Log In/Sign Up
Your email has been sent.
2-Tenant Retail Pad | Target & IKEA Outparcel 9687-9695 NE Cascades Pky 5,116 SF 100% Leased Retail Building Portland, OR 97220 $3,096,151 CAD ($605.19 CAD/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully Leased Two-Tenant Retail Property | Leasehold Interest Corporate-Backed Tenants | Recent Extensions | Strong Sales
- Strong Demographics | High Spending Power
- Prime Location | Excellent Visibility and Accessibility
EXECUTIVE SUMMARY
SRS National Net Lease in collaboration with Capacity Commercial Group is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in a fully leased, two-tenant, freestanding retail property located at the Cascade Station Pad in Portland, Oregon. The property is occupied by two corporate-backed tenants, Chipotle and Wendy’s. Chipotle has been a tenant for over 10 years and recently exercised a five-year renewal option, with two additional five-year renewal options remaining. Wendy’s has also renewed its lease, extending its commitment through 2033. Both leases are NNN, requiring minimal landlord responsibilities. This offering includes the rare opportunity to acquire the sub-leasehold interest in the underlying land, subject to a ground lease with Target that runs through 2042.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,116 SF
Building Class
B
Year Built
2013
Price
$3,096,151 CAD
Price Per SF
$605.19 CAD
Cap Rate
8%
NOI
$247,673 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.01
Lot Size
14.88 AC
Opportunity Zone
Yes
Zoning
EG2 - General Employment 2
Parking
42 Spaces (8.21 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Freeway Visibility
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R593624 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $29,679,953 CAD |
PROPERTY TAXES
Parcel Number
R593624
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$29,679,953 CAD
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
2-Tenant Retail Pad | Target & IKEA Outparcel | 9687-9695 NE Cascades Pky
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.