9855 SW Capitol Hwy - Drug Store FOR SALE


Portland, OR 97219
$7,350,000 USD
952-356-0100
9855 SW Capitol Hwy, Portland, OR for Sale
$7,350,000 USD
Drug Store - FOR SALE
1/5
null | 7.5% Cap Rate

9855 SW Capitol Hwy
Portland, OR 97219


HIGHLIGHTS

  • Walgreens is fully responsible for the upkeep of the roof, structure, and parking, allowing for no landlord responsibilities
  • Barbur Blvd is the only commercially zoned land within the surrounding area, limiting the threat of future competition
  • Located at the intersection of Capitol Highway and Interstate 5 with convenient access to multiple transportation networks
  • There are 330k+ people within a 5-mile radius with average household incomes exceeding $142k+
  • The Property has multiple ingress & egress points and is situated on a .83-acre lot with CM2 zoning which allows for several potential redevelopments

OVERVIEW

The offering presents the opportunity to acquire an absolute NNN Walgreens in Portland’s densely populated and affluent Ash Creek neighborhood. Constructed in 2012, the building is 13,300 SF situated on 36,162 SF of commercially zoned land. The current lease runs through December 31, 2037, with options for termination after that. If not terminated, the lease will extend through 12/31/2087. The Property is situated on a hard corner at the confluence of two main retail thoroughfares of Barbur Blvd (Capitol Highway) and Interstate 5, with approximately 121,000+ VPD. Barbur Blvd is a dense retail corridor with high barriers to entry sandwiched between several upscale residential neighborhoods with incomes exceeding $135K.

FOR SALE DETAILS

PRICE

$7,350,000 USD

PRICE/SF

$553 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

36,162 SF

ZONING

CM2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Kevin AdattoNorthmarqMore Info
952-356-0100

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Kevin AdattoNorthmarqMore Info
952-356-0100

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