920 Wood Village Blvd, Wood Village, OR 97060
2,325 SF | Retail Building | Wood Village, OR 97060 | $3,125,000 ($1,344/SF) | 4.65% Cap Rate
For Sale
Active
Asking Price $3,125,000
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail
- Square Feet
- 2,325 SF
- Price / Square Foot
- $1,344
Listing Contacts
- Property Info
Property Overview
CIRE Partners is pleased to exclusively present for sale a brand new construction single-tenant net leased investment opportunity located at 920 NE Wood Village Boulevard in Wood Village, Oregon, which is a city in Multnomah County and within the greater Portland MSA. The subject property, occupied by Chipotle, is comprised of an approximately 2,325 square foot quick-service restaurant building featuring their signature “Chipotlane” drive-thru, an indoor dining area, outdoor patio seating, and is situated on an approximately 1.41 acre parcel of land.
This Chipotle property is store #36-4553 of approximately 3,400 in the entire Chipotle system. Chipotle operates under a 15 year corporate guaranteed lease, which includes fixed 7.5% rent increases every 5 years throughout the primary lease term and renewal option periods, providing for healthy yield growth and a hedge against inflation. The tenant has three (3) - five (5) year renewal options to extend the lease.
The subject property is strategically located as an outparcel/pad site to the Wood Village Town Center, which is an approximately 139,831 square foot institutional quality, grocery shadow-anchored, multi-tenant retail property with a strong tenant mix. The subject property benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, and limited fast food/quick-service restaurant competition.
The property is located in Multnomah County and approximately 15 miles east of Portland. Multnomah County is home to the Port of Portland and the most populous county in Oregon. Multnomah County boasts a diverse economy with strong sectors in technology, manufacturing, healthcare, and retail.
*Broker of Record: Congress Realty Inc., Lic.:200810066 (OR) & 200804165 (OR)
This Chipotle property is store #36-4553 of approximately 3,400 in the entire Chipotle system. Chipotle operates under a 15 year corporate guaranteed lease, which includes fixed 7.5% rent increases every 5 years throughout the primary lease term and renewal option periods, providing for healthy yield growth and a hedge against inflation. The tenant has three (3) - five (5) year renewal options to extend the lease.
The subject property is strategically located as an outparcel/pad site to the Wood Village Town Center, which is an approximately 139,831 square foot institutional quality, grocery shadow-anchored, multi-tenant retail property with a strong tenant mix. The subject property benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, and limited fast food/quick-service restaurant competition.
The property is located in Multnomah County and approximately 15 miles east of Portland. Multnomah County is home to the Port of Portland and the most populous county in Oregon. Multnomah County boasts a diverse economy with strong sectors in technology, manufacturing, healthcare, and retail.
*Broker of Record: Congress Realty Inc., Lic.:200810066 (OR) & 200804165 (OR)
Property Details
- Year Built
- 2023
- Stories
- 1
- Lot Size (sq. ft)
- 61,420 SF
Highlights
- Net Lease Provides a Passive Investment and Income
- Durable Cash Flow and Fixed Rent Increases
- Brand New Construction with Corporate Tenant
- E-Commerce and Recession-Resistant Tenant
- Strategic Location
- Great Access and Visibility
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].