Gateway Multi-Tenant Retail Investment
Value-Add Retail/ commercial center totaling 24,426 SF
Marketing description
Outstanding Eastside investment opportunity: a 24,426 SF retail/service building with partial renovations in 2021 and 2025, CX zoning, 100% occupancy, and solid long-term tenants. The property offers stable income and potential to shift to higher-yield net leases - an ideal addition to a savvy investor’s portfolio.
Discover this Gateway Multi-Tenant Retail Investment, nestled in the vibrant city of Portland, Oregon. Situated in an area known for its intersection of major transportation routes, the location provides access to a myriad of amenities and attractions. Just moments away from the property, investors will find the Cascade Station shopping center, offering a diverse range of dining and retail options. Nearby, the Portland International Airport caters to seamless travel connections. The area is also home to numerous corporate offices, providing a compelling proposition for investors seeking a dynamic and well-connected location for their next venture.
Investment highlights
- Well established multi-tenant retail center leased to four tenants, three of which have been in-place for nine years or more.
- Tenants range in size from 4,500 SF to 7,500 SF and include Edelen Doors & Windows, Carpet Kingdom, Brazilian Top Team Striking & Grappling Academy, and Atomic Auto.
- Property includes 2,500 SF of grade level warehouse occupied rent-free by a general contractor acting in the capacity of caretaker.
- Under market gross leases provide the opportunity to add value over time by converting to net leases and increasing income.
- Easily accessible location in Portland's Gateway Neighborhood, blocks from the intersection of I-205, I-84, and the TriMet Light Rail Transit Station.
- Excellent drive-by exposure with 415' of frontage on NE 102nd Avenue and a traffic count of 10,316 cars per day average.
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