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Some people say that an indication of a good retail district is a high number of pedestrians and cyclists milling about.

If that’s true, the building at 2876-2886 S.E. Gladstone St. would be a good bet for a retailer. The 6,358-square-foot, mixed-use building is for sale for an asking price of $887,000. The owner is considering proposals.

While not in the bustling Southeast Portland communities of Belmont or Hawthorne, the building is nestled in a quieter neighborhood north of Reed College 鈥� a school known for its progressive, freethinking, anti-car students.

鈥淚’ve sat out there at times just to see what the place is like, and what I notice is that there are people walking and riding bicycles around the neighborhood, and I think that’s a great sign,鈥� said broker Will Stone of Marcus & Millichap.

The building has functioned as retail and apartment space since it was constructed in 1916. Today, the building is fully leased. Restaurants occupy the three ground-floor retail spaces, and two apartments are on the second floor. The property’s net operating income is $77,938.

鈥淚t’s what Portland retail is all about,鈥� Stone said.

In the one retail space is Yoko’s Japanese Restaurant, and occupying the two others is C Bar, the self-proclaimed 鈥渕ost copacetic neighborhood cocktail lounge on Portland’s lower east side.鈥� The tenants have made numerous improvements to the property, Stone said.

The owners, the J.W.S. Gladstone and C.K.S. Gladstone LLCs, have owned the property for almost a decade. The property went on the market three months ago, Stone said.

For details on purchasing this property, contact Stone at 503-200-2025 or [email protected].听

Block by Block is a weekly look at commercial real estate around Portland. Send suggestions for properties to [email protected].