Get your Foster real estate while it’s hot. Or lose your chance altogether once the Streetscape Plan starts taking shape in a year (or two, or who knows how long).
Two buildings on Foster are for sale, one of which is back on the market with a 50% markup after being sold just four months ago. According to LoopNet, the former Decorette Shop building at 5338 SE Foster is again being sold. With an asking price of $725,000, that would be 50% more than than what the building sold for in June ($500k), as per PortlandMaps.
Who ever knew Foster would fetch that kind of return for commercial property? Smarter people than us, apparently.
If you can’t pull together a cool three-quarters-of-a-million, rest assured, the property can also be yours by lease, too. Here’s more info.
Further east, just past Buck’s Stove Palace, sits another building for sale. While we’ve yet to find an online listing for the property at 6819 SE Foster, we can’t deny the fact that a “for sale” sign does indeed sit in front of the somewhat inconspicuous building that (according to a quick Google search) may or may not be the home of Antonov Insurance. For those wondering if the value is in the land or building, it should be noted that the property behind the building (at 6802 SE Long) is a vacant lot and listed on PortlandMaps with the same (partial) owner. With the “Heart of Foster” just a couple blocks west, and the trio of I Heart Retro, SMART Collective, and a new taproom-to-be just a block east, this could be a prime location for a new business or development.