought the site in 2005 for $2,800,000 and sold it to CH Montavilla LLC for $3,875,000 in 2012. Euclid Associates LLC purchased the apartment buildings three years later for $7,100,000. In 2017, the current owners transferred the property to a new company with similar ownership, Connery Place Partners LLC. The current asking price for the 1.79-acre development is $13,800,000.

The apartment complex contains 19 one-bedroom and 53 two-bedroom units. The property owners recently refurbished four units after a fire in one of the southeast structures. Apartments 53-56 received new windows and other updates, including a new stairway and landing. According to the seller, the owners upgraded other select units with resurfaced counters, new cabinets, vinyl plank flooring, stainless steel appliances, and stainless-steel fixtures.

The sale of the property could present a downside for residents. The real estate listing for the property notes that “rents are below market rates, presenting immediate investment upside.” Although the new owner is ultimately responsible for determining rate adjustments after leases expire, investor financing for this real estate purchase could require an increase in renal revenue.

Commercial real estate can take months or years to sell. Residents of the Connery Place Apartments should not anticipate an immediate change in ownership or operations at the site. However, this site has an advantage over other housing in the area. These apartments are secluded in the center of a city block, providing a uniquely isolated living environment in an otherwise busy area of the neighborhood. Interested buyers should contact HFO Investment Real Estate at 503-241-5541.

Jacob Loeb

Property Sale September 9, 2022March 25, 2023

NE 93rd and Glisan Residential Property

This week, the owners of a vacant building at 9265 NE Glisan Street listed the property for sale. The 8,000 square foot corner lot is zoned Residential Multi-Dwelling 2 (RM2) and allows for three or four-story buildings with an urban scale. An existing single-family residence built in 1919 occupies the site. The old structure is currently boarded up and fenced off, preserving the 100-year-old interior.

The property is located in a prime area for medium-scale housing with a TriMet number 19 Bus Stop on the block. The site is within walking distance of the Gateway Transit Center, and future NE Glisan improvements intend to tame the heavy traffic in front of this property.

Although the home is in salvageable condition, the property’s redevelopment into a medium-scale multiunit dwelling would better fit the current zoning along NE Glisan and provide housing for up to 17 families. John L. Scott’s listing for the Glisan street home contains more information and pictures. Interested buyers should contact Beverly Moser to schedule a tour.

Jacob Loeb

History, Property Sale August 26, 2022March 25, 2023

SE Yamhill Vacant Lot for Sale

The new owners of a vacant lot east of 8505 SE Yamhill Street recently placed it on the market after selling the neighboring single-family residence. Ground Breakers Construction & Development purchased the 1923-era home and lot in April of 2022, reselling the home two months later.

The vacant lot once held a five-room “modern bungalow” built in the early 1900s. The one-and-a-half-story home had the address of 2115 E. Yamhill Street. The first record of the property appears in the Morning Oregonian of December 12th, 1912. This advertisement asks for a $200 downpayment for the home located one block from the Mt. Tabor streetcar line. Four years later, the home’s inhabitant J. A. Orchard, listed his Victrola and records for sale in The Oregon daily journal on June 22nd, 1916. By 1919, the Morning Oregonian of August 11th shows the property for sale again. Later that year, a marriage license by J. R. Moffatt at this address was printed in The Oregon daily journal on November 29th, 1919. Through the early 1920s, J. A. Orchard continued using 2115 E. Yamhill Street as his home address. The demolition date for the house is unknown, but at some point, the land merged with 8505 SE Yamhill Street.

Now that Ground Breakers Construction & Development separated these two properties into the original parcels, this lot will again serve the needs of Montavilla residents, providing needed housing. Windermere Real Estate offers information regarding the sale price in the property listing. Contact Kendall Woodworth at (503) 539-0001 with questions or to see the land.

*Morning Oregonian of December 12, 1912*

*The Oregon daily journal of June 22, 1916*

*The Oregon daily journal of November 29, 1919*

Jacob Loeb

Property Sale August 25, 2022March 25, 2023

36 SE 82nd LiveWork Building for Sale

The distinct green metal-clad building at 36 SE 82nd Avenue is for sale. Initially built in 1910 as a home, this two-story structure is now zoned for medium-scale commercial mixed-use and configured to support a live-work business. The building has transformed substantially over the last century, with the most recent remodel in 2002. Since that time, it housed Eastgate Health Clinic offering naturopathy herbs and acupuncture.

Phan Hoang An owns both the building and business at this site. However, the listing at Keller Williams Realty does not state the property will sell with an active lease, indicating the clinic will no longer operate from this location.

Although the building is in usable condition, a new owner may redevelop this property. Half of the site serves as a paved back parking lot and driveway. New buildings in this zone are generally expected to be up to four stories tall, with a base floor area ratio (FAR) of 2.5:1. That number increase to 4:1 with bonus provisions, allowing a four-level development that uses most of the property. With the lot located within steps of the number 20 and 72 TriMet bus lines, this location would be ideal for affordable housing with retail on the ground floor.

People interested in buying this property can contact the listing agent Tim Phommany at (503) 896-8861 or timphommany@kw.com.

