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8177 Plaza Way 10,638 SF 100% Leased Retail Building White City, OR 97503 $2,062,000 ($193.83/SF) 4.85% Cap Rate
INVESTMENT HIGHLIGHTS
- New 20-year absolute NNN lease to Les Schwab, a regional U.S.-based tire retailer and automotive service center operator with over 500 locations.
- Corporately guaranteed by LS Group Parent OpCo, LLC, strengthening investment security.
- In December 2024, Les Schwab acquired Four States Tire & Service, reinforcing its regional expansion strategy
- 10% rental increases every five (5) years throughout initial term and six (6) option periods, ideal for ensuring consistent income growth.
- Tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment.
- Les Schwab’s growth in 2025 is supported by a larger, growing U.S. automotive service market and aging vehicle fleet.
EXECUTIVE SUMMARY
High-visibility location near the signalized four-way intersection of Crater Lake Highway and Avenue G, allowing for excellent accessibility. Corporately guaranteed by LS Group Parent OpCo, LLC, strengthening investment security. The five-mile radius serves a populous region of 33,072, with an average annual household income of $97,040. Property features a beneficial proximity to Interstate 5, greatly increasing accessibility to both local and commuter traffic (38,430 AADT). Absolute NNN ground lease structure transfers maintenance and expense obligations to tenant, including roof, structure, and parking lot. Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise this Les Schwab and White City for steady concurrent growth.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Building Size
10,638 SF
Building Class
B
Year Built
2024
Price
$2,062,000
Price Per SF
$193.83
Cap Rate
4.85%
NOI
$100,007
Percent Leased
100%
Building Height
1 Story
Building FAR
0.18
Lot Size
1.39 AC
Opportunity Zone
Yes
Parking
50 Spaces (4.7 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 11015143 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $596,040 |
PROPERTY TAXES
Parcel Number
11015143
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$596,040
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8177 Plaza Way
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