1547 NE 40th Ave - Freestanding FOR SALE


Portland, OR 97232- Hollywood
$4,920,000 USD
952-356-0100
1547 NE 40th Ave, Portland, OR for Sale
$4,920,000 USD
Freestanding - FOR SALE
1/3
null | 6% Cap Rate

1547 NE 40th Ave
Portland, OR 97232
Hollywood


HIGHLIGHTS

  • Fully Leased NNN Retail: Anchored by long-term tenants (FedEx, Sally Beauty), with new leases to LensCrafters and Best Mind Therapy.
  • Affluent, Dense Trade Area: 27K+ residents within 1 mile, $170K+ avg. income, $640K avg. home value.
  • Excellent Access & Visibility: Frontage on two major roads (45K+ VPD), near I-84 & Hollywood Transit Center. Rare on-site parking.
  • Trader Joe’s Adjacent: Next to top-performing Trader Joe’s (~1M annual visits), driving daily foot traffic.
  • Zoned for Future Mixed-Use: Over 0.5 acres with CM2 zoning—ideal for long-term redevelopment.

OVERVIEW

Northmarq is pleased to present Hollywood Retail Center, a 12,577 SF fully occupied NNN strip center in Portland’s Hollywood District. Built in 2001 and offered for the ?rst time by its original developers after more than two decades of ownership, the asset features a durable and diversi?ed tenancy led by long-tenured national brands such as FedEx and Sally Beauty. Ownership recently demised the former sole vacancy into two suites now leased to Best Mind Therapy and LensCrafters on NNN agreements with scheduled increases. The Property offers prominent corner visibility, convenient ingress & egress, and dedicated on-site parking, all while drawing daily customers from a high performing Trader Joe’s (#2 in Oregon) that’s one block east and a dense, af?uent neighborhood base. CM2 zoning supports future mixed-use potential, offering secure current cash ?ow with meaningful long-term optionality.

FOR SALE DETAILS

PRICE

$4,920,000 USD

PRICE/SF

$774 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hollywood Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,190 SF

ZONING

CM2

APN/PARCEL ID

R251884,R251885,R251886,R251887,R251888

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 Notice.