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West Union Retail Center 18215 NW West Union Rd 4,175 SF 100% Leased Retail Building Portland, OR 97229 $3,078,000 ($737.25/SF) 5.75% Cap Rate

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INVESTMENT HIGHLIGHTS

  • 100% leased to Starbucks (investment-grade credit of BBB) and Evolve Physical Therapy, a growing PNW PT clinic with two locations.
  • Access off of West Union Road, a major thoroughfare, with two additional points of ingress.
  • High-density surrounding residential with 219,420 residents within 5 miles.
  • Evolve recently extended their lease term two years early.
  • Above-average area incomes of $182k, roughly 49% above the Portland city average.
  • Located in Washington County, with a reputation for offering lower taxes than Multnomah County.

EXECUTIVE SUMMARY

The Offering provides the opportunity to acquire a 2-tenant building fully leased to a Starbucks drive-thru and Evolve Physical Therapy. Both tenants operate on NNN leases with five years remaining. The Property is pad to a Safeway-anchored shopping center in Bethany, an affluent Portland suburb, with extremely high-density surrounding residential with above-average household incomes of $180K. The Property benefits from strong daily-needs and commuter traffic, synergy with adjacent retailers, and proximity to two of the state’s largest employers in the submarket, Nike and Intel, of which a number of employees reside in the Bethany area.

ATTACHMENTS

View Flyer

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Building Size
4,175 SF
Building Class
C
Year Built/Renovated
2010/2020
Price
$3,078,000
Price Per SF
$737.25
Cap Rate
5.75%
NOI
$176,985
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
0.89 AC
Zoning
NC
Parking
23 Spaces (5.51 Spaces per 1,000 SF Leased)
Frontage
260’ on Northwest West Union Road
Bike Score®
Very Bikeable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

NEARBY MAJOR RETAILERS

Starbucks
Albertsons
Safeway
Snap Fitness 24/7
Columbia Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • R2005121
  • R2099452
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,065,970
  • Listing ID: 35938230

  • Date on Market: 5/21/2025

  • Last Updated:

  • Address: 18215 NW West Union Rd, Portland, OR 97229

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