13100 Mcloughlin Blvd, Milwaukie, OR 97222
2 Retail Properties Offered at $1,610,000 in Milwaukie, OR
Asking Price $1,610,000
- Property Type
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Retail
Listing Contacts
- Property Info
Property Overview
Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in a single-tenant net-leased office facility located in Milwaukie, Oregon (the “Property”).
The Property consists of 0.57 acres and two one-story, office buildings totaling 5,508 square feet that were built in 1979 and have been occupied by H&R Block since construction. The Property is located with frontage along Hwy 99E (25,800 VPD) in the growing Milwaukie market, a suburb just East of Portland, which is known as a business-friendly alternative to Multnomah County. There are approximately 306,105 in population in a five-mile radius with an average household income in excess of $130,825 annually.
H&R Block has successfully operated at the Property for nearly 50 years and earlier this year, installed two new HVAC units and a gas furnace on their Advisors Building that cost the tenant in excess of $28,000. Further highlighting H&R Block’s commitment to the site, the tenant recently triggered an early 3-year extension on their South Building. The lease form is a standard “BOMA” lease that is guaranteed by H&R Block, Inc.
H&R Block (NYSE: HRB) is the leading tax preparation company in the world with 12,000 retail tax offices staffed by tax professionals worldwide. This publicly traded company is number 828 on the Fortune 500. As of March 31, 2024, H&R Block generated over $2,185,000,000 in revenue, which was a 4.36% increase from the previous year.
The Property consists of 0.57 acres and two one-story, office buildings totaling 5,508 square feet that were built in 1979 and have been occupied by H&R Block since construction. The Property is located with frontage along Hwy 99E (25,800 VPD) in the growing Milwaukie market, a suburb just East of Portland, which is known as a business-friendly alternative to Multnomah County. There are approximately 306,105 in population in a five-mile radius with an average household income in excess of $130,825 annually.
H&R Block has successfully operated at the Property for nearly 50 years and earlier this year, installed two new HVAC units and a gas furnace on their Advisors Building that cost the tenant in excess of $28,000. Further highlighting H&R Block’s commitment to the site, the tenant recently triggered an early 3-year extension on their South Building. The lease form is a standard “BOMA” lease that is guaranteed by H&R Block, Inc.
H&R Block (NYSE: HRB) is the leading tax preparation company in the world with 12,000 retail tax offices staffed by tax professionals worldwide. This publicly traded company is number 828 on the Fortune 500. As of March 31, 2024, H&R Block generated over $2,185,000,000 in revenue, which was a 4.36% increase from the previous year.
Highlights
- High income area with an average household income of $130K in a 5 mile radius
- Single-tenant NNN H&R Block with high historical occupancy since 1979
- H&R Block just signed early 3-year lease extension
- Recently installed new HVAC units and new gas furnace with Tenant contributions in excess of $28K
- The Properties are located on McLoughlin Blvd, a prominent retail arterial, with heavy automobile traf?c
- Additional billboard income - the billboard is leased by OUTFRONT Media, currently on a 10-year term expiring December 2026
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