110-122 Everest Rd
Newberg, OR 97132
One Everest Center · Retail Property For Sale

Marcus & Millichap, as the exclusive adviser, is pleased to present the opportunity to acquire the One Everest Center located at 122 N Everest Road, Newberg, Oregon. Built in 1963 of concrete block construction, the subject property has 31,810 square feet rentable area on a 2.55 acre lot, zoned community commercial, "C-2." There is onsite, paved parking with approximately 86 parking spaces in front, and an additional 15 plus spaces around the side and back, totaling over 100 parking spaces, or about 3.14 spaces per 1,000 square feet. There is a pylon sign on N Everest Street, as well as use of pylon sign on Pacific Highway 99W. The property was fully renovated in 1999, including constructing interior walls to create separate spaces for the now 11 tenants. The rear of the building includes a loading dock bay and additional parking. The property has five ingress and egress locations, including two on N Everest Road, one on Sitka Avenue, one via the southern adjacent property, and one via an easement through the NAPA Auto Parts parking lot to Pacific Highway 99W. The property has one recent vacancy accounting for about 25% of the property's gross leasable area; providing opportunity for substantial upside. One Everest Center is attractively located between two state highways, Pacific Highway 99W (33,500 VPD), and Highway 219 (12,700 VPD). The property is half a block from bus stations on both Pacific Highway 99W and Highway 219. It is positioned with large residential neighborhoods in close proximity to the north, south, east, and west; as well as less than a quarter of a mile from George Fox University, providing substantial local demand to the retail center. This is an opportunity to acquire a strong cash flowing investment asset, that is well located, has great intrinsic value, and substantial upside. Additionally, the site is located in an Opportunity zone, for potential additional tax incentive.