Vet/Kennel for Redevelopment near Downtown 1411 SW 14th Ave 417 m² 20 % Loué Local commercial Vente aux enchères en ligne Portland, OR 97201

Pursue a versatile retail and office property with short-term upside and long-term redevelopment potential at 1411 SW 14th Avenue in Portland, Oregon. The building is built-out as a second-generation veterinary clinic and kennel, and approximately 20% occupied by a pet grooming tenant on a month-to-month lease. This exciting offer delivers existing income and allows immediate occupancy from an owner/user or lease up by a value-add investor.

1411 SW 14th Avenue spans two adjacent lots totaling 0.2 acres, which were improved by the 4,489-square-foot facility originally built in 1982. The property comprises a single story above a parking lot that provides surface and covered spaces for 17 vehicles and a handicapped-accessible entry ramp. The existing building includes functional spaces, with exam rooms, a surgery suite, lab space, a break room, an X-ray suite, two kennel areas, storage space, private offices, and restrooms. The site’s flexible CXd zoning allows for a wide range of mixed-use commercial projects, offering optionality to a developer. A new development at the location is eligible for a max height of 180 feet, with a 6:1 floor area ratio, presenting potential for both large and small tenants.

Situated in Portland’s vibrant Goose Hollow neighborhood, 1411 SW 14th Avenue enjoys fantastic access to major highways, public transportation, and the amenities and attractions of Downtown Portland. Clients and customers from across the greater metro can quickly find the facility, which sits directly off Interstate 405 and just minutes from Highway 26. Additionally, there are stops for Portland’s Streetcar and MAX light rail lines available within a five-minute walk. Traffic-driving destinations such as Washington Park, the Oregon Zoo, Providence Park, Lincoln High School, and Multnomah Athletic Club are all reachable in 10 minutes, while proximity to Downtown Portland also makes finding the location simple for visitors traveling from the Portland Art Museum, Tom McCall Waterfront Park, and Portland State University.

Portland’s SW Close-In Submarket offers a premier setting for retail investment and development, with vacancies of just 3.5% and a five-year average annual rent growth of 1.8%. Despite these tight fundamentals, no new retail space has been built in the submarket during the past decade, providing a valuable in-road for a new project at 1411 SW 14th Avenue. Additionally, office rents have posted a 10-year average annual growth of 3.6%, with year-over-year growth of 2%, displaying steady gains despite recent headwinds.

Providing an excellent location near Downtown Portland, flexible zoning that allows a myriad of development options, and existing income from a month-to-month lease agreement, 1411 SW 14th Avenue delivers the perfect acquisition to grow in this valuable Northwest Market.

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