2207 Washburn Way - Supermarket FOR SALE


Klamath Falls, OR 97603
$4,565,000 USD
206-826-5787
2207 Washburn Way, Klamath Falls, OR for Sale
$4,565,000 USD
Supermarket - FOR SALE
1/4
null | 6.5% Cap Rate

2207 Washburn Way
Klamath Falls, OR 97603


HIGHLIGHTS

  • 8-Year Long-Term Lease
  • 3% Annual Rent Increases
  • Largest Mexican Supermarket Brand in Oregon
  • Market Monopoly
  • $1,700,000+ Renovation, Built to Suit a Supermarket

OVERVIEW

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale El Torito Supermarket in Klamath Falls, OR. El Torito Supermarket benefits from being the largest Mexican supermarket chain in Oregon. The lease has nearly 8 years remaining on the original 10-year NNN lease with 4, 5-year options, and features 3% annual rent increases. The Property has market monopoly in rapidly growing Klamath Falls, OR, and benefits from a Hispanic population exceeding 8,000 residents in a 5-mile radius. The Hispanic population accounts for 15% of the population and is the fastest growing demographic in Klamath Falls. El Torito Supermarket is actively expanding throughout Oregon and recently announced they are opening a 7th location in Madras, OR. The Property was built-to-suit a supermarket and since 2020, has benefited from more than $1.7M of capital improvements and renovations including: brand-new HVAC, refrigeration units, electrical wiring and plumping; maintenance to the parking lot, roof, and landscaping; and new exterior and interior paint. The Tenant has been regularly maintaining the parking lot, roof, and landscaping. Klamath Falls is a high barrier-to-entry sub-market featuring a 0.7% vacancy rate, 2.9% rent growth year over year with no new supply delivered over the past 3 years creating high retail real estate demand. The Property is personally guaranteed by the El Torito Supermarket founders and successful entrepreneurs, Alfredo Mendez Chavez Jr. and Liliana Perez Miranda who operate all seven locations across Oregon.

FOR SALE DETAILS

PRICE

$4,565,000 USD

PRICE/SF

$186 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

El Torito Supermarket | 3% Annual Increases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

GC

APN/PARCEL ID

R526023,R526032

ASK ABOUT THIS PROPERTY

Clayton BrownMarcus & MillichapMore Info
206-826-5787

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Clayton BrownMarcus & MillichapMore Info
206-826-5787

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