18215 NW West Union Rd - Retail FOR SALE


Portland, OR 97229- Bethany
$3,210,000 USD
503-781-8786
18215 NW West Union Rd, Portland, OR for Sale
$3,210,000 USD
Retail - FOR SALE
1/5
null | 5.5% Cap Rate

18215 NW West Union Rd
Portland, OR 97229
Bethany


HIGHLIGHTS

  • 100% leased to Starbucks (investment-grade credit of BBB) and Evolve Physical Therapy, a growing PNW PT clinic with two locations.
  • Evolve recently extended their lease term two years early.
  • Access off of West Union Road, a major thoroughfare, with two additional points of ingress.
  • Above-average area incomes of $182k, roughly 49% above the Portland city average.
  • High-density surrounding residential with 219,420 residents within 5 miles.
  • Located in Washington County, with a reputation for offering lower taxes than Multnomah County.

OVERVIEW

The Offering provides the opportunity to acquire a 2-tenant building fully leased to a Starbucks drive-thru and Evolve Physical Therapy. Both tenants operate on NNN leases with five years remaining. The Property is pad to a Safeway-anchored shopping center in Bethany, an affluent Portland suburb, with extremely high-density surrounding residential with above-average household incomes of $180K. The Property benefits from strong daily-needs and commuter traffic, synergy with adjacent retailers, and proximity to two of the state’s largest employers in the submarket, Nike and Intel, of which a number of employees reside in the Bethany area.

FOR SALE DETAILS

PRICE

$3,210,000 USD

PRICE/SF

$743 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Union Retail Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,757 SF

ZONING

NC

APN/PARCEL ID

R2005121,R2099452

ASK ABOUT THIS PROPERTY

Scott FrankNorthmarqMore Info
503-781-8786

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Scott FrankNorthmarqMore Info
503-781-8786

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