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2436 SE 12TH AVE
- YEAR BUILT: 1927
- SQUARE FOOTAGE: 13,568 (lot), 3,399 (warehouse)
- MARKET VALUE: $1.87 million
- OWNER: Skyhook Holdings LLC
- HOW LONG IT STOOD EMPTY: 3 years
- WHEN WE WROTE ABOUT IT: Oct. 26, 2022
WHY WE WROTE ABOUT IT: In some neighborhoods, it’s not especially surprising that a building might sit empty for a while. But this flatiron-shaped lot on the southwest edge of Ladd’s Addition in the Hosford-Abernethy neighborhood is surrounded by high-value residential property and thriving retail and commercial spaces. Variously a warehouse and machine shop, it mouldered after the 2020 death of its longtime owner, Russell Carter of Carter Machine & Tool Co., and was long vacant when we first wrote about it in October 2022. Carter’s daughter then told WW she intended to sell the property.
WHAT’S CHANGED: In April 2023, Skyhook Holdings LLC paid $2.51 million for the property, a hefty premium on the market value pegged by the county assessor. That’s perhaps a reflection of how desirable the neighborhood is and the potential traffic from Southeast Division Street. Skyhook converted the existing structure into a business called Skyhook Bouldering, which operates a 24/7 climbing gym and fitness facility. The gym opened in August 2024. Founder Cody Knope-Jenkins renovated the building with his team and says the reception from climbers has been gratifying after all the challenges of renovating a moribund property. “Securing insurance for a gym that’s open around the clock was an uphill battle,” he says. “We had to navigate multiple rejections and find a provider willing to understand our commitment to safety and the security measures we put in place.”