Norris & Stevens is pleased to offer for sale a rare two-tenant investment opportunity in the heart of Scappoose, OR. Only a half hour from Portland, the property provides an opportunity for an investor to acquire a property in an up-and-coming area outside of Multnomah County. Due to its close proximity to Highway 30 and ease of access to and from main arterial streets, the property has historically experienced low vacancy and a high demand for space from prospective tenants. Lease rates have been increased consistently over time and reflect a market rate which can be subject to additional increases during tenant turnover.
• Fully leased with two tenants; both have occupied the space for over 10 years
• Stabilized at-market rents with great tenant mix
• No new construction offers little competition
• Free and clear of existing debt
• Strong demand and low vacancy for industrial space
• Great location with visibility on Highway 30 near dozens of restaurants and retail shops
• Above-average amount of parking with the option for overflow parking if needed
• Functional assembly/manufacturing space