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Water Ave Land
ACTIVE

$500,000

Water Ave Land, Portland, OR 97201

Property Description

3 contiguous parcels of leased land at the west end of the Ross Island Bridge — ~7,500 SF paved lot leased to a towing company at $2,500/mo through March 2028 (6% cap rate). Zoned CI2, Opportunity Zone, near OHSU and proposed Portland MLB stadium site.

Property Highlights

  • Leased at $2,500/mo with 3% annual increases through March 2028 — ~$30K annual income
  • 6% cap rate — income covers holding costs while you land bank
  • Zoned CI2 (comparable to CM3) — wide range of commercial and mixed-use development options
  • Located in an Opportunity Zone — potential tax advantages for qualified buyers
  • Adjacent to OHSU, South Waterfront developments, and proposed MLB stadium site

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