Gateway Medical or Retail Building

We are pleased to offer for sale 10566 SE Washington Street in Portland’s Gateway district. The property is located half a mile from Interstate 205 and adjacent to some of the region’s highest traffic retail, including Target and Home Depot. The property is located in a high traffic area located next to Mall 205 with good daytime demographics and excellent visibility. The Mall 205 Submarket is surrounded by some of Portland’s most prominent outlying neighborhoods: Montavilla and South Tabor on the west, Hazelwood on the north, Mill Park to the east, and Lents to the south. The Gateway (GA) plan district provides for an intensive level of mixed-use development including retail, office, and housing to support light rail transit stations and the Regional Center at Gateway. This is accomplished by: - Encouraging new development and expansions of existing development to promote the district’s growth and light rail transit ridership; - Promoting compatibility between private and public investments along the light rail system through building design and site layout standards which provide safe, pleasant, and convenient access for pedestrians to the light rail transit station; and - Requiring that new development and expansions of existing development create attractive and convenient facilities for pedestrians and transit patrons to visit, live, work, and shop.10566 SE Washington Street is situated adjacent to some of the region’s highest traffic retail, including Target and Home Depot, and just half a mile from Interstate 205. The 9,270 square foot building is situated on a nearly one-acre parcel, with abundant parking, excellent visibility, and direct access to public transportation. Renovated as a modern medical facility in 2017, the building is currently occupied by a single owner-user but divided in two distinct premises – a fully built-out birthing center, and a thriving medical clinic. Zoned CX (Central Commercial), the property is suited to a wide array of medical, commercial and retail uses. The current owner will execute a long-term leaseback of all or a portion of the building at market rates, offering a fully leased asset to investment buyers.