422 SE 10th Ave - Freestanding FOR SALE


Hillsboro, OR 97123- Downtown Hillsboro
$2,065,000 USD
650-279-5790
422 SE 10th Ave, Hillsboro, OR for Sale
$2,065,000 USD
Freestanding - FOR SALE
1/7
null | 7.26% Cap Rate

422 SE 10th Ave
Hillsboro, OR 97123
Downtown Hillsboro


HIGHLIGHTS

  • Just under 8 years remaining on absolute NNN lease
  • Corporate backed lease with The Aaron's Company, Inc.
  • Attractive 10% fixed rent increases every 5 years
  • Tenant paying below market rent at $1.20/sq. ft. NNN
  • Corner location at signalized intersection
  • Possible owner/user opportunity with tenant marketing the property for sub-lease

OVERVIEW

Existing Aaron's store on a corporate backed that expires on 12/31/2032. The lease is absolute NNN with 10% fixed rent increases every 5 years with the next increase scheduled to occur January, 2027. Corner location at signalized intersection.

FOR SALE DETAILS

PRICE

$2,065,000 USD

PRICE/SF

$199 USD /SF

CAP RATE

7.26%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

SCC-DT

APN/PARCEL ID

R0323536

ASK ABOUT THIS PROPERTY

Steve SauterMarcus & MillichapMore Info
650-279-5790

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Steve SauterMarcus & MillichapMore Info
650-279-5790

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