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421-491 NE Burnside Rd 15,500 SF 100% Leased Retail Building Gresham, OR 97030 $3,150,000 ($203.23/SF) 7.39% Cap Rate
INVESTMENT HIGHLIGHTS
- High Traffic Location
- NNN Leases
- Fully Leased
- Updated Interiors & Exterior
EXECUTIVE SUMMARY
This well established, well maintained, and fully leased multi-tenant commercial property in Gresham, OR offers a strong investment opportunity. Featuring 7 fully leased spaces, the property is home to a diverse mix of tenants; Retail, Personal Services, and Food Services. Cascadia Center is located in a highly visible location along NE Burnside Rd, a main Gresham throughway. Gresham High School, Les Schwab, Rivermark Bank, Auto Zone, and Goodwill, along with many popular fast food and food service businesses, surround the complex. Travelers to Mt. Hood and Central Oregon use NE Burnside Rd to reach their destinations. To the North is a large residential neighborhood. This location truly captures both local and commuter traffic.
There are 37 parking spaces fronting Cascadia Center with driveway access from both NE Burnside Rd. and signaled NE Kelly Avenue. The stable rent roll offers a reliable income stream and a solid return on investment. This is a rare opportunity to own a fully leased, income generatingasset in a prime location, just down the street from incoming Trader Joe's.
There are 37 parking spaces fronting Cascadia Center with driveway access from both NE Burnside Rd. and signaled NE Kelly Avenue. The stable rent roll offers a reliable income stream and a solid return on investment. This is a rare opportunity to own a fully leased, income generatingasset in a prime location, just down the street from incoming Trader Joe's.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
15,500 SF
Building Class
B
Year Built
1979
Price
$3,150,000
Price Per SF
$203.23
Cap Rate
7.39%
NOI
$232,838
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
1.78 AC
Zoning
CC
Parking
37 Spaces (2.39 Spaces per 1,000 SF Leased)
Frontage
339’ on Burnside Rd
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R337429 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,717,190 |
PROPERTY TAXES
Parcel Number
R337429
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,717,190
(503) 661-8000
x109
CONTACTS
-
Sue O'Halloran -
Corinne O'Halloran -
Martin Stone -
Kohler Meyers O'Halloran
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421-491 NE Burnside Rd
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