Neville & Butler Commercial Real Estate
Commercial Real Estate
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Pearl Restaurant Building - For Sale

Pearl District Restaurant Building - For Sale

701 NW 13th Avenue, Portland, Oregon 97209 | NWC NW 13th & Irving | NW 13th Avenue Historic District


Space available:

  • 7,738 square foot retail condo unit

    • Right to divide unit [up to three units]

    • Parcel Number: R596055 Tax Lot: 1N 1E 33 AD 999002

  • Outdoor Seating: Includes covered platform deck [approx 825 SF] w/ roll-up doors

  • Parking: includes two deeded spaces

    • Located in Common Area Basement [access on NW Irving Street]

  • Current Use: Full-Service Restaurant

  • Restaurant Equipment Information: Available Upon Request

  • Zoning: EX (Central Employment) d (Design Overlay Zone)

    • Allows for a wide variety of industrial and commercial uses including retail and office

    • The Design Overlay Zone is triggered by its NW 13th Avenue Historic District location

Flyer Floor Plan


 

Property Overview

The Crane Company Building, one of the most architecturally distinguished buildings in the NW 13th Avenue Historic District, was built in 1909 and designed by prolific Oregon architect W.C. Knighton. Its original use was as a manufacturing facility, warehouse, and office building for the national plumbing valve & fittings company. Crane Co., the largest company in the world of its kind during its heyday, utilized the building as its Northwest hub until 1964, when it sold the property to another manufacturer.

In 2007, the property was purchased for historic redevelopment as residential, traditional office, and retail use as the Pearl District was fast-evolving. Now known as the Crane Lofts Condominiums, the building is a primary contributor to the NW 13th Avenue Historic District, featuring characteristic brick masonry construction, the original loading dock on the warehouse building (the subject property), overhead doors, metal awnings, original windows, and other distinguishing architectural features.

  • Located across from a 24 Hour Fitness full-service fitness facility

  • Located across from a proposed 10-story, 170,000 square foot hotel (banner tbd)

  • US Headquarters for Wacom located at Pearl West (NW 14th & Irving) [1 block west]

  • Located at the epicenter of the First Thursday Street Gallery


Trade Area Overview

The Pearl District, so-named by a gallery owner in the early 1980s for the rough warehouse exteriors that hid beautiful works of art within, is the area bound by the Willamette River to the north, West Burnside to the south (the Downtown/Central Business District neighborhood sits south of Burnside), NW Broadway to the east (the Oldtown/Chinatown neighborhood sits east of Broadway), and Interstate 405 to the west (the Northwest District neighborhood, which includes NW 23rd Avenue, sits west of I-405).

Over the past 25 years, the Pearl District has been reimagined from turn-of-the-century warehouses and abandoned railway yards to a dense, bustling upscale neighborhood with converted residential lofts, office and creative work space, and an abundance of eclectic food and retail establishments.

Pearl District Commercial Stats:

  • 1,078 Existing Businesses

    • 99 Food & Drink Establishments

Pearl District Business Association

Pearl District Residential Stats:

8,665 Units completed as of spring 2019

  • 5,166 Apartments

  • 3,499 Condominiums

  • 1,581 Residential Units planned/under construction

Demographics

0.25 Miles 0.5 Miles Pearl Dist
2018 Population: 4,746 18,150 8,228
2023 Projected Pop: 5,859 20,838 9,952
Avg Household Income: $120,140 $86,979 $113,718
Per Capita Income: $80,942 $57,999 $77,438
Households: 3,176 12,127 5,641
Median Age: 39.2 37.8 39.8
Daytime Pop - Workers: 6,754 30,307 17,082