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402 N State St 9,163 SF 100% Leased Retail Building Lake Oswego, OR 97034 $4,885,720 CAD ($533.20 CAD/SF) 5.71% Cap Rate
INVESTMENT HIGHLIGHTS
- GENERATIONAL PROPERTY - The Rogers Building has not sold for more than 50 years.
- LONG TERM TENANTS (100% LEASED) - All tenants have been at the property for a number of years, 4 of them for more than 10 years.
- EXCELLENT VALUE ADD - The existing short-term leases will allow a new owner to increase income by marking rents to market, or incorporating NNN leases
- GREAT EXPOSURE - The Rogers Building is ideally located at the entrance to downtown Lake Oswego, Portland’s most affluent suburb.
- SHORT TERM LEASES - Short leases enable owner-user investment or property redevelopment potential.
- OUTSTANDING DEMOGRAPHICS - 87,166 residents within 3-miles of the property with an average household income of $128,701.
EXECUTIVE SUMMARY
CALL FOR OFFERS: NOVEMBER 14th, 2025
The Rogers Building is a multi-tenant retail property ideally located at the strategic entrance to downtown Lake Oswego, Oregon’s most affluent suburb. The building is truly a “Generational Asset” since it is the first time on the market in over 50 years.
The property is 100% leased to 5 tenants, 4 of whom have been at the center for more than 10 years. All of the tenants are on short-term leases which will give a new owner the opportunity to potentially occupy space as an Owner/User, or look to increase income in the short term by marking rents to market.
The Rogers Building is surrounded by numerous high-end retail tenants, restaurants, a Safeway market and the Lake Oswego City Hall. The outstanding location on the NW corner of State Street and A Avenue features a daily traffic count of 19,000+ vehicles and a Walk Score of 90 (Walker’s Paradise).
The Rogers Building is a multi-tenant retail property ideally located at the strategic entrance to downtown Lake Oswego, Oregon’s most affluent suburb. The building is truly a “Generational Asset” since it is the first time on the market in over 50 years.
The property is 100% leased to 5 tenants, 4 of whom have been at the center for more than 10 years. All of the tenants are on short-term leases which will give a new owner the opportunity to potentially occupy space as an Owner/User, or look to increase income in the short term by marking rents to market.
The Rogers Building is surrounded by numerous high-end retail tenants, restaurants, a Safeway market and the Lake Oswego City Hall. The outstanding location on the NW corner of State Street and A Avenue features a daily traffic count of 19,000+ vehicles and a Walk Score of 90 (Walker’s Paradise).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
9,163 SF
Building Class
C
Year Built
1925
Price
$4,885,720 CAD
Price Per SF
$533.20 CAD
Cap Rate
5.71%
NOI
$278,975 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Zoning
DD
Frontage
AMENITIES
- Signage
- Signalized Intersection
- Wheelchair Accessible
Walk Score®
Walker's Paradise (90)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00198440 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,237,348 CAD |
PROPERTY TAXES
Parcel Number
00198440
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,237,348 CAD
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402 N State St
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