High Quality NNN Leased Investment For Sale!
DO NOT DISTURB TENANT. Call to tour.
Can be sold with NNN Leased Investment at 7501-7507 NE Glisan St. Portland, OR ($1,625,000 with 6.3 CAP)
PROPERTY/BUILDING:
-Original Engine 2 Firehouse!
-Fully renovated in 2022 inside and out
-Exceptional location, frontage and appearance on Main Street, Vancouver
-Large corner lot with ample parking/patio/yard
-2 ADA restrooms.
-Kitchen, bar, event areas
-4 aversized automatic grade level roll-up doors
-Drive thru warehouse bays
-Backup generator
-Basement storage
LEASE/TENANT:
-100% leased by Firehouse Axes since July, 2022 through June, 2028.
-True Triple Net Lease. Tenant conducts all property maintenance. No property manager required!
-3% annual Base Rent increases.
-Sticky lease. Tenant invested $400,000 in 2022 renovation.
-Excellent tenant financials. Available upon executed PSA.
-Likely to renew for a longer term.
-Under market rent