The property housing the Acropolis, a well-known steakhouse and adult entertainment venue in Southeast Portland, has been placed on the market for $1.95 million. The listing raises questions about the future of the long-standing establishment located on a major city thoroughfare.
Key Takeaways
- The property at Southeast McLoughlin Boulevard is listed for $1,950,000.
- The sale includes the 7,778-square-foot building, two parking lots, and a total of 0.89 acres of land.
- The future of the Acropolis business itself remains unconfirmed, as it is unclear if it will close or relocate.
- The commercial listing highlights the site as a significant development opportunity due to its prime location and highway frontage.
Property Details Emerge on Commercial Market
A new listing on the commercial real estate platform LoopNet has confirmed that the property of the Acropolis is officially for sale. The offering encompasses three tax lots that combine for a total of 0.89 acres along Highway 99.
The centerpiece of the sale is the two-story building, originally constructed in 1947, which spans 7,778 square feet. The property also includes two dedicated parking lots with a capacity for 40 vehicles.
By the Numbers: The Acropolis Property
- Asking Price: $1,950,000
- Total Land Area: 0.89 acres (38,757 sq ft)
- Building Size: 7,778 sq ft
- Year Built: 1947
- Highway Frontage: 271 feet
- Restaurant Capacity: 152 people
The listing materials describe the site as a “rare real estate development and/or business opportunity.” Its position on Southeast McLoughlin Boulevard, a high-traffic highway, offers significant visibility and exposure for any future enterprise.
A Portland Fixture with a Recognizable Presence
For decades, the Acropolis has been a recognizable landmark for commuters and residents in Southeast Portland. A unique feature highlighted in the sale is its large, distinctive business sign.
According to the listing, the sign is “grandfathered in,” meaning it is permitted to remain as long as it is not removed. Such signs are often subject to stricter modern zoning codes, making this a valuable asset for a potential new owner.
The Value of a Grandfathered Sign
In many cities, zoning laws have evolved to restrict the size and type of commercial signage. A "grandfathered" sign, one that existed before current regulations were enacted, is often allowed to remain. This can provide a significant marketing advantage due to its size and visibility, which might not be permitted for a new construction.
The property’s location is further defined by Johnson Creek, which runs along its western edge. This combination of highway frontage and a natural boundary makes the parcel unique in the close-in Southeast Portland area.
Future of the Business Remains Unclear
While the property is actively being marketed, the operational future of the Acropolis itself is not yet known. The sale of a commercial property does not automatically mean the business operating within it will close.
There are several possibilities: a new owner could continue leasing to the current business, the Acropolis could relocate, or the business could cease operations upon the sale. At this time, representatives for the Acropolis have not publicly commented on their plans moving forward.
The listing's focus on development suggests that potential buyers may be looking at the land's intrinsic value rather than the existing business. The significant lot size and prime frontage on a major arterial road make it an attractive candidate for redevelopment into a new commercial or mixed-use project, pending zoning approvals.
For now, the Portland community watches to see what the next chapter holds for this familiar property on McLoughlin Boulevard.
