Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a recently remodeled, U.S. Government guaranteed (S&P: AA+), NN leased, USPS investment property located in St. Helens, Oregon (Portland MSA). The tenant, United States Postal Service, has occupied this location since 1965 and recently extended their lease to 2032, demonstrating their long-term commitment to the site. The property underwent a major remodel in 2022, which included the installation of a new roof assembly and structural upgrades. The lease features 3% annual rental increases, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal investment opportunity for a passive investor.

This location is mission-critical for USPS, serving as the sole facility for St. Helens. The property is situated along Columbia Blvd. (9,900 VPD), the main thoroughfare for the city, providing seamless access to nearby businesses and residential areas. Additionally, it is conveniently located near the on/off ramps to Columbia Hwy (23,100 VPD). The property benefits from excellent visibility and access with significant street frontage and multiple points of ingress/egress. The USPS facility is in close proximity to national/credit tenants, including Walmart Supercenter, Safeway, Starbucks, and Dutch Bros. The strong tenant synergy promotes crossover shopping to the subject property. The 5-mile trade area is supported by a population of over 30,000 with an affluent average household income of $93,715.

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