575 Main Ave, Tillamook, OR 97141
1,920 SF | Retail Building | Tillamook, OR 97141 | $795,000 ($414/SF) | 9.50% Cap Rate
For Sale
Active
Asking Price $795,000
- Property Type
-
Retail
- Square Feet
- 1,920 SF
- Price / Square Foot
- $414
Listing Contacts
- Property Info
Property Overview
Sale Leaseback with Oregon's largest cannabis retailer. 47+ locations including California and Ohio. New 10-year lease at closing with 2% annual rate increases. Five 5-year options. Prominent Hwy frontage on US 101 in the heart of Tillamook. Tillamook County has over 28,000 residents and the City of Tillamook provides retail services to the surrounding areas. This Nectar location is just south of McDonalds and the Tillamook Creamery, the largest employer in the county. The two major grocery retailers in Tillamook County, Fred Meyer and Safeway, are both located in the City of Tillamook. Nectar is conveniently located between these two stores. The primary access route from the Portland Metro area to Tillamook is via Hwy 6. Nectar is the first dispensary after Hwy 6 traffic merges north on Hwy 101. Nectar is using sale leaseback transactions to free up capital to fund their continued growth.
Property Details
- Class
- C
- Year Built
- 1973
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 11,761 SF
Highlights
- Located in the heart of Tillamook on Hwy 101
- Renovated in 2016
- Large, paved parking area
- Close to McDonalds, Fred Meyer and Safeway
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