Fully Performing Commercial Center

$5,695,000

12930 & 12950 SW Pacific Highway, Portland, OR 97223

For Sale

Retail Strip Center

Active

Last Updated: 12/10/2024

Details:

Building Size: 22,896 sqft

Lot Area: 0.75 acres

Occupancy: 77%

Units: 17

Year Built: 1993

Floors: 2

Offered by

Aj Nash

Principal Broker

Tradition Real Estate Partners

Request Info to Unlock

Highlights:

NEW TO MARKET
$448,126 GSR + NNN
NOI - $414,517 (IN PLACE)
7.28% CAP RATE - IN PLACE
7.59% CAP RATE - PROFORMA
All NNN Leases
Upside Potential Lease Rates: $12-$20/SF/Year + NNN
Recently Remodeled
New Roof
CG Zone (mixed use friendly)
High Visibility Location & Signage
38,000 Vehicles Per Day
Close to Freeway Access
Ample Onsite Parking
Bus Stop Location

Description:

NEW TO MARKET! Introducing a prime investment opportunity in the heart of Tigard, Oregon on Highway 99. Two commercial buildings totaling 22,896 SF, constructed in 1972 and 1993 recently remodeled, offers a lucrative prospect for retail/strip center investors. Zoned CG and boasting a 100% occupancy rate, this fully performing property presents a stable income stream with significant potential for growth. Additional Value-Ad with addition of a food truck pod. The property features a modern design, ample parking, and high visibility, making it an attractive option for retail businesses. With a strong tenant base and a well-maintained structure, this property is an ideal addition to any investment portfolio. Don't miss the chance to capitalize on this outstanding retail real estate opportunity in a sought-after location.

Asset Features:
1. Extensive exterior upgrades with new roofing, paint, siding, landscaping, signage, and resurfaced parking lot.
2. Wood flooring with high crawl spaces provides TI plumbing flexibility
3. Two new monument signs.
4. Meticulously maintained with no delayed maintenance.
5. No delayed maintenance
6. HVAC in good repair.
7. Structures solidly built and easy to maintain.
8. Very secure location in the more affluent Portland suburbs
9. Professionally managed
10. Plans in place for very lucrative food cart pod.
11. Space in back for value added activity, (no building)
12. Comcast cable and Zippy fiber
13. Uses: Office, Retail, Professional Services, Personal Services, Food, Religious and Civic.
14. Plaza has a good vibe with community feel.

10 miles South of downtown Portland. 2 miles West of I-5. 1 mile from highway 217.

Two Buildings and a Coffee Shop. Direct access off Highway 99. Plenty of parking. This lot faces NW.