Hertz Car Sales
28,297 SF | Retail Building | Gresham, OR 97080 | $6,575,000 ($232/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $6,575,000
- Property Type
-
Retail
- Square Feet
- 28,297 SF
- Price / Square Foot
- $232
Listing Contacts
Jim Lewis
Verified Profile
Brad Carnese
Verified Profile
- Property Info
Property Overview
1940 E Powell Blvd (along with neighboring 1990) represent the opportunity to acquire (together or separately) a well positioned, NNN investment automotive property with existing income and a variety of potential future uses or possible redevelopment options.
Located on extremely high visibility E Powell Blvd with ±15,698 average daily traffic count and ±615’ frontage on E Powell plus alternate access & visibility with ±525’ frontage on SE Hogan Drive.
This NNN investment property boasts a strong corporate tenant in The Hertz Corporation, currently paying over $32,000 / month and just recently optioning their first 5 year extension - through June 2028.
Recent updates include a new roof, new HVAC plus a lighted parking lot.
Positioned at the Northern tip of Mt Hood Neighborhood, firmly between closely neighboring Asert (to the west), Powell Valley (to the east) and City Central / Downtown (to the north), these twin properties boast a high traffic, high visibility location directly on E Powell Blvd / Highway 26 - the main arterial through the region and east side metro gateway to Sandy, Mt. Hood and beyond.
Conveniently located just 1/4 mile from intersecting NE / SE Burnside Road provides easy access to and from a variety of nearby retail centers such as: Powell Valley Junction, Gresham Village, Oregon Trail Shopping Center, Hood Shopping Center, Gresham Town Fair and Gresham Station - all between 0.2 and 1.5 miles away.
This dense city center location is ideal for existing retail uses or a dynamic new property redevelopment.
Located on extremely high visibility E Powell Blvd with ±15,698 average daily traffic count and ±615’ frontage on E Powell plus alternate access & visibility with ±525’ frontage on SE Hogan Drive.
This NNN investment property boasts a strong corporate tenant in The Hertz Corporation, currently paying over $32,000 / month and just recently optioning their first 5 year extension - through June 2028.
Recent updates include a new roof, new HVAC plus a lighted parking lot.
Positioned at the Northern tip of Mt Hood Neighborhood, firmly between closely neighboring Asert (to the west), Powell Valley (to the east) and City Central / Downtown (to the north), these twin properties boast a high traffic, high visibility location directly on E Powell Blvd / Highway 26 - the main arterial through the region and east side metro gateway to Sandy, Mt. Hood and beyond.
Conveniently located just 1/4 mile from intersecting NE / SE Burnside Road provides easy access to and from a variety of nearby retail centers such as: Powell Valley Junction, Gresham Village, Oregon Trail Shopping Center, Hood Shopping Center, Gresham Town Fair and Gresham Station - all between 0.2 and 1.5 miles away.
This dense city center location is ideal for existing retail uses or a dynamic new property redevelopment.
Property Details
- Class
- B
- Year Built/Renovated
- 1964/2018
- Stories
- 1
- Property Subtype
- Vehicle Related
- Lot Size (sq. ft)
- 193,406 SF
Highlights
- Net Leased Automotive Dealership Property on E Powell Blvd
- 4.44 Acre Lot with 28,297 SF Automotive Sales & Service Dealership
- High Traffic Location with ±15,698 Average Daily Traffic on E Powell @ 3rd Street
- Strong Corporate Tenant - Paying over $32k/Month NNN Thru June 2028
- Flexible 'MC' Zoning Allow for a Variety of Potential Redevelopment Uses
- Neighboring 4.62 Acre / 15,850 SF Automotive Property is also Available
Nearby Properties
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