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1520 SE Discovery Ln 5,100 SF 100% Leased 4-Star Retail Building Warrenton, OR 97146 $2,651,904 CAD ($519.98 CAD/SF) 6.35% Cap Rate
Executive Summary
• 100% occupied, four-tenant retail center leased to a diverse mix of retail and professional services tenants with recent lease extensions demonstrating long-term commitment to the site.
• Outparcel to the only Costco within a 75-mile radius, positioned within Warrenton’s primary retail hub
alongside Home Depot and a newer-construction Walmart, driving consistent daily traffic to the trade area.
• Assumable debt at a 4.00% fixed interest rate through 2029 available to qualified buyers, generating a 7%+ cash-on-cash return at the list price.
• The adjacent Costco, Walmart, & Home Depot locations combine for over 3.9M annual visits, ensuring strong nearby daily-needs traffic (per Placer.ai).
• Additional future upside available through conversion to NNN leases.
• High-quality 2015 construction with an extended roof warranty, located outside the 100-year flood plain, minimizing future capital expenditure risk.
• High barriers to entry with limited developable land in the immediate submarket, protecting long-term occupancy and rent growth.
• Trade area extends from Cannon Beach, OR to SW Washington — the nearest comparable retail cluster (Costco, Walmart, Fred Meyer, Home Depot) is located in Battle Ground, WA, 75 miles away.
• Warrenton was Clatsop County’s fastest-growing city over the last decade, with approximately 200 housing units currently under construction or awaiting approval.
• Outparcel to the only Costco within a 75-mile radius, positioned within Warrenton’s primary retail hub
alongside Home Depot and a newer-construction Walmart, driving consistent daily traffic to the trade area.
• Assumable debt at a 4.00% fixed interest rate through 2029 available to qualified buyers, generating a 7%+ cash-on-cash return at the list price.
• The adjacent Costco, Walmart, & Home Depot locations combine for over 3.9M annual visits, ensuring strong nearby daily-needs traffic (per Placer.ai).
• Additional future upside available through conversion to NNN leases.
• High-quality 2015 construction with an extended roof warranty, located outside the 100-year flood plain, minimizing future capital expenditure risk.
• High barriers to entry with limited developable land in the immediate submarket, protecting long-term occupancy and rent growth.
• Trade area extends from Cannon Beach, OR to SW Washington — the nearest comparable retail cluster (Costco, Walmart, Fred Meyer, Home Depot) is located in Battle Ground, WA, 75 miles away.
• Warrenton was Clatsop County’s fastest-growing city over the last decade, with approximately 200 housing units currently under construction or awaiting approval.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
5,100 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2015
Price
$2,651,904 CAD
Price Per SF
$519.98 CAD
Cap Rate
6.35%
NOI
$168,396 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.29
Lot Size
0.41 AC
Zoning
CC - Commercial Core
Parking
13 Spaces (2.55 Spaces per 1,000 SF Leased)
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 58972 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,327,734 CAD |
Property Taxes
Parcel Number
58972
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,327,734 CAD
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1520 SE Discovery Ln
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