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Mohawk Bldg 700-724 SW 3rd Ave 71,568 SF 100% Leased Office Building Portland, OR 97204 For Sale
Investment Highlights
- Nearly $1 million in recent capital improvements have been made, including upgrades to the roof, HVAC systems, boiler, and electrical infrastructure.
- This ±71,568 RSF mixed-use asset offers a rare investment opportunity in Portland’s Central Business District with office, retail, and parking.
- Listed as a local Historic Landmark and nominated for the National Register of Historic Places, the property sits within a designated Opportunity Zone
Executive Summary
The Mohawk Building is an approximately 71,568 rentable square foot mixed-use asset prominently located in the heart of the Portland Central Business District, across SW Third Avenue from the Pioneer Place regional mall and on the SW Morrison Street MAX light-rail line. The offering consists of two connected buildings, the four-story Mohawk
Building and the two-story Mohawk Gallery Building, plus subterranean parking underneath both structures. The asset is currently approximately 40% leased: CareOregon (±28,597 RSF through October 31, 2025) City Center Parking (leased parking area) The Mohawk Building has three floors of creative office space with the 3rd and 4th floors currently combined as one suite with an internal stairwell. The Mohawk Building’s approximately 14,263 RSF second floor is currently in shell condition following demolition and space preparation, awaiting tenant improvements. The unique 14,000+ RSF single floors, high ceilings and large windows overlooking SW 3rd Avenue and SW Morrison provide the opportunity for first-class creative space in the market. The Mohawk Gallery Building currently has two spaces that have unique architectural features and a view of the glass atrium between the suites. Purchaser may explore re-capturing the atrium space to consolidate into one suite that may deliver the most unique creative office opportunities in the CBD.
Building and the two-story Mohawk Gallery Building, plus subterranean parking underneath both structures. The asset is currently approximately 40% leased: CareOregon (±28,597 RSF through October 31, 2025) City Center Parking (leased parking area) The Mohawk Building has three floors of creative office space with the 3rd and 4th floors currently combined as one suite with an internal stairwell. The Mohawk Building’s approximately 14,263 RSF second floor is currently in shell condition following demolition and space preparation, awaiting tenant improvements. The unique 14,000+ RSF single floors, high ceilings and large windows overlooking SW 3rd Avenue and SW Morrison provide the opportunity for first-class creative space in the market. The Mohawk Gallery Building currently has two spaces that have unique architectural features and a view of the glass atrium between the suites. Purchaser may explore re-capturing the atrium space to consolidate into one suite that may deliver the most unique creative office opportunities in the CBD.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
71,568 SF
Building Class
B
Year Built
1902
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
17,892 SF
Building FAR
2.93
Lot Size
0.56 AC
Opportunity Zone
Yes
Zoning
CXd, Portland
Parking
90 Spaces (1.26 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Commuter Rail
- Food Service
- Metro/Subway
- Signage
1 1
Exceptionally walkable
100/100
Very drivable
80/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | R245981 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,488,550 |
Property Taxes
Parcel Number
R245981
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,488,550
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