JLL, as exclusive advisor for the seller, is pleased to present the opportunity to acquire the 100% fee simple interest in 933 NW 25th (the “Property”) in Portland, Oregon. Located in Portland's Northwest District, 933 NW 25th presents the unique opportunity for an owner user to upgrade and occupy the space as medical or traditional office, while also giving investors the opportunity to redevelop the property into multi-housing per the parcel's RM3 zoning. The 2-story medical office building has ample parking and easy ingress and egress from NW Lovejoy Street and NW 25th Avenue with second story access from the parking lot, lobby access from the street, and a partial basement.
Delivered vacant, the former surgery center is immediately available for new ownership use and/or redevelopment plans. Grandfathered in medical office use allows the new tenant to continue a medical office practice in Portland’s “Pill Hill” and the Property is only two blocks from Legacy Good Samaritan Medical Center. The Property can also be used for traditional office use.
Zoned RM3, the Property can be developed into medium-to-high density multi-dwelling units, allowing mid-rise buildings, typically 3 to 6 stories. Most of the surrounding area is zoned RM2 or R7, offering significantly less dense development optionality.
- 8,800 square foot vacant clinic and/or office space, with partial basement, immediately available for medical office use
- Located blocks from the commercial nodes of NW 23rd Ave and NW 21st Ave in Portland's desirable Northwest District
- Rare RM3 Zone, offering medium-to-high density multi-housing development
- Generous parking with easy ingress and egress from NW Lovejoy St and NW 25th Ave
- Adjacent to Good Samaritan Medical Center or “Good Sam”, one of Portland’s longest standing hospital and treatment centers
- Opportunity to increase annual income through easement agreement for adjacent parking structure