Tag: B&U Properties

Proposed Food Cart Pod on SE 82nd

SE 82nd Avenue may soon have a new food cart pod near the popular SE Stark commercial area. A recent Early Assistance application revealed plans for the large corner property on SE 82nd Avenue at SE Ash Street. The new owner of 218 SE 82nd Avenue wants to demolish the existing Recreational Vehicle (RV) sales buildings and construct a food cart pod with an overhead canopy structure and other amenities.

B&U Properties bought the corner lot used by Budget RV Center in November of 2021. The same Limited Liability Company had recently acquired three lots adjacent to the RV sales property in June of 2021. B&U Properties is owned by Uday Seelam, who previously operated a food cart business and has experience in the food service industry.

The combined site owned by B&U Properties is 260 feet long and 100 feet deep, making it a sizable dining venue with space for parking and dozens of food carts. The proposal for the site includes adding water and sewer services to support the food carts, along with a shared trash enclosure. Crews will reconstruct the existing commercial driveway and add a pedestrian entrance from SE 82nd Avenue. They will also provide modular bathrooms on site, similar to the facilities installed at The Yard at Montavilla food cart pod.

Modular bathrooms at The Yard at Montavilla

This new food cart pod would be Montavilla’s second culinary collective opened in the last few years. The Yard at Montavilla greeted guests a year ago, just two blocks to the north. One month before the Yard’s grand opening, the Collective Oregon Eateries (CORE) at 3612 SE 82nd Avenue opened near SE Powell Blvd. If approved, this new pod could create a competitive marketplace for food cart operators seeking favorable rent while remaining in the same vicinity. This project is in the early stages of development and will likely not begin construction until sometime in 2023.

Owner Selling Two Large Properties on 82nd

Guild Investment Properties listed two of its Montavilla properties for sale this week. Each lot fronts 82nd Avenue and could support substantial redevelopment. Three businesses maintain leases at the locations and will continue occupancy in the event of a sale.

Rose City Automotive, located at 1033 NE 82nd Avenue and Metro Courts at 1015 NE 82nd Avenue, share a 21,780 square foot lot. This mid-block property includes nearly 200 feet of access to NE 82nd Avenue and is three blocks from a Max station. Initially developed in 1960, the property caters to automotive businesses with a substantial parking lot for each building. The listed price is for this property $2,250,000.

Rose City Automotive located at 1033 NE 82nd Ave

Family Fun RV leases the half-block property at 333 SE 82nd Avenue. This lot spans 28,212 square feet and sits between McDonald’s and St Peter & Paul Episcopal Church. Currently configured for automotive sales, only a small office and maintenance building exists at the location. This property is one block from Montavilla Town and has street frontage on three sides. It is located in a pedestrian district and accessible by many transportation options. Also listed for $2,250,000, this property is ideal for redevelopment.

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

Six months ago, a 14,250 square foot parking lot across the street from 333 SE 82nd Avenue sold to B&U Properties for $807,500. By comparison, Guild Investment Properties priced its offerings higher than a market rate for the land. However, as investments, both new listings have active leases and generate income without further development, making the sites more valuable.

Property listings do not guarantee a sale. Owners may attempt to sell an asset to establish an accurate market value for a property and decline offers. Regardless, this is a unique opportunity for a developer to evaluate the potential of two massive properties along 82nd Ave. Redevelopment at either location would significantly impact a transforming portion of Portland and help improve the streetscape. 


Update: Guild Investment Properties listed another two buildings for sale.