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Ontario Retail Center 2 Retail Properties Offered at $7,950,000 in Ontario, OR
INVESTMENT HIGHLIGHTS
- 100% leased, NNN investment
- Stabilized tenancies with renewal options
- Strong retail anchors with Walmart, Home Depot, Big 5, and Waremart by Winco
- Potential for +/- 10,000 SF expansion
- Prime location just off the I-84 and Hwy 30 interchange with high traffic counts, over 21,000 vehicles per day on Hwy 30
- Quality tenants including Marshalls, Harbor Freight, T-Mobile, Metro by T-Mobile, Miracle Ear, and Pizza Hut
EXECUTIVE SUMMARY
The offering consists of two multi-tenant retail buildings located just off the I-84 & Hwy 30 interchange at 1636 & 1648 E. Idaho Avenue in Ontario, Oregon. The property is currently 100% leased by well-known quality tenants including Marshalls, Harbor Freight, T-Mobile, Metro by T-Mobile, Miracle Ear, and Pizza Hut. Surrounded by major retailers Walmart, Home Depot, and Winco, the property benefits from strong tenant synergy with easy access via signalized intersections.
1636 E. Idaho Avenue is a 4-unit retail center containing 5,676 leasable square feet situated on a 0.53-acre site. This building was built in 2017 with wood frame construction and a stucco/synthetic stone exterior. Varying tenant buildouts were completed as the property was leased and stabilized.
1648 E. Idaho Avenue is a 2-unit retail building containing 40,010 leasable square feet situated on a 3.53-acre site. Built in 1978 with CMU construction and a masonry/stucco exterior, this building underwent significant renovations in 2019 with the addition of Marshalls.
TOK Commercial has been professionally managing the property since April 2019. Recent capital expenditures include pavement replacement in 2019 and parking lot seal coating in 2023.
The property benefits from some of the highest traffic counts in the county. Located just west of the Oregon–Idaho border, Ontario Retail Center serves several Idaho communities in addition to the Oregon cities of Ontario, Nyssa, Cairo, and Vale, including Fruitland, New Plymouth, and Payette.
The asset is offered at a 6.58% cap rate on 2026 NOI. The offering is a tremendous opportunity for an investor or 1031 exchange buyer to achieve stable returns with upside in today’s strong retail environment. There is also the possibