Listed by CBRE - Portland, CBRE - Orange County
$3,900,000
Car Toys
Details
APN 1S136CD-01800
Property Type Retail
Square Footage 5,864
Units 25
Cap Rate 5.85%
NOI $228,110
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 01/31/2027
Price per SqFt $665
Year Built 1997
Year Renovated 2026
Buildings 1
Acreage 0.410
Zoning C-G
Parking Spaces 25 spaces
Parking per 1,000 SqFt 4.26
Investment Type Net Lease
Lease Commencement 12/01/1997
Ground Lease No
Retail | 5.85% CAP | 5,864 SqFt
Marketing description
Car Toys is strategically positioned along the high-traffic Pacific Highway (±48,800 CPD) retail corridor in Tigard, a primary shopping destination in the southwest Portland metro area. The site sits within a busy retail strip surrounded by established shopping centers and major retailers that generate strong, consistent consumer traffic to the trade area.
The property benefits from an excellent mix of synergistic national and regional tenants, including Fred Meyer, Costco, Petco, Starbucks, and other popular retailers and restaurants nearby. This creates significant cross-shopping opportunities and a daily customer flow.
Car Toys enjoys excellent visibility and direct access off SW Pacific Highway, a major north-south arterial with high daily traffic volumes. The location offers superior convenience with quick access to I-5 and Highway 217, serving both local Tigard residents and regional shoppers from across the Portland metro area.
Investment highlights
- Long-Term Operator, Regional Brand – 100% leased to Car Toys, a leading and well-established specialty retailer in the automotive aftermarket industry. Founded in 1987, Car Toys has grown into one of the largest independent car audio, vehicle security, navigation, and accessory retailers in the Pacific Northwest. The Car Toys brand currently has 34 stores in 4 states (WA, OR, CO and TX), owned and operated by 4 companies all with common brand licenses
- Car Toys lease expires in January 2027, with one additional 5-year renewal option and a second 5 year renewal option in discussion. This near-term lease expiration provides investors excellent flexibility and future upside, including the opportunity to renegotiate with the existing tenant, re-tenant the space at current market rates, or a future owner-user opportunity
- Below Market Rent – Car Toys rent is well below market levels, approximately 20%, producing low tenant occupancy costs and future mark-to-market rent potential at lease expiration
- Well Replacement Cost Opportunity – At the current list price, Car Toys will trade at a meaningful discount to its estimated land-inclusive replacement cost, creating an attractive entry point with significant built-in equity and a strong margin of safety
- Dominant Retail Hub Location – Car Toys is strategically positioned along the high-traffic Pacific Highway (±48,800 CPD) retail corridor in Tigard, a primary shopping destination in the southwest Portland metro area. The site sits within a busy retail strip surrounded by established shopping centers and major retailers that generate strong, consistent consumer traffic to the trade area
- Complimentary Surrounding Tenants – The property benefits from an excellent mix of synergistic national and regional tenants, including Fred Meyer, Costco, Petco, Starbucks, and other popular retailers and restaurants nearby. This creates significant cross-shopping opportunities and a daily customer flow
- Costco: Ranked in the 98th percentile for in-store visits nationwide and 95th percentile in Oregon (placer.ai)
- AutoZone: Ranked in the 97th percentile for in-store visits nationwide and 97th percentile in Oregon (placer.ai)
- Winco Foods: Ranked in the 86th percentile for in-store visits nationwide and 88th percentile in Oregon (placer.ai)
- High Traffic, Convenient Location – Car Toys enjoys excellent visibility and direct access off SW Pacific Highway, a major north-south arterial with high daily traffic volumes. The location offers superior convenience with quick access to I-5 and Highway 217, serving both local Tigard residents and regional shoppers from across the Portland metro area
- Limited Future Competition – This is a supply-constrained, densely populated infill trade area along a mature retail corridor with limited sites available for new development. These high barriers to entry help protect the long-term stability and growth potential of the location
- More than 12,800 people in a 1-mile radius, with an Average Household Income exceeding $108,000
- More than 124,000 people in a 3-mile radius, with an Average Household Income exceeding $148,900
- More than 316,800 people in a 5-mile radius, with an Average Household Income exceeding $158,700
- Excellent 1031 Upleg Opportunity – Available for a quick close to accommodate 1031 Exchange timelines
- Debt Free Asset – Car Toys will be delivered free and clear of existing financing, which provides investors the ability to customize debt to achieve optimal returns
Listing Contacts
Listed by CBRE - Portland, CBRE - Orange County
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$228,110.00
$19,009.17/mo
Valuation Metrics
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DSCR
5.85%
Cap Rate
5.85%
ROI
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