Eliot Tower Retail Condo R2 — Sale in Portland, OR

  • Price: $1.1M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Portland, OR 97205

Photos

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Description

EXCELLENT OWNER USER OPPORTUNITY PARTNERED WITH BUILT-IN INCOME FROM A LONG TERM RELIABLE TENANT CBRE, INC. HAS BEEN APPOINTED AS THE EXCLUSIVE AGENT FOR THE SALE OF THE ELIOT TOWER CONDOMINIUM UNIT R2, WHICH ENCOMPASSES APPROXIMATELY 4,789 SQUARE FEET OF PRIME RETAIL SPACE HOUSING LONG TERM TENANT PORTLAND ART MUSEUM’S RENTAL SALES GALLERY, WITH A REMAINING VACANCY OF 1,601 SQUARE FEET. THIS UNIQUE PROPERTY PROVIDES AN UNMATCHED OPPORTUNITY FOR AN OWNER USER TO ESTABLISH A LOCATION IN DOWNTOWN PORTLAND WHILE COLLECTING INCOME AND HEDGING THEIR OWN EXPENSES AGAINST A LONG TERM, RELIABLE TENANT THAT RELIES ON THIS LOCATION DUE TO THE PROXIMITY OF ITS PARENT TENANT, PORTLAND ART MUSEUM, DIRECTLY ACROSS THE STREET. Portland Art Museum and Canoe operate under NNN leases, while Harris & Tailor operates under a gross lease on a month to month term. It is important to note that the Portland Art Museum, being a not-for-profit entity, benefits from tax-exempt status for its leased space. Constructed in 2006, the Eliot Tower stands as an 18-story modern condominium high-rise that integrates retail and residential uses, featuring street-level retail complemented by 223 condominium homes above. This property boasts LEED certification, underscoring its commitment to sustainability. Strategically located in the heart of Portland’s Central Business District, the Eliot Tower enjoys exceptional walkability with a score of 99/100, a transit score of 95/100, and a bike score of 93/100, making it an attractive investment opportunity within a vibrant urban environment.

Market Context

This retail in Portland, OR is listed for sale at $1,099,000. Compare it against other retail listings for sale in Portland, OR — view the full market.

As of Q2 2026, the Portland retail market showed a 4.7% vacancy rate, and average asking rents near $23.78/SF/yr. Source: multiple brokerage reports, Q2 2026.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

Is the Portland retail market tightening or softening?
Vacancy is around 4.7% (Q2 2026).

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