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A popular neighborhood hangout in Portland’s Northwest Alphabet District is for sale.

21st Avenue Bar & Grill, at 721 N.W. 21st Ave., is one of several restaurants in the heavy retail area. It serves pub fare and includes a bar, a dining area and a large, outdoor patio. The listed price for the 2,900-square-foot building is $950,000.

The building is being sold by the restaurant’s owners, Matt Cordova and Ray Lee, who bought the building in 2006 after operating in it since 1998. They’re selling because of a lack of cash flow 鈥� in the current market, they can’t attain the equity for the building they would like, Cordova said.

The building, constructed in 1914, has been home to other restaurants, bars and even a barbershop. At one time, the building had separate spaces, Cordova said.

The space also has a connection to the Portland ’80s rock band Quarterflash. The previous owner, Jack Koberstein, had a restaurant there called Seafood Mama, which was also the name of one of the groups that later formed Quarterflash. The name came from an innuendo in a song by Fats Keller called 鈥淗old Tight (Want Some Seafood, Mama).鈥�

The band Seafood Mama 鈥� Marv and Rindy Ross 鈥� actually played a block away from the restaurant, and they too got their inspiration for the name from the Fats Keller song. The band never played in the restaurant, but members and the owners shared a rapport over the name.

The owners today are willing to commit to a sale and leaseback for $5,700 a month, but that’s negotiable. They also would entertain offers for a package deal for both the restaurant business and the building, Cordova said.

The space includes a full bar and a kitchen, but the back of the building, with the outdoor patio, is 鈥渢he reason we’re open in the summer,鈥� Cordova said. It includes seating and a sizable garden.

For details on purchasing the 21st Avenue Bar & Grill building, contact broker Josh Schweitz with Kidder Mathews at 503-221-2297 or [email protected].听