The half-acre property and food cart pod at 3905 SE 82nd Avenue is available to purchase for $3.6 million. Listed by Keller Williams Realty, Eastport Food Center is a fully leased 26-space food cart pod situated across from Eastport Plaza. The pod opened in 2020 on a former used auto-lot. The owner converted the 900-square-foot sales office into an indoor seating area, installed water and sewer hookups for each cart, and completely fenced the property.
The real estate flyer for the listing touts a yearly rental income of $400,000 which would offset the purchase price of this investment property. A new food cart pod across 82nd Avenue from this location opened a little over a year ago, placing the two eating destinations within three blocks of each other. That purpose build property at 3612 SE 82nd Avenue, called Collective Oregon Eateries (CORE), has added competition to the casual dining market along 82nd Avenue. However, it offers around half the cart spaces as its neighbor.
The site’s sale is contingent on the seller achieving a 1031 Exchange purchase of another property. This tax-saving maneuver is available when a person sells one investment property to buy another investment property. This requirement indicates the seller is not looking to generate cash but wants to move their investment to another location within the United States. Interested buyers should contact James Gillespie with Foundation Commercial Group (KW Commercial) by phone at 503-890-5775 or by email.
Correction: A version of this article mistakenly noted annual revenue as monthly. It has been corrected, and we regret the error.
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