9687-9695 NE Cascades Pky - Freestanding FOR SALE


Portland, OR 97220
$2,631,000 USD
480-221-4221
9687-9695 NE Cascades Pky, Portland, OR for Sale
$2,631,000 USD
Freestanding - FOR SALE
1/6
null | 6.75% Cap Rate

9687-9695 NE Cascades Pky
Portland, OR 97220


HIGHLIGHTS

  • Fully Leased Two-Tenant Retail Property | Leasehold Interest Corporate-Backed Tenants | Recent Extensions | Strong Sales
  • Prime Location | Excellent Visibility and Accessibility
  • Strong Demographics | High Spending Power

OVERVIEW

SRS National Net Lease in collaboration with Capacity Commercial Group is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in a fully leased, two-tenant, freestanding retail property located at the Cascade Station Pad in Portland, Oregon. The property is occupied by two corporate-backed tenants, Chipotle and Wendy’s. Chipotle has been a tenant for over 10 years and recently exercised a five-year renewal option, with two additional five-year renewal options remaining. Wendy’s has also renewed its lease, extending its commitment through 2033. Both leases are NNN, requiring minimal landlord responsibilities. This offering includes the rare opportunity to acquire the sub-leasehold interest in the underlying land, subject to a ground lease with Target that runs through 2042.

FOR SALE DETAILS

PRICE

$2,631,000 USD

PRICE/SF

$514 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2-Tenant Retail Pad | Target & IKEA Outparcel

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

EG2

APN/PARCEL ID

R593624

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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