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Westlake Investment Opportunity 5 Properties Offered at $11,933,880 CAD in Lake Oswego, OR
Investment Highlights
- Five building commercial complex.
- Highly desirable Lake Oswego location.
- 2.6 WALT.
- Great mix of strong local retail and office tenants.
- 94.4% Occupied.
Executive Summary
Rare opportunity to purchase a commercial property complex located in the highly desirable Lake Oswego submarket. Lake Oswego boasts the highest incomes and home values in the metro area, as well as the most expensive suburban office rents. This 5-building commercial complex totals 30,080 SF on 2.6 acres, with five buildings (four are single-story and one is two-story). Ownership is in the process of getting roof replacement bids.
The complex is 94.4% leased, with one small 1,577 SF space available. There is 96 SF is an executive office space. Total project square footage per appraisal is 113,250 sf. The WALT for the property currently stands at 2.6 years. Outside 14523 Westlake Dr. (an executive suite building), tenant spaces range from 96 to 2,315 SF. Asking $8,400,000 ($279/SF) based upon a proforma 6.75% cap rate.
Westlake Village is a stable, mixed-use neighborhood center comprising five buildings in the heart of Lake Oswego's Westlake area, right next to I-5 and the Kruse Way/Centerpointe office campuses, which comprise a total of 2.4 million SF of office space. The center's tenants are a planned mix of two different types of businesses, office and retail, which together create a strong and diverse income stream.
The complex is 94.4% leased, with one small 1,577 SF space available. There is 96 SF is an executive office space. Total project square footage per appraisal is 113,250 sf. The WALT for the property currently stands at 2.6 years. Outside 14523 Westlake Dr. (an executive suite building), tenant spaces range from 96 to 2,315 SF. Asking $8,400,000 ($279/SF) based upon a proforma 6.75% cap rate.
Westlake Village is a stable, mixed-use neighborhood center comprising five buildings in the heart of Lake Oswego's Westlake area, right next to I-5 and the Kruse Way/Centerpointe office campuses, which comprise a total of 2.4 million SF of office space. The center's tenants are a planned mix of two different types of businesses, office and retail, which together create a strong and diverse income stream.
Property Facts
| Price | $11,933,880 CAD | Number of Properties | 5 |
| Price / SF | $389.41 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.75% | Total Building Size | 30,646 SF |
| Sale Type | Investment | Total Land Area | 13.04 AC |
| Status | Active |
| Price | $11,933,880 CAD |
| Price / SF | $389.41 CAD / SF |
| Cap Rate | 6.75% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 30,646 SF |
| Total Land Area | 13.04 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 14523 SW Westlake Dr, Lake Oswego, OR 97035 | Office | 8,544 SF | 1995 | - |
| 14511 SW Westlake Dr, Lake Oswego, OR 97035 | Office | 7,055 SF | 1995 | - |
| 14547 Westlake Dr, Lake Oswego, OR 97035 | Retail | 5,100 SF | 1995 | - |
| 14535 Westlake Dr, Lake Oswego, OR 97035 | Retail | 5,097 SF | 1995 | - |
| 14559 SW Westlake Dr, Lake Oswego, OR 97035 | Retail | 4,850 SF | 1995 | - |
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