1500 SE East Devil's Lake Rd - Freestanding FOR SALE
Lincoln City, OR 97367 |
1500 SE East Devil's Lake Rd
Lincoln City, OR 97367
HIGHLIGHTS
- Highly desirable coastal asset with the second highest customer traffic among Oregon Coast shopping centers.
- Strong tenant sales and cost of occupancy from a very synergistic tenant mix.
- Visitor traffic in 2022 increased by 23.5% compared to pre-pandemic 2019 traffic and has continued to climb in 1Q23 with a 76% year-over-year increase
- Excellent traffic performance from prominent national anchor tenants, ensuring long-term asset stability.
- Outstanding leasing momentum with a 94% (16 out of 17) renewal rate for tenants with rollover within the last 12 months and 24,822 SF of new leases.
- Average tenant sales in 2022 has increased by 16.3% compared to pre-pandemic 2019 sales, reinforcing the upward trajectory of the growth and traffic.
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Bldg B
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
255608
STORIES
1
YEAR BUILT
1989
SPRINKLERS
-
PARKING SPACES
1286
LAND DETAILS
LAND ACRES
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LAND SF
-
ZONING
-
APN/PARCEL ID
R233860,R236186
