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Hollywood Retail Center 1547 NE 40th Ave 12,577 SF 100% Leased Retail Building Portland, OR 97232 $4,920,000 ($391.19/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully Leased NNN Retail: Anchored by long-term tenants (FedEx, Sally Beauty), with new leases to LensCrafters and Best Mind Therapy.
- Excellent Access & Visibility: Frontage on two major roads (45K+ VPD), near I-84 & Hollywood Transit Center. Rare on-site parking.
- Zoned for Future Mixed-Use: Over 0.5 acres with CM2 zoning—ideal for long-term redevelopment.
- Affluent, Dense Trade Area: 27K+ residents within 1 mile, $170K+ avg. income, $640K avg. home value.
- Trader Joe’s Adjacent: Next to top-performing Trader Joe’s (~1M annual visits), driving daily foot traffic.
EXECUTIVE SUMMARY
Northmarq is pleased to present Hollywood Retail Center, a 12,577 SF fully occupied NNN strip center in Portland’s Hollywood District. Built in 2001 and offered for the ?rst time by its original developers after more than two decades of ownership, the asset features a durable and diversi?ed tenancy led by long-tenured national brands such as FedEx and Sally Beauty. Ownership recently demised the former sole vacancy into two suites now leased to Best Mind Therapy and LensCrafters on NNN agreements with scheduled increases. The Property offers prominent corner visibility, convenient ingress & egress, and dedicated on-site parking, all while drawing daily customers from a high performing Trader Joe’s (#2 in Oregon) that’s one block east and a dense, af?uent neighborhood base. CM2 zoning supports future mixed-use potential, offering secure current cash ?ow with meaningful long-term optionality.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,577 SF
Building Class
B
Year Built
2001
Price
$4,920,000
Price Per SF
$391.19
Cap Rate
6%
NOI
$295,200
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Lot Size
0.60 AC
Zoning
CM2
Parking
30 Spaces (2.39 Spaces per 1,000 SF Leased)
Frontage
182’ on Sandy Blvd
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (99)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $275,740 | Total Assessment | $2,736,700 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$275,740
Improvements Assessment
$0
Total Assessment
$2,736,700
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Hollywood Retail Center | 1547 NE 40th Ave
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