NW 23rd Avenue
Description
A Dynamic High Street With Retail Excellence
NW 23rd Avenue, known by natives as the "Alphabet District," has staked its status as one of Portland’s go-to shopping and culinary meccas. This storied street intertwines upscale brands with local character, creating a compelling experience for its diverse clientele. Historically a residential avenue for Portland’s elite, it has evolved into a vibrant retail corridor that is home to a mix of global flagships like Cotopaxi, Faherty, and Arc'teryx alongside beloved local boutiques and dining spots. Credo Beauty is expected to open in 2025, further elevating the the street's allure.
The NW 23rd Street Experience
From the outdoor-inspired designs
Acclaimed Cuban restaurant and cocktail bar, Palomar, has officially reopened at 1422 NW 23rd Avenue after relocating from its former SE Division Street location.
The new Northwest 23rd Avenue location places Palomar in a high-foot-traffic district, aligning with Gomez’s vision of being at the heart of a vibrant neighborhood. The new space offers an upgraded kitchen and expanded bar, enhancing the restaurant’s acclaimed food and cocktail program.
This move solidifies Palomar’s position in one of Portland’s most dynamic retail and dining corridors, attracting both residents and visitors
Popular Cuban-themed restaurant/bar to relocate to Portland, Oregon's NW 23rd Ave.
King Living is opening on NW 23rd Street
Local Expert Analysis
Market Positioning and Tenant Mix
NW 23rd is frequently ranked among the region’s top high streets. Its tenant mix is of brands: flagship stores from major players like Marine Layer, Levi’s, and Pottery Barn sit alongside niche offerings such as Gorjana and Aēsop. For many brands, NW 23rd serves as their flagship or first location in Portland.
Financial Metrics
Retail rents range from $50 to $75 per square foot, with a vacancy rate below 5%, reflecting the street’s high demand and stability. These figures make NW 23rd an attractive investment for brands looking to establish a lasting presence in the Portland market. The street has a robust leasing activity, fueled by its reputation and st
New Developments
The ongoing redevelopment of the Uptown Shopping Center is set to inject new energy into NW 23rd, providing fresh leasing opportunities and further diversifying its tenant mix. These developments signal continued growth and innovation.