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870 NW Eastman Pky
Gresham, OR 97030
America's Tire · Retail Property For Sale
·
7,351 SF
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 4.85% |
| Sale Type | Investment |
| Cap Rate | 4.85% |
Description
- Ground lease with brand new 10-year extension extending lease to 2035.
- Paying low ground rent at approximately 44% below current market rates.
- Corporate-operated Discount Tire (Halle Properties, LLC).
- Strong historical occupancy having operating at this location for 35+ years and operating in the 84% percentile of all Oregon locations.
- Scheduled 10% increase in 2030 increases yield an estimated 45 basis points in the next 4.5 years.
- Located within Gresham Town Fair, a 264K SF community shopping center which sees over 2.6M in annual visits and is anchored by Ross, Dick’s Sporting Goods, and PetSmart.
High-density residential trade area with 235,000+ residents within a 5-mile radius.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 15 | 7,351 SF | Retail | Upon Request | $95,073.61 CAD |
Unit 15
| Unit Size |
| 7,351 SF |
| Condo Use |
| Retail |
| Price |
| Upon Request |
| NOI |
| $95,073.61 CAD |
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Unit 15
| Unit Size | 7,351 SF |
| Condo Use | Retail |
| Price | Upon Request |
| NOI | $95,073.61 CAD |
| Sale Type | Investment |
| Cap Rate | 4.85% |
| Description | |
| <ul style="list-style: disc; padding: 0px 0px 0px 40px"><li> Ground lease with brand new 10-year extension extending lease to 2035.<br> </li><li> Paying low ground rent at approximately 44% below current market rates.<br> </li><li> Corporate-operated Discount Tire (Halle Properties, LLC).<br> </li><li> Strong historical occupancy having operating at this location for 35+ years and operating in the 84% percentile of all Oregon locations.<br> </li><li> Scheduled 10% increase in 2030 increases yield an estimated 45 basis points in the next 4.5 years.<br> </li><li> Located within Gresham Town Fair, a 264K SF community shopping center which sees over 2.6M in annual visits and is anchored by Ross, Dick’s Sporting Goods, and PetSmart.<br> High-density residential trade area with 235,000+ residents within a 5-mile radius.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 7,351 SF | Typical Floor Size | 7,351 SF |
| Property Type | Retail (Condo) | Year Built | 1987 |
| Property Subtype | Auto Repair | Tenancy | Single |
| Building Class | B | Parking Ratio | 10/1,000 SF |
| Floors | 1 | Opportunity Zone |
Yes
|
| Zoning | DC1 | ||
| Total Building Size | 7,351 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Auto Repair |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 7,351 SF |
| Year Built | 1987 |
| Tenancy | Single |
| Parking Ratio | 10/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | DC1 |
Amenities
- Signage
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Street View
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