Log In/Sign Up
Your email has been sent.
9009 SW Hall Blvd
Tigard, OR 97223
Macy's · Retail Property For Sale
Investment Highlights
- Macy’s Furniture Gallery has operated at this location for nearly 20 years, ranks in the top 10% of furniture stores nationwide by visits (Placer.ai)
- Positioned minutes from one of Oregon’s top-performing regional malls, which draws over 10 million annual visits per Placer.ai
- Direct frontage on SW Hall Blvd (±20,000 VPD) with immediate access to Highway 217 (±107,400 VPD).
- Lease expiration in early 2028 with four 5-year options, each featuring 10% rent bumps
- 50,808 SF two-story building on a 2.49-acre MUC-zoned parcel in a supply-constrained submarket, flexible zoning
- At $247/SF, the offering provides a favorable entry point for a large format infill retail asset in a supply-constrained submarket.
Executive Summary
Northmarq is pleased to present the opportunity to acquire a single-tenant Macy’s Furniture Gallery strategically located along SW Hall Blvd (±20,000 VPD), a primary retail corridor serving the Portland MSA. The two-story, 50,808 SF asset sits on a 2.49-acre infill parcel with direct connectivity to Highway 217 (±82,000 VPD) and immediate proximity to Washington Square, one of the highest-performing super-regional malls in the Pacific Northwest, generating over 10 million annual visits per Placer.ai. See page 10 for a detailed overview of Washington Square Mall.
The Property is offered at a 7.00% cap rate on a NNN lease structure, minimizing landlord responsibilities. With four (4) 5-year renewal options carrying 10% rent bumps, the asset offers meaningful upside upon lease extension. The surrounding submarket reports vacancy of approximately 3%, reflecting a deeply supply-constrained retail environment with strong long-term residual value.
The Property is offered at a 7.00% cap rate on a NNN lease structure, minimizing landlord responsibilities. With four (4) 5-year renewal options carrying 10% rent bumps, the asset offers meaningful upside upon lease extension. The surrounding submarket reports vacancy of approximately 3%, reflecting a deeply supply-constrained retail environment with strong long-term residual value.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Department Store
Building Size
50,808 SF
Building Class
B
Year Built
1988
Price
$12,560,000
Price Per SF
$247.21
Cap Rate
7%
NOI
$879,131
Tenancy
Single
Building Height
2 Stories
Building FAR
0.47
Lot Size
2.49 AC
Opportunity Zone
Yes
Zoning
MUC - No maximum FAR, 200 foot height limits
Parking
129 Spaces (2.54 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | R1475674 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $9,140,340 |
Property Taxes
Parcel Number
R1475674
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$9,140,340
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
