11301 Island Ave
Island City, OR 97850
Retail Property For Sale

Northmarq is pleased to present the opportunity to acquire Shops at Island City, a Grocery Outlet anchored retail center located in Island City, Oregon, immediately adjacent to La Grande. The Property is anchored by a high performing Grocery Outlet Bargain Market, which serves as the only location within a 40-mile radius, positioning it as the primary discount grocer for the broader regional trade area. In addition, the offering includes ±1.77 acres of IC-C1 zoned surplus land directly north of Grocery Outlet with frontage along Island Avenue, included at no allocated basis and offering meaningful new development potential.
The Grocery Outlet building was constructed in 2007 and is secured by a long-term lease through May 31, 2033, providing stable and predictable cash flow. The anchor drives consistent consumer traffic and serves as the economic foundation of the Property. Grocery Outlet’s in-place rent of $13.85/SF NNN sits below market, supporting strong rent coverage and embedded upside at renewal or option exercise. The Offering also includes a second building constructed in 2013, occupied by Grande Ronde Hospital Urgent Care and Family Resource Home Care. The healthcare tenancy adds daily traffic and further diversifies the rent roll.
Situated on ±4.6 acres with frontage along Island Avenue (Wallowa Lake Highway) and Walton Road, the Property benefits from combined traffic counts exceeding 22,000 vehicles per day and excellent accessibility.