800-850 NW Eastman Pky
Gresham, OR 97030
Commerce de détail Propriété À vendre

100% OCCUPIED 14,460 SF RETAIL STRIP IN HIGHLY VISITED GRESHAM TOWN FAIR SHOPPING CENTER
Northmarq is pleased to offer the opportunity to acquire the 5-tenant retail strip center, a 14,460-squarefoot, multi-tenant retail asset located within Gresham Town Fair, one of East Portland’s most active community shopping centers. The Property is 100% occupied, inclusive of a signed LOI with PayMore, and features a diversified rent roll of restaurant, service, and government tenancy. The Property is priced at a 7.00% going-in yield with contractual rent growth across the rent roll with annual increases on the majority of the income plus fixed-CAM growth projected to carry NOI from $318,922 in Year 1 toward approximately $359,000 by Year 5, a ~7.9% yield on cost with little or no capital required. At $317/SF, the offering is roughly 58% below estimated replacement cost of ~$750/SF - you cannot rebuild this center for what you’re buying it for. The anchor, Rockin Crab & Boiling Pot, pays $17.48/SF on 45% of GLA, below market for large-format restaurant space, with 3% annual increases through 2030. The
Property is attached to Gresham Town Fair, a 264,000 SF center anchored by Ross Dress for Less, Dick’s Sporting Goods, and PetSmart and generating 2.6 million annual visits (Placer.ai).