For Sale $2,450,000
Property Type Retail - Street Retail
Property Size 15,454 SF
Lot Size 12,339 Acre
Property Tenancy Multi-Tenant
Date Updated Apr 26, 2024

Norris & Stevens is pleased to present the sale of three tax lots totaling 12,339 square feet of land, and approximately 15,454 square feet of mixed-use space across two buildings in historic downtown Milwaukie, Oregon. Libbie's Restaurant has operated in the property for over 40 years, and includes six apartment units on the second floor. The Golden Nugget Bar operates in the adjacent building, and the third parcel is a surface parking lot.

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Highlights

Located on Main Street in charming historic downtown Milwaukie, Oregon
Two buildings with two bars that share one commercial kitchen located in Libbie’s restaurant
Total of 9 lottery machines in 2023 generating over $131,000
Long-term tenants in the 6 apartments with below-market rents
Businesses plus furniture, fixtures and equipment are included in the price of the real estate
Two liquor licenses, open 7 days a week
Full basement of approximately 4,760 square feet located under Libbie's restaurant
Basement has large walk-in cooler, shop area, storage, bakery room with abundant dry storage area, two commercial sinks, pizza oven, and a large office
Banquet room in back of Libbie’s restaurant
21 on-site parking spaces, including a handicap space, plus angle street parking

Contacts

Thomas McDowell

Norris & Stevens

(503) 225-8473

Location

Getting Around

Walk Score ®
83/100 Very Walkable
Transit Score ®
55/100 Good Transit
Bike Score ®
75/100 Very Bikeable

Map
Street

City Milwaukie, OR
Neighborhood Historic Milwaulkie
Zip Code 97222
Market Portland

Points of Interest

Milwaukie/Main Street

0.13 miles
Southeast Park Avenue

0.89 miles
Southeast Tacoma/Johnson Creek

1.38 miles
Willamette Shore Trolley Lake Oswego Station

1.98 miles
Southeast Bybee Boulevard

2.21 miles
Oaks Park

2.23 miles
Southeast 17th Avenue & Holgate Boulevard

3.33 miles
Southeast Fuller Road

3.34 miles
Clackamas Town Center Transit Center

3.58 miles
Bancroft Street

3.78 miles

Chevron

0.05 miles
76

0.07 miles
PGE Electric Avenue Milwaukie

0.12 miles
Tesla Destination Charger

0.14 miles
76

0.50 miles
Chevron

0.59 miles
Safeway Fuel Station

1.08 miles
Fred Meyer

1.30 miles
Chevron

1.47 miles
Shell

1.64 miles

Milwaukie Presbyterian Church

0.29 miles
Milwaukie

0.65 miles
SE Park Ave

0.97 miles
SE Tacoma/Johnson Creek

1.33 miles
Horse Parking

1.67 miles
Christ Church Parish

2.38 miles
West Parking

2.63 miles
East Parking

2.66 miles
North Parking

2.84 miles
Oaks Bottom Trail Head

2.99 miles

Libbie's

0.00 miles
Cha! Cha! Cha!

0.01 miles
Gramma's Corner Restaurant

0.10 miles
Milwaukie Station Food Cart Pod

0.14 miles
Rice Thai Cookery

0.20 miles
Casa de Tamales

0.22 miles
Pietro's

0.35 miles
Mike's Drive-In

0.50 miles
McDonald's

0.60 miles
Taco Bell

0.61 miles

Eagle Bargain

0.77 miles
Safeway

1.14 miles
New Seasons Market

1.58 miles
Fred Meyer

1.86 miles
Safeway

2.05 miles
Whole Foods Market

2.15 miles
QFC

2.33 miles
Walmart Neighborhood Market

2.36 miles
Grocery Outlet

2.51 miles
Zupan's

2.54 miles

Frequently Asked Questions

What is the lease rate for Restaurant Owner/User Opportunity with Apartments?

Rental asking rate at Restaurant Owner/User Opportunity with Apartments is $1,225,000.00/YR.

What is the total square footage of Restaurant Owner/User Opportunity with Apartments?

Restaurant Owner/User Opportunity with Apartments totals 15,454 square feet.

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