Jacob Loeb

Business Relocating, Property Sale August 18, 2022March 25, 2023

Family Fun RV Moves Out of Portland

This month, Family Fun RV closed its location at 333 SE 82nd Avenue after relocating the last reaming inventory to the new lot in St. Helens, Oregon. Construction fencing now surrounds the former vehicle sales establishment. Last year this company closed its other Portland location at 1027 SE 82nd Avenue to focus efforts oping a larger facility along Columbia River Highway.

Since 2017, Family Fun RV sold new and used recreation vehicles from the 82nd Avenue location. Although suffering recent thefts at the site and navigating challenging conditions on surrounding streets, this business’s relocation stemmed from the imminent sale of the property. The owner of this 28,212 square foot car lot listed it for sale at the beginning of 2022, along with many other properties in the area. Information regarding the pending sales of the site is not yet known. However, Family Fun RV staff indicated in a phone call last month that they would only close the 82nd Avenue location after being informed of an offer on the property.

*Family Fun RV at 333 SE 82nd Avenue from January 2022. Image from Google Maps*

Family Fun RV’s new sales lot is substantially larger than the old Portland location, giving the woman-owned business the space to grow operations. Whoever buys the now-vacant 82nd Avenue location will gain a propionate property near downtown Montavilla. The half-block site has street frontages on three sides, making it highly accessible for many concurrent uses. Although it could easily host another automotive business, it is an ideal location for a mixed retail and housing project.

Jacob Loeb

Business Relocating, Property Sale July 30, 2022March 25, 2023

Medical Building For Sale on SE 80th

A single-story medical building on SE 80th Avenue near SE stark Street is for sale. The property at 300 SE 80th Avenue formerly housed Hand Therapy Specialists. The corner lot sits across SE Pine Street from Montavilla United Methodist Church and next door to Montavilla Dental Arts.

Hand Therapy Specialists relocated to Northwest Portland In January of 2022 and appears to have changed ownership. The hand rehabilitation clinic had occupied the building on SE 80th Avenue for twenty years. Now the former clinic owners are selling the facility located in historic Montavilla downtown.

Crews completed construction of the 1,878 square foot building in 1948. It has undergone several updates over the years, including a project to enclose the front porch around 2018. The long building is surrounded by well-maintained landscaping on a quiet street. Although last used for medical work, it can easily convert into office space. Contact the Nick Shivers Team at (503) 594-0805 for more information about purchasing the property.

Jacob Loeb

Business Relocating, Community, Construction, Property Sale July 29, 2022March 25, 2023

AYCO Seeks New Home on 82nd

African Youth & Community Organization (AYCO) is in the process of buying the Flex Building located at 2110 SE 82nd Avenue. The youth mentoring organization currently operates out of the former Trinity Broadcasting Network (TBN) building on NE Glisan Street. Developers will soon transform the TBN site into affordable housing, prompting AYCO’s move to a new facility. However, the group needs to raise $5.5 million to purchase and renovate the new building.

In January 2021, AYCO relocated to 432 NE 74th Ave from SE 122nd Avenue. Although the group knowingly committed to a short-term lease for the property on NE 74th, they hoped to become a partner organization in the supportive housing planned for the site. Unfortunately, Metro did not select the development group they partnered with, making another move inevitable.

This week the developers submitted a type 2 Land Use Review for the first of two buildings planned for the Glisan and 74th housing project. That four-story wood-framed residential building will contain 41 units of permanent supportive housing above a ground floor commercial kitchen, cafe, and retail incubator space. Additional amenities include resident services, laundry rooms, bike parking, and a community room.

With the permitting process underway, securing a new home for AYCO takes on a new sense of urgency. The Flex building on SE 82nd Avenue is several years old but has never found a tenant. Constructed in

2017, the building’s owner anticipated demand for high-end office and commercial space on 82nd Avenue near SE Division Street. Lower demand and the pandemic kept the building vacant except for a short-term popup COVID testing site. Crews only constructed the basic shape of the space, waiting for tenants to dictate the placement of interior walls. This unfinished condition will add to AYCO’s overall costs for the project. “The building is a shell and needs huge construction [and] tenant improvements,” explained AYCO Executive Director Jamal Dar.

The Flex building will cost $3.6 million to purchase. AYCO staff have allocated the remaining $1.9 Million to cover construction and furnishings. Fortunately, they have already received commitments for $1.5 million from supporters. An additional $2.5 million is expected to come from Federal funds and contributions from the City of Portland. Now, AYCO is seeking donors at any level who can help bridge the $1.5 million gap. They must find those funds within six to ten months or incur debt from loans.

The Flex building offers many benefits to the AYCO community, and buying the building will provide the permanent home this group has sought for many years. Dar explained that the building is centrally located near the community his organization serves. He feels its proximity to several schools, shopping, and transit options will be an invaluable benefit to the immigrant and refugee community using this resource center.

At 18,682 square feet, the increased building size means AYCO will continue to offer all existing programs with room to expand. “[The building] will allow us to conduct all of our programs, including establishing early childhood education and many other programs we currently don’t have,” said Dar. Buying the Flex building has the potential to take AYCO to a new level and secure its space in the supportive services community.

People or groups interested in investing in AYCO’s future location on SE 82nd Avenue should visit the group’s website www.aycoworld.org and click this Donate Now button at the top of the page. Jamal Dar and his staff are available to talk to groups interested in large sponsorship opportunities.

Jacob Loeb

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