Listed by Northmarq - Seattle, Northmarq
$1,410,000
Discount Tire
Details
Property Type Retail
Sub Type Auto Shop, Shopping Center
Square Footage 7,351
Cap Rate 4.84%
NOI $68,211
Occupancy 100%
Tenancy Single
Brand/Tenant discount tire
Lease Type Absolute NNN
Lease Expiration 09/30/2035
Remaining Term 9.2
Rent Bumps Yes
Lease Options 1; 5YR
Price per SqFt $192
Year Built 1990
Buildings 1
Zoning Downtown Mixed Use (DMU)
Investment Type Net Lease
Ground Lease Yes
Ownership Ground Lease
Retail | 4.84% CAP | 7,351 SqFt
Marketing description
Ground lease with brand new 10-year extension extending lease to 2035.
Paying low ground rent at approximately 44% below current market rates.
Corporate-operated Discount Tire (Halle Properties, LLC).
Strong historical occupancy having operating at this location for 35+ years and operating in the 84% percentile of all Oregon locations.
Scheduled 10% increase in 2030 increases yield an estimated 45 basis points in the next 4.5 years.
Located within Gresham Town Fair, a 264K SF community shopping center which sees over 2.6M in annual visits and is anchored by Ross, Dick’s Sporting Goods, and PetSmart.
High-density residential trade area with 235,000+ residents within a 5-mile radius.
Listing Contacts
Listed by Northmarq - Seattle, Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$68,211.00
$5,684.25/mo
Valuation Metrics
0
DSCR
4.84%
Cap Rate
4.84%
ROI
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