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4784 Pioneer St 1,600 SF Retail Building Ridgefield, WA 98642 $1,900,000 ($1,187.50/SF) 5% Cap Rate
Executive Summary
MAJ Commercial Real Estate is pleased to present the opportunity to acquire a Single
Tenant Absolute Net Leased Ground Lease Investment located in Ridgefield, WA. The
subject property, situated at 4784 Pioneer Street, is 100% leased to Take 5 Oil Change,
one of the fastest-growing quick lube service brands in the country and part of the
Driven Brands (NASDAQ: DRVN) family of automotive service concepts, the largest
automotive aftermarket services company in North America. The property features
a new-construction ±1,600 SF building situated on a ±17,486 SF (±0.40-acre) ground
lease parcel and is structured as an absolute NNN ground lease with zero landlord
responsibilities. The initial lease term runs fifteen (15) years from the Commencement
Date.
Strategically positioned along Pioneer Street near its interchange with Interstate 5, one
of Clark County’s fastest-growing retail corridors, the property benefits from strong
and expanding co-tenancy in the immediate trade area, anchored by Grocery Outlet,
with more than a dozen additional national retailers announced nearby. Ridgefield,
Washington has grown to more than 15,000 residents and is one of the fastest-growing
communities in the Portland-Vancouver Metropolitan Area, with population increasing
over 6% annually and nearly 60% since the 2020 Census. With a median household
income of $116,389, well above the national average, the Ridgefield trade area offers a
strong, affluent, and rapidly expanding consumer base, making this an ideal opportunity
for investors seeking a net lease investment in a high barriers-to-entry market.
Tenant Absolute Net Leased Ground Lease Investment located in Ridgefield, WA. The
subject property, situated at 4784 Pioneer Street, is 100% leased to Take 5 Oil Change,
one of the fastest-growing quick lube service brands in the country and part of the
Driven Brands (NASDAQ: DRVN) family of automotive service concepts, the largest
automotive aftermarket services company in North America. The property features
a new-construction ±1,600 SF building situated on a ±17,486 SF (±0.40-acre) ground
lease parcel and is structured as an absolute NNN ground lease with zero landlord
responsibilities. The initial lease term runs fifteen (15) years from the Commencement
Date.
Strategically positioned along Pioneer Street near its interchange with Interstate 5, one
of Clark County’s fastest-growing retail corridors, the property benefits from strong
and expanding co-tenancy in the immediate trade area, anchored by Grocery Outlet,
with more than a dozen additional national retailers announced nearby. Ridgefield,
Washington has grown to more than 15,000 residents and is one of the fastest-growing
communities in the Portland-Vancouver Metropolitan Area, with population increasing
over 6% annually and nearly 60% since the 2020 Census. With a median household
income of $116,389, well above the national average, the Ridgefield trade area offers a
strong, affluent, and rapidly expanding consumer base, making this an ideal opportunity
for investors seeking a net lease investment in a high barriers-to-entry market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,600 SF
Building Class
A
Year Built
2026
Construction Status
Under Construction
Price
$1,900,000
Price Per SF
$1,187.50
Cap Rate
5%
NOI
$95,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.40 AC
Frontage
141’ on Pioneer St
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
1 of 3
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