3527 Highway 101 N - Storefront Retail/Office FOR SALE


Gearhart, OR 97138
$1,580,000 USD
503-781-8786
3527 Highway 101 N, Gearhart, OR for Sale
$1,580,000 USD
Storefront Retail/Office - FOR SALE
1/8
null | 7.5% Cap Rate

3527 Highway 101 N
Gearhart, OR 97138


HIGHLIGHTS

  • Sherwin-Williams occupies 61% of the GLA and has a 21-year tenure at the Property with a recently executed 5-year extension.
  • Sherwin-Williams is an investment-grade credit tenant.
  • Opportunity for upside provided by low average base rents.
  • Increased retail synergy provided by an adjacent Dollar General with shared access.
  • Average HH income is over $127k within a mile radius of the Property.
  • Exposed to over 16,000 vehicles per day with frontage on Hwy 101, the coast’s main connecting highway.

OVERVIEW

The Offering provides the opportunity to acquire a fully occupied three-tenant retail center highlighted by an investment-grade credit tenant Sherwin-Williams (S&P: BBB), and the balance is occupied by Ebb-N-Flow, a locally operated massage parlor, and Top Shelf Cannabis, a licensed dispensary. The Property is a build-to-suit construction, developed for Sherwin-Williams in 2004. Sherwin-Williams Retail Center benefits from strong traffic counts and high co-tenancy with the adjacent, newly constructed Dollar General, with excellent visibility along Hwy 101, the main highway extending along the West Coast.

FOR SALE DETAILS

PRICE

$1,580,000 USD

PRICE/SF

$160 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sherwin-Williams Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,897 SF

ZONING

-

APN/PARCEL ID

55480

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.