9639 Se FOSTER Rd, Portland, OR 97266

Property 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.

Listing Status:

Active

Date Added:

March 16, 2026

Data Last Updated:

April 18, 2026 at 4:41AM

Listing Office:

Real Broker : 855-450-0442

Listing Agent:

Lisa Mehlhoff : 503-490-4888

MLS ID:

641160883

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: CM3SECTION 16 1S 2ETL 600 0.25 ACRESR335773

Utilities

• Utilities: Sewer connectedWater connected

Financial

• Source: Regional Multiple Listing ServiceInc.