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Thirsty Lion Gastropub 10205 SW Washington Square Rd 7,125 SF Retail Building Portland, OR 97223 $6,615,000 ($928.42/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Recently-Extended Net Lease | ±10.9 Years of Term Remaining | 10% Rent Increase in 2031 & in Each of the Two, 5-Year Renewal Options
- Excellent Access & Visibility | SW Greenburg Road (11,297 VPD) | SW Beaverton Tigard Freeway (107,854 VPD)
- Over 5,720 Households & 2,460 Multifamily Units Within 1 Mile
- Original Location with Excellent Performance | Maintained a Rent-to-Sales Ratio Below 5.0%
- Outparcel to the 1.3 MSF Washington Square Center | 1.7M visitors across 5.2M visits over the past 12 months (Placer.ai)
- 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 7,125-square-foot Thirsty Lion Gastropub situated on 2.75 acres in Portland, OR (MSA Population: 2.59M+). Previously set to expire in 2030, Thirsty Lion’s net lease was recently extended for an additional 5 years years through 2035 and now features ±10.9 years of term remaining with a 10% increase in 2031 and in each of the two 5-year renewal options. The subject property is the original Thirsty Lion Gastropub that fueled the concept’s expansion to now include 13 locations throughout Arizona (5), Colorado (1), Oregon (2) and Texas (5).
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,125 SF
Building Class
C
Year Built
1979
Price
$6,615,000
Price Per SF
$928.42
Cap Rate
5.75%
NOI
$380,272
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.75 AC
Opportunity Zone
Yes
Zoning
MUC - 2210 - Commercial Improved
Parking
199 Spaces (27.93 Spaces per 1,000 SF Leased)
Frontage
262’ on Washington Square Rd
AMENITIES
- Signage
- Signalized Intersection
Bike Score®
Very Bikeable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R0273288 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $938,720 |
PROPERTY TAXES
Parcel Number
R0273288
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$938,720
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Leah Lindell -
Kaitlyn Wolf -
Abby Kelly -
CBRE, Inc.
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Thirsty Lion Gastropub | 10205 SW Washington Square Rd
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