10052 SE Washington St - Storefront FOR SALE


Portland, OR 97216
$41,000,000 USD
206-693-3352
10052 SE Washington St, Portland, OR for Sale
$41,000,000 USD
Storefront - FOR SALE
1/8
null | 5.65% Cap Rate

10052 SE Washington St
Portland, OR 97216


HIGHLIGHTS

  • Home Depot just exercised two options early, resulting in an extension to January 2037
  • Top-performing location ranked in the 87th percentile nationally (per Placer.AI)
  • Investment-grade credit rating (S&P: A)
  • Scheduled 7% rent increases every five years, including at the start of each of the 7, 5-year remaining extension options
  • Freeway location at the corner of two major transportation routes connecting to I-205
  • High-density surrounding residential base with over 448,000 residents within a 5-mile radius, earning an average of $116,000 annually

OVERVIEW

The Offering provides the rare opportunity to acquire The Home Depot at Marketplace 205, a regional shopping center located in Portland’s Gateway District. The Property is located at the intersection of I-84 and I-205, in a dynamic daily-needs trade area with high-density surrounding residential. This Home Depot is ranked in the 87th percentile and benefits from added draw from the adjacent Target, each ranked a "Top Performing Store" by Placer.ai; and is the only Home Depot and Target in a 4.5-mile radius, providing a far-reaching trade area. Home Depot has occupied the center since 2001 and recently extended their lease through 2037, with 7 remaining 5-year options and 7% contractual rent increases at every option period. The current owner of the center is redeveloping the adjacent former interior mall, with new leases executed by Burlington and Urban Air. A number of other LOI’s have been executed and are in the works that will provide additional draws to the center. Please follow this link for more information: https://hubs.la/Q02XdFsT0

FOR SALE DETAILS

PRICE

$41,000,000 USD

PRICE/SF

$135 USD /SF

CAP RATE

5.65%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Home Depot at Marketplace 205

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

907

LAND DETAILS

LAND ACRES

12.47 AC

LAND SF

543,267 SF

ZONING

CX

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Sean TuftsNorthmarqMore Info
206-693-3352

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Sean TuftsNorthmarqMore Info
206-693-3352

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.