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Previous Description:
CM3 Development Opportunity | 10,722 SF Mixed-Use Site on Foster Corridor. Investor and developer opportunity in Portland’s Foster Corridor and Lents Town Center district. This 10,722 sq ft property is zoned CM3 – Commercial Mixed Use offers potential for multifamily or mixed-use development along one of Southeast Portland’s designated urban corridors. The lot size could potentially support a 20–28 unit apartment or mixed-use project with potential for ground-floor retail, live/work space, or neighborhood commercial uses with residential units above (buyer to verify development capacity and permitted uses). CM3 zoning allows a wide range of uses including multifamily housing, apartments, commercial services, office space, and mixed-use residential projects, creating flexibility for builders and investors seeking long-term redevelopment potential.Located minutes from Lents Town Center, the MAX Green Line station, and I-205, the property benefits from easy connectivity due to proximity transit lines and I-205. The Foster corridor has seen streets improvements, pedestrian upgrades, and new mixed-use housing projects that continue to bring activity and redevelopment to the neighborhood. Future residents would be close to Springwater Corridor Trail, Mt. Scott Community Center, neighborhood parks, and local dining, while remaining connected to downtown Portland. Development opportunities with CM3 zoning and over 10,000 sq ft of land are increasingly rare along the Foster corridor, making this a an opportunity for developers and investors looking to participate in Portland’s next phase of corridor housing and mixed-use growth.Buyer to perform due diligence regarding zoning and development. Call for short term seller financing options.
Updated Description:
SELLER FINANCING AVAILABLE | 10,722 SF CM3 DEVELOPMENT SITEInvestor and developer opportunity along Portland’s Foster Road corridor near Lents Town Center, the MAX Green Line and I-205. Offered at $295,000—approximately $27.51 per square foot of land—this 10,722-square-foot site is zoned CM3 Commercial Mixed Use, providing flexibility for a range of residential and commercial development concepts.Preliminary concepts suggest the site could potentially support a 20–28-unit apartment or mixed-use project, with possibilities including multifamily housing, ground-floor retail, live/work space, offices, commercial services or neighborhood commercial uses with residential units above. Development capacity, permitted uses and City approvals are subject to buyer verification.The location offers convenient access to transit, major transportation routes and downtown Portland. Future residents could enjoy proximity to the Springwater Corridor Trail, Mt. Scott Community Center, neighborhood parks, dining and services. Continued street, pedestrian and mixed-use improvements along the Foster corridor add to the property’s long-term redevelopment potential. The seller will consider short-term financing for a qualified buyer, creating an opportunity to control the property while completing due diligence, design and entitlement work. Buyer to perform independent due diligence regarding zoning, utilities, development capacity and permitted uses. Contact the agent for property information and proposed seller-financing terms.
