Listed by Cushman & Wakefield - Portland, Oregon
$10,200,000
Chateau Mississippi - Premier Retail Center
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 20,000
Net Rentable (SqFt) 19,900
Occupancy 95%
Tenancy Multi
Lease Type NNN
Remaining Term 4.3
Pro-Forma Cap Rate 6.44%
Pro-Forma NOI $656,701
Class A
Year Built 2004
Buildings 1
Stories 2
Acreage 0.460
Zoning EXd (Central Employment - Design)
Investment Type Stabilized
Ground Lease No
100% Leased Retail Center on N Mississippi Ave | Portland, OR
Marketing description
Chateau Mississippi represents an opportunity to acquire the premier retail asset in the coveted Mississippi District on Portland’s eastside.
Located at the center of this vibrant shopping district, Chateau Mississippi includes 19,900 NRSF demised for 12 tenants. Unique property features include a festive plaza, which accommodates seasonal outdoor dining, and second floor balconies overlooking the streetscape.
The irreplaceable central location and distinctive features make this asset the top choice for tenants looking to locate on Mississippi Ave. Chateau Mississippi offers investors a multi-tenant, net leased asset with a diversified tenant base in a premier location providing stable, long-term investment income.
Investment highlights
- Net Leased Property with Diversified Tenants (95% Leased)
- Located in a Premier Portland Retail Neighborhood
- 6.44% Proforma Cap on $657k Proforma NOI
- Strong Tenants with Five (5) Recent Lease Renewals
- High Average Remaining Years of Lease (4 Years 3 Months)
- ±6,200 Average Daily Vehicle Traffic + abundant Foot Traffic
Listing Contacts
Listed by Cushman & Wakefield - Portland, Oregon
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