1500 SE East Devil's Lake Rd | Lincoln City, OR 97367
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- LoopNet Team
1500 SE East Devil's Lake Rd
Lincoln City, OR 97367
Bldg B · Retail Property For Sale
Investment Highlights
- Highly desirable coastal asset with the second highest customer traffic among Oregon Coast shopping centers.
- Visitor traffic in 2022 increased by 23.5% compared to pre-pandemic 2019 traffic and has continued to climb in 1Q23 with a 76% year-over-year increase
- Outstanding leasing momentum with a 94% (16 out of 17) renewal rate for tenants with rollover within the last 12 months and 24,822 SF of new leases.
- Strong tenant sales and cost of occupancy from a very synergistic tenant mix.
- Excellent traffic performance from prominent national anchor tenants, ensuring long-term asset stability.
- Average tenant sales in 2022 has increased by 16.3% compared to pre-pandemic 2019 sales, reinforcing the upward trajectory of the growth and traffic.
Property Facts
Property Type
Retail
Building Size
45,096 SF
Building Class
C
Year Built/Renovated
1989/1996
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.07
Lot Size
15.31 AC
Zoning
G-C - General Commercial
Parking
1,286 Spaces (28.52 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Numbers | Improvements Assessment | $23,095,620 | |
| Land Assessment | $3,579,530 | Total Assessment | $27,361,200 |
Property Taxes
Parcel Numbers
Land Assessment
$3,579,530
Improvements Assessment
$23,095,620
Total Assessment
$27,361,200
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