5511 S Hood Ave
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5511 S Hood Ave
1 Acre of Commercial Land Offered at $4,500,000 in Portland, OR 97239
Investment Highlights
- Large level parcel of CM2 zoned land for re-development
- 5 income producing leased properties on month-to-month leases
- 10 tax lots for flexibility
Executive Summary
New price adjustment! The South Portland Redevelopment site consists of ten parcels of land, totaling 43,500sf. This large assemblage of property provides a unique redevelopment opportunity offering flexibility for multifamily, mixed-use, retail, and office. Located in the highly desirable Johns Landing neighborhood, the property offers easy access, via Macadam Avenue or I-5, to downtown Portland, Lake Oswego, Sellwood, and SW Portland, amongst other areas. It is a rare opportunity that such a large, level piece of land with CM2 zoning comes available in our market for redevelopment. Presently, there are few active land listings zoned CM2, with most averaging around 7,000 SF in size, within a three-mile radius
of the site, and there are no similar size parcels of CM2 land for sale nearby. In addition, the property benefits from five income-producing properties, allowing a developer to have an income stream while going through the planning and design phases with the City of Portland. Furthermore, each of the properties’ leases are month to month, allowing a developer flexibility to obtain control to meet their development timeline.
of the site, and there are no similar size parcels of CM2 land for sale nearby. In addition, the property benefits from five income-producing properties, allowing a developer to have an income stream while going through the planning and design phases with the City of Portland. Furthermore, each of the properties’ leases are month to month, allowing a developer flexibility to obtain control to meet their development timeline.
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Property Facts
| Price | $4,500,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Redevelopment Project | Total Lot Size | 1.00 AC |
| No. Lots | 1 |
| Price | $4,500,000 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 1.00 AC |
1 Lot Available
Lot
| Price | $4,500,000 | Lot Size | 1.00 AC |
| Price Per AC | $4,500,000 |
| Price | $4,500,000 |
| Price Per AC | $4,500,000 |
| Lot Size | 1.00 AC |
10 level lots combining to 43,500sf of CM2 zoned land.
Description
Approximately 1 ac of CM2 zoned land in the Macadam Ave Plan District in Johns Landing/South Portland neighborhood. Right off Macadam, this level property consists of 10 individual 4,350sf level parcels which currently have 5 buildings with tenants on MTM leases.
Walk Score ®
Very Walkable (80)
Bike Score ®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $110,660 | Total Assessment | $1,095,130 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$110,660
Improvements Assessment
$0
Total Assessment
$1,095,130
zoning
| Zoning Code | CM2 |
| CM2 |
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5511 S Hood Ave
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