Jaguar Land Rover of Portland 10131 SW Washington Square Rd 62,000 SF 4-Star Retail Building Tigard, OR 97223 $12,385,000 ($199.76/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Premier Luxury Car Brand | Jaguar Land Rover
- Residual Value of Improvements | State-of-the-Art Showroom | Three-Story Concrete Parking Structure & Coveted Zoning
- Outparcel to the 1.3 MSF Washington Square Center | 1.7M Visitors Across 5.2M Visits Across the Past 12 Months (Placer.ai)
- NNN Ground Lease | ±20 Years of Term Remaining | 7.5% Rent Increases Every 5 Years | Three, 10-Year Renewal Options
- Excellent Access & Visibility | SW Greenburg Road (11,297 VPD) | SW Beaverton Tigard Freeway (107,854 VPD)
- Less Than 7 Miles from Downtown Portland | Portland, OR MSA (MSA Population: 2.59M+)
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to offer for sale the ±20-year NNN Jaguar Land Rover ground lease situated on 4.49 acres in Portland, OR (MSA Population: 2.59M+). The lease features 7.5% rent increases every 5 years throughout the initial term and three 10-year renewal options. The tenant under the lease—Don Rasmussen Company—was founded in 1950 as a Studebaker dealership. Today, the company is exclusively dedicated to Land Rover and has been recognized as one of the premier Land Rover retailers in the nation.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
62,000 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2019
Price
$12,385,000
Price Per SF
$199.76
Cap Rate
6.25%
NOI
$774,000
Tenancy
Single
Building Height
2 Stories
Building FAR
0.32
Lot Size
4.49 AC
Opportunity Zone
Yes
Zoning
MUC - MUC
Bike Score®
Very Bikeable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R0273288 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $911,380 |
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Leah Lindell -
Kaitlyn Wolf -
Abby Kelly -
CBRE, Inc.
