SOLD 2022
AVALON THEATRE + SUNNYMONT APARTMENTS + PARADOX CAFE
3433-3451 SE BELMONT STREET • PORTLAND, OR
OPPORTUNITY
Built in 1912, The Avalon Theatre building is located at the corner of SE Belmont St + SE 35TH Ave. The 2-story building is a freestanding, Class C, unreinforced masonry construction with a combined 21,358 SF of GLA on this 13,504 SF (0.31 AC) lot. The Avalon Theatre building is zoned Commercial and is a beautiful Art Deco piece of Portland nostalgia. High visibility for Signage, 120’ of road frontage on SE 35th Ave, and 155’ of road frontage on SE Belmont. The basement level of the Avalon Theatre building holds mechanical storage, a boiler room, and personal storage units available for lease by the residential tenants. The Top floor of the building includes 17 studio apartments with 9' high ceilings, door buzzer & intercom system, large windows, art deco radiators, walk-in closets, and full kitchens. The Paradox Cafe has private basement access as well as two upgraded ADA-compliant restrooms.
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Building(s)…… 21,202 SF
Land……13,333 SF
Acres…… 0.31 AC
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NOI…… $201,796.90
List Price …… $3,250,000
CAP Rate ….. 6.20%
Leaseback ….. 3yrs
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SOLD…… Closed 2022
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