owner/user opportunity with income · the 1,669 sf auto repair shop is currently leased to a month...

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3347-3353 & 3401 N. Lombard St. and N. Gravenstein Ave. & N. Russet St. | Portland, OR

1800 SW First Avenue, Suite 650 | Portland OR 97201 | WWW.MACADAMFORBES.COM | 503.227.2500

Eleanor Aschoff 503.972.7296 [email protected]

FOR MORE INFORMATION, CONTACT:FOR SALE

OWNER/USER OPPORTUNITY WITH INCOME

All of the information contained herein was obtained either from the owner or other parties we consider reliable. We have no reason to doubt its accuracy, however we do not guarantee it.

WWW.MACADAMFORBES.COM | 503.227.2500All of the information contained herein was obtained either from the owner or other parties we consider reliable. We have no reason to doubt its accuracy, however we do not guarantee it.

PROPERTY SUMMARYLocated in the popular Kenton Neighborhood on the corner of N. Lombard Street and N. Gravenstein Avenue. This property consists of four separate tax lots being sold together to provide a new owner the opportunity to utilize each lot as they see fit.The 5,000 SF showroom with warehouse is ideal for an owner user looking for retail frontage on Lombard with ample parking for employees and customers.The 1,669 SF auto repair shop is currently leased to a month to month tenant. The tenant would like to stay if possible. Auto body sites continue to be in high demand.

COMBINED SALE PRICE: $1,985,000

ZONING

COMMERCIAL MIXED USE 1 (CM1) Specific allowable uses include: retail sales and services, office space, household living, institutional uses and very limited manufacturing uses. The auto body shop is commercially active and the use is grandfathered in. The owner has a conditional use for auto sales on the 10,000 SF lot.

Buyer to complete own due diligence on zoning and legal uses for the site.

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PROPERTY INFORMATION

• 5,000 SF showroom/warehouse on 4,415 SF lot - vacant

• 10,000 SF paved and fenced parking/yard - vacant

• 1,669 SF auto repair shop on 4,415 SF lot - leased

• Billboard on property - leased income property

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N. Lombard / N. Gravenstein / N. Russet | PROPERTY SUMMARY


N. Lombard / N. Gravenstein / N. Russet | PROPERTY DETAILS

FEATURES• Updated plumbing, electrical, water

lines, and HVAC in 2010• Central vaccuum system for

showroom• Approximately 1,160 SF of finished

basement area• Sawdust exhaust system throughout

shop area

• 3347-3353 N Lombard StreetLOT SIZE4,415 SF

BUILDING SIZE5,000 SF

ZONINGCM1, Commercial Mixed Use 1

YEAR BUILT1924

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THE CM1 ZONE is a small-scalle commercial mixed use zone intended for sites in smaller mixed use nodes within lower density residential areas, on neighborhood corridors, and at the edges of neighborhood centers, town centers and

regional centers. Buildings in this zone are generally expected to be up to three stories.

Specific ALLOWABLE USES include: retail sales and services, office space, household living, institutional uses and very limited manufacturing uses.

35’ Maximum height, which is generally 3 stories.

1.5:1 FAR Increasing to 2.5:1 with bonus provisions

Parking is generally not required for non-residential uses when development is located near transit or contains fewer than 30 residential units.

• N. Gravenstein Avenue & N. Russet StreetCOMBINED LOT SIZE10,000 SF

FEATURES• Two 5,000 SF fee simple lots totaling 10,000 SF• Lots are paved, fenced and currently used for parking

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DEVELOPMENT DETAILS

HIGHLY DESIRED EMPLOYEE/CUSTOMER PARKING OR DEVELOPMENT OPPORTUNITY



• 3401 N Lombard StreetLOT SIZE4,415 SF

BUILDING SIZE1,669 SF

ZONINGCM1, Commercial Mixed Use 1

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*With the zoning change implemented in May 2018, new auto repair use is not allowed. Existing auto repair is granted a grandfather clause and can remain as long as the property does not sit vacant for more than 3 consecutive years, a change of use, or damage to more than 50% of the building.

YEAR BUILT1951

TENANCYMonth-to-Month

• BillboardAdditional income of $900/year from billboard currently leased through 2026.4

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N. Lombard / N. Gravenstein / N. Russet | DEMOGRAPHICS & LOCATION

DEMOGRAPHICS

1 Mile 3 MilesPopulation 20,860 101,369Households 7,652 41,063Median HH Income $69,175 $66,961Pop. Growth ‘18-’23 á6.5% á7.0%HH Growth ‘18-’23 á6.3% á6.8%

LOCATION HIGHLIGHTSThe property is located on a busy corridor surrounded by grocery, restaurant and retail amenities, including Green Zebra Grocery and Walgreens. The property also offers quick access to St. John’s, University Park, and Hayden Island. Additional highlights include: • Traffic count at property: 13,220 • 1 mile to I-5 via N. Lombard• 1 mile to MAX Yellow Line• 4 miles to Vancouver, WA• 4.5 miles to Downtown Portland

owner/user opportunity with income · the 1,669 sf auto repair shop is currently leased to a month...

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