21st & Kearney Redevelopment Site

Description:

With unique access on both Kearney and Lovejoy street, this site boasts the highest residential multi-dwelling zoning of RM4, offering a base FAR of 4 to 1 and a potential bonus FAR of 7 to 1, with no required parking, thanks to its direct proximity to the streetcar line. Imagine the possibilities as your new development soars 100 feet into the sky, capturing the essence of urban living at its finest while making your mark on Portland’s skyline. 
Adding to the appeal is a long-term tenant who has been occupying the existing 14,600sf building since 1990s. With a current month-to-month lease, this tenant may also be interested in signing a term lease while your new project is being permitted, offering continued  income during the development process.


Embrace the charm of Old Portland in this highly convenient location, which beckons for much-needed residential development. Here, you will discover an exceptional half-acre redevelopment opportunity in the heart of Portland’s coveted Alphabet district at 21st & Kearney. This prime property’s walkability is second to none, enveloped by sophisticated shopping, gourmet dining, charming boutique retail outlets, and the natural splendor of nearby Forest Park. Only blocks away, tenants can access the vibrant new Slabtown neighborhood, Providence Park (home of the Portland Timbers and Portland Thorns), downtown Portland, and the Pearl District.


• 170 Feet of Frontage on NW Kearney St & 50 Feet of Frontage on NW Lovejoy
• 4 to 1 Base FAR (7 to 1 Bonus FAR)
• Interim Income Reflecting a 3.72% Cap Rate
• Highly Desirable NW Neighborhood
• Rare 22,000 SF (0.5-Acre Opportunity)

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