Live/work flex Historic Lair Hill (Restaurant+Residential)
Retail | 4,800 SqFt
Marketing description
Versatile Live/Work Commercial Asset in Historic Lair Hill | Restaurant + Residential
Discover a rare live/work investment opportunity in Portland's historic Lair Hill neighborhood. Spanning 4,900 SF across three functional levels on a 3,975 SF CM1-zoned lot, this highly adaptable property delivers immediate rental income paired with flexible future use options.
Key Features & Income Highlights:
• Turnkey Ground-Floor Restaurant: 1,600 SF 2nd-generation restaurant space, formerly home to the neighborhood staple Lair Hill Bistro and currently operating as an Ecuadorian Bistro. Occupied by a month-to-month tenant, offering immediate cash flow with the flexibility for an owner-operator to step in and launch a new concept.
• Spacious Multi-Level Residential Unit: The upper two stories feature a generous 5-bedroom, 1-bathroom apartment—ideal for an owner-user looking to live above their business, or as a value-add residential rental.
• Flexible CM1 Zoning: Commercial Mixed-Use (CM1) zoning permits a wide variety of retail, office, and residential combinations to suit various commercial strategies.
Investment highlights
Ground level- 2nd gen kitchen (Formerly Lair Hill Bistro)
2nd + 3rd floors- Residential (5 bed, 1 bath)- could be live/work space or rented out
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