WASHINGTON MASONIC BUILDING (CURRENTLY IMAGO …...WASHINGTON MASONIC BUILDING (CURRENTLY IMAGO THEATER) 1 SE t Av Portland OR 721 FOR SALE 900 SW 5th Avenue 17th Floor Portland, OR

WASHINGTON MASONIC BUILDING (CURRENTLY IMAGO THEATER)17 - 19 SE 8th Ave | Portland, OR 97214 FOR SALE

900 SW 5th Avenue • 17th Floor • Portland, OR 97204503.223.3171 • norris-stevens.com

Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.

INVESTMENT REAL ESTATE SERVICES


INVESTMENT REAL ESTATE SERVICES 04/30/2020

For more information or a property tour, please contact:

GREG [email protected]

GABE [email protected]

COMMERCIAL BUILDING FOR SALE

DETAILS• Price: $3,850,000• Building Size

Basement: ± 5,350 SF 1ST Floor: ± 5,300 SF 1ST Floor Mezzanine: ± 1,550 SF 2ND Floor: ± 5,300 SF 2ND Floor Mezzanine: ± 970 SF Total: ± 18,470 SF

• Parcel Size: ± 6,000 SF - North ± 7,500 SF - South

• Zoning: EXd - Central Employment • Year Built: 1922

POTENTIAL USES• Creative office, retail, performance venue

FEATURES• Opportunity zone• High visibility - located in Central Eastside • Excellent street exposure• Easy access to I-5, I-84/HWY 30 and HWY 26• Minutes from downtown Portland• Re-roofed in two phases: 2000 & 2003• Air conditioning, furnace and radiant heat

(see page 2 for configuration)







WASHINGTON MASONIC BUILDING17 - 19 SE 8th Ave | Portland, OR 97214 FOR SALE



(CURRENTLY IMAGO THEATER)

PROPERTY INFORMATION

OCCUPANCYOriginally constructed in 1922 as the Washington Masonic Building, it currently operates as the Imago Theater. This use includes show performances, construction of sets and costumes, and administrative offices. At the time the building was developed, it was recognized as “Class IV,” which by todays standards is coded as ILL-N. Originally listed as a “B-3” occupancy, this translates to an “A-3,” Assembly Occupancy in the current code. It has a maximum occupancy load of 300 in any room. The second floor mezzanine is classified as either “B” or “S-1” depending on the use and the basement is classified as both “F-1” and “S-1” occupancy.

BUILDING NOTES• First floor clear height 16’

• Second floor clear height 23’

• Potential redevelopment to include creative office or multi-family.

• Building features unique curb appeal with it’s brick facade and multi-pane windows on the east side.

• Completely re-roofed in two phases (2000 & 2003) by Snyder Roofing. New roof was a complete tear off. This featured 1/2” recover board, three plies and cap sheet metal including necessary sheet metal flashing, standing seam laps and coping metal.

• PBS documents show decommission and closure of UST located under the sidewalk and ACM abatement in 1993.

HVAC SYSTEM• First floor theater has two air conditioning units and two furnaces, both located in the

basement.

• The ballroom is served by one air conditioning unit located on the roof, while the furnace servicing this area is located in the attic.

• On the top floor, the third rail office and the foyer to the ballroom has a split system which is located on the roof.

• Basement is served with a furnace.

• The first floor lobby, the office above the ballroom stage and the restrooms have radiant heat.







WASHINGTON MASONIC BUILDING17 - 19 SE 8th Ave | Portland, OR 97214 FOR SALEPROPERTY PHOTOS














ZONING

The Washington Masonic Building is located in the EXd - Central Employment zone, which is the most flexible zone in the City of Portland. It also falls within the Central City Plan District, which allows 100’ height limit and 6 to 1 FAR (floor area ratio.) The EX Zone in the Central City is a high density, mixed use zone intended for corridors or where a wider variety of uses is sought in historically industrial areas. In this zone, buildings can be built up to the street lot line and may cover 100% of the lot. Development is intended to be pedestrian oriented with a strong emphasis on a safe and attractive streetscape.

The site is also located within the Central City 2035 Plan. The City has recently undergone a significant long-range planning effort, Central City 2035, which sets the framework for development over the next 15 years. Proposed comprehensive and zoning code changes may allow new development to utilize bonuses, transfers, or performance standards to achieve more building height and FAR (up to 175’.)











FLOOR PLANS

Brett Bayne 503.972.7280 [email protected]

All of the information contained herein was obtained either from the owner or other parties we consider reliable. We have no reason to doubt its accuracy, however we do not guarantee it.

1800 SW First Avenue, Suite 650 | Portland OR 97201 | WWW.MACADAMFORBES.COM | 503.227.2500

FOR SALE17 - 19 SE 8th Avenue

BASEMENT

HVAC SYSTEM• First floor theatre has two air conditioning units and two furnaces.

They are both located in the basement.• Ballroom is served with one air conditioning unit that is located on

the roof. The furnace that serves this area is located in the attic.• Top floor, the Third Rail Office and the foyer to ballroom has a split

system which is located on the roof.• Basement is served with a furnace.• First floor lobby, the office above the ballroom stage, and the

restrooms have radiant heat.

BASEMENT











FLOOR PLANS




FIRST FLOOR


FIRST FLOOR











FLOOR PLANS




SECOND FLOOR


Mezzanine

Second FloorSECOND FLOOR











FLOOR PLANS




SECOND FLOOR


Mezzanine

Second Floor

MEZZANINE











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The Central Eastside District is an eclectic mix of older warehouse and industrial buildings, coupled with historic structures being redeveloped for cre-ative office space. The hip, urban neighborhood features numerous local retailers and boutiques, breweries, coffee shops and eateries.

AMENITIES

DINING + NIGHTLIFE1. Cider Riot2. Voodoo Doughnuts Too3. Le Pigeon4. Noble Rot5. Sizzle Pie6. Nong’s Khao Man Gai7. Thai Champa8. Basecamp Brewing Company9. Mt. Tabor Brewing10. Olympia Provisions11. Doug Fir Lounge

RETAIL1. Portland Rock Gym2. evo Portland3. New Seasons Market4. Food Fight! Grocery5. Sheridan’s Market6. Office Depot

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WASHINGTON MASONIC BUILDING (CURRENTLY IMAGO …...WASHINGTON MASONIC BUILDING (CURRENTLY IMAGO THEATER) 1 SE t Av Portland OR 721 FOR SALE 900 SW 5th Avenue 17th Floor Portland, OR