12215 SE Powell Blvd
Portland, OR 97236
Walgreens - Portland - Powell · Retail Property For Sale

The offering provides the opportunity to acquire a freestanding, 13,490 square foot single tenant NNN-leased investment property in Portland, Oregon. The Property is fully leased to Walgreens, an investment grade tenant issued a BBB credit rating by Standard & Poor' s. Walgreens has 44 years remaining on their initial lease term, with termination options beginning in 2019. Landlord responsibilities are minimal and are exclusive to the building roof, structure, and the cost to replace the parking lot. A portion of the Subject' s land area is also leased for cell tower purposes, further increasing the Property' s cash flow. The Property is situated on a highly-trafficked, hard corner of SE Powell Boulevard and 122nd Avenue within close proximity to downtown Portland and interstate 205. The City of Portland' s Transportation Commission agreed in 2015 to ear mark $17 million to be put toward the planning and repaving of sidewalks, buffered bicycle lanes, and turn lanes off of SE 122nd, including the section of 122nd in front of Walgreens. The offering also benefits from a huge surrounding population base, with over 410,000 residents within a five mile radius.