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Listed by:Kidder Mathews • Kevin G. Verger
$2,680,000
Est. payment /mo
0.52 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Oregon
MLS Listing ID 2504602
Style 75 - Retail
Year Built 2016
Lot Size 0.521 Acres
Property Sub-Type Commercial Industrial
Property Description
Acquire a 100% occupied NNN two-tenant retail investment located in the affluent and rapidly growing community of Happy Valley, Oregon. Since construction in 2016, the property has experienced zero tenant turnover. Both MOD Pizza and Embold Credit Union recently demonstrated their long-term commitment to the location through 10-year and 5-year lease extensions, respectively, each with renewal options and 2-3% annual rent increases, providing investors with durable income growth. The property benefits from a highly visible hard-corner location along a prominent retail corridor with daily traffic counts exceeding 29,000+ VPD. The site sits adjacent to a Safeway-anchored shopping center and in close proximity to Clackamas Town Center, one of the Portland metropolitan area's dominant regional retail destinations. Located in one of the Portland metro's most desirable suburban communities, the offering provides investors the opportunity to acquire a stable retail asset supported by strong demographics, continued residential growth, and long-term tenancy.
Location
State OR
County Clackamas
Area 2000 - Oregon
Interior
Flooring See Remarks
Fireplace false
Building
Sewer Available
Water See Remarks
Others
Senior Community No
Acceptable Financing See Remarks
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