Overview

Description

Graystone Capital Advisors is pleased to exclusively present the rare opportunity to purchase the McMinnville Towne Center located at 1421 & 1461-1661 OR-99W in McMinnville, Oregon. This prized neighborhood center, encompassing 30,640 square feet on a 3.30 AC parcel, presents a unique blend of stability and rental growth for interested investors. Strategically nestled in the heart of McMinnville, the property’s commanding presence along the vibrant 21,923 VPD Highway 99, with an impressive 412 feet of frontage, ensures unrivaled visibility to both vehicular and pedestrian traffic. The McMinnville Town Center offers investors a stabilized investment, with 100% occupancy, full expense reimbursement, and attractive scheduled increases, including a 12.5% bump from Jimmy Johns in Feb ‘24. Furthermore, the McMinnville Town Center offers consumers an inviting and well-maintained shopping center with a recently re-striped/sealed parking lot, clean/uniform signage, new HVAC units (2017), a new roof (2016 – warranty valid until’ 26), ample street signage, and recently added Starbucks, Chase Bank, and McDonald’s pads (NAP).

As Portland and surrounding areas experience housing price increases, many individuals and families have sought more affordable alternatives in neighboring cities like McMinnville. McMinnville’s charm lies in its small-town ambiance, historic downtown, and access to outdoor recreational activities in the surrounding Willamette Valley. McMinnville is at the epicenter of Oregon’s famous wine valley with over 220 wineries and vineyards ready for touring and tasting. Furthermore, its cultural events/festivals, quality of life, and cost of living has appealed to individuals and families seeking a balance between urban amenities and a relaxed, community-oriented environment. The property also enjoys proximity to the suburb’s primary retail corridor, surrounded by an array of popular retailers, including Walmart, Safeway, WinCo Foods, Marshals, Ross, Petco, Harbor Freight, Goodwill, Joann Fabric, Planet Fitness, Staples, Starbucks, Dutch Bros, McDonald’s, Wendy’s and many more.

Highlights

• 100% Occupancy with Attractive Increases & No Near-Term Lease Rollover
• Commanding Presence Along the 21,923 VPD Highway 99
• Stable Cashflow Asset with NNN Leases & Historical High Occupancy
• Includes Jimmy John’s Outparcel Pad with Attractive Near-Term Rental Increases
• Strong Demographics - 36,619 People with an Average Household Income of $78,102 in a 3-Mile Radius
• Shadow Anchored by Major Credit Tenants Including Walmart, Safeway, WinCo Foods, Marshals, Ross, Petco, Harbor Freight, Goodwill, Joann Fabric, Planet Fitness, Staples, Starbucks, Dutch Bros, McDonald’s, Wendy’s, and many more

Documents

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