Property Description

Rare 0.91-acre (39,640 SF) commercial redevelopment opportunity on NE Halsey St in Wood Village, zoned NC (Neighborhood Commercial). Site includes approx. 2,160 SF of existing improvements (built 1941) with prior automotive-related use. Seller reports the property may be eligible for public redevelopment support: (1) the Wood Village Urban Renewal Agency, whose district was created for infrastructure, private investment incentives and redevelopment and may fund or cost-share demolition/abatement; and (2) Multnomah County CDBG funds - Wood Village is within the county's CDBG service area, and eligible uses can include demolition and non-residential rehabilitation that eliminate blight or urgent safety issues. Any funding is controlled by the city/county/agency and is not guaranteed. Seller also reports the property is located in a federal Opportunity Zone, which may allow deferral of capital gains and potential exclusion of appreciation on qualifying investments held 10+ years; consult your tax advisor. Buyer to verify zoning, permitted uses, building status with the City of Wood Village, environmental condition, and eligibility for any funding or tax incentive. Offered as-is. 1031 exchange.