16721 SE Division St
Prime Commercial Site in High-Traffic East Portland Corridor | Seller-Financed Zoning Change
Marketing description
INVESTMENT OVERVIEW 16721 SE Division Street presents a compelling redevelopment opportunity in Portland's growing eastern corridor. This 1.10-acre commercial site currently hosts a vacant restaurant, a vacant warehouse building, and a vacant residential structure, providing a substantial potential for repositioning or full redevelopment. The property sits in a high-traffic retail corridor with excellent visibility and accessibility. Located within Portland's Mall 205 Submarket, the site benefits from strong traffic counts averaging over 30,000 vehicles per day and is situated among major retailers including Ross, Rite Aid, and Regal Cinemas in the immediate vicinity. With CN2 (Neighborhood Commercial) zoning, the property allows for a wide range of potential commercial uses and development scenarios. The increasing property values in East Portland and the site's strategic location position this offering as an attractive investment for developers, investors, and owner-users seeking value-add opportunities in a growing Portland submarket.
Investment highlights
INVESTMENT HIGHLIGHTS STRATEGIC LOCATION
• Located on high-traffic SE Division Street with over 30,000 vehicles passing daily • Excellent visibility and accessibility in Portland's eastern commercial corridor
• Surrounded by established retailers including Ross, Rite Aid, Regal Cinemas, and others
• Very walkable location with a Walk Score of 72 ("Very Walkable")
• 20-minute drive to Portland International Airport
DEVELOPMENT POTENTIAL
• CN2 (Neighborhood Commercial) zoning allows for a variety of retail, office, and mixed-use development
• Large 1.10-acre (47,916 SF) flat site with dimensions of 259' x 185'
• Current improvements under-utilize the site's potential, creating significant upside
• Growing East Portland market ideal for retail or mixed-use redevelopment
FAVORABLE MARKET DYNAMICS
• Growing population and commercial activity in East Portland
• Increasing property values throughout the Mall 205 Submarket
• Strong retail and commercial demand in the area
• Portland's continued population growth and commercial expansion support redevelopment thesis
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