Walgreens
13,300 SF | Retail Building | Portland, OR 97219 | $7,880,000 ($592/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,880,000
- Property Type
-
Retail
- Square Feet
- 13,300 SF
- Price / Square Foot
- $592
Listing Contacts
Kevin Adatto
Verified Profile
Sean Tufts
Verified Profile
Joe Dugoni
Verified Profile
- Property Info
Property Overview
The offering presents the opportunity to acquire an absolute NNN Walgreens in Portland’s densely populated and af?uent Ash Creek neighborhood. Constructed in 2012, the building is 13,300 SF situated on 36,162 SF of commercially zoned land. The current lease runs through December 31, 2037, with options for termination after that. If not terminated, the lease will extend through 12/31/2087. The Property is situated on a hard corner at the con?uence of two main retail thoroughfares of Barbur Blvd (Capitol Highway) and Interstate 5, with approximately 121,000+ VPD. Barbur Blvd is a dense retail corridor with high barriers to entry sandwiched between several upscale residential neighborhoods with incomes exceeding $135K.
Property Details
- Class
- B
- Year Built
- 2012
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 36,155 SF
Highlights
- Walgreens is fully responsible for the upkeep of the roof, structure, and parking, allowing for no landlord responsibilities
- Barbur Blvd is the only commercially zoned land within the surrounding area, limiting the threat of future competition
- Located at the intersection of Capitol Highway and Interstate 5 with convenient access to multiple transportation networks
- There are 330k+ people within a 5-mile radius with average household incomes exceeding $142k+
- The Property has multiple ingress & egress points and is situated on a .83-acre lot with CM2 zoning which allows for several potential redevelopments
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].