4623-4643 NE Sandy Blvd - Convenience Store FOR SALE


Portland, OR 97213- Hollywood
$1,953,881 USD
949-724-5552
4623-4643 NE Sandy Blvd, Portland, OR for Sale
$1,953,881 USD
Convenience Store - FOR SALE
1/5
null | 4.7% Cap Rate

4623-4643 NE Sandy Blvd
Portland, OR 97213
Hollywood


HIGHLIGHTS

  • Recent 10-Year Lease Extension – Long Term Lease - Strong Store Sales History – 4.6% Rent to Sales
  • Located in the Historic Hollywood District in Northeast Portland
  • Corporate 7-Eleven – Investment-Grade Credit Rating (S&P: A) - Largest C-Store Brand Worldwide
  • 10% Rent Increases in Primary Term - CPI Rent Increase in Option
  • Absolute NNN Lease – Zero Landlord Responsibilities

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer investors an excellent opportunity to purchase a well-established, Absolute NNN corporate 7-Eleven convenience store in Portland, OR. 7-Eleven is the largest operator, franchisor, and licensor of convenience stores worldwide, operates over 13,000 stores in the U.S. and Canada (85,000 globally), and has an investment-grade credit rating of “A” from S&P (Moody’s: “Baa2”). With nearly 50 years of successful occupancy, the tenant recently extended the lease for an additional 10 years, demonstrating the strength and profitability of this location. The store has a strong sales history, boasting 4.6% rent to Sales, providing low downside risk and long-term upside potential. There is a 10% rent increase in the primary term, a CPI rent increase in the 5-year option period, and zero landlord responsibilities make this asset ideal for an investor seeking years of inflation-resistant passive income. The 2,400 SF building on a 0.28-acre parcel is located in the high-income area, on the hard corner signalized intersection of NE Sandy Blvd and NE 47th Ave, which has a combined traffic count exceeding 34,700 VPD. Positioned within the popular and historic Hollywood District in the Northeast Portland neighborhood, the subject property is surrounded by award-winning eateries, trendy coffee shops, and national retailers, including Whole Foods, Trader Joe’s, Fred Meyer, Grocery Outlet, Safeway, CVS Pharmacy, Bank of America, Chase Bank, and more. This is a great opportunity to acquire an absolute NNN leased 7-Eleven in Portland (MSA population exceeding 2.5 million) with a long-term corporate lease, multiple option periods, rent increases, and no landlord responsibilities, providing years of worry-free cash flows.

FOR SALE DETAILS

PRICE

$1,953,881 USD

PRICE/SF

$780 USD /SF

CAP RATE

4.7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

CROSS STREETS

ne 47th ave

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

C2

APN/PARCEL ID

R259389

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

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Jereme SnyderColliersMore Info
949-724-5552

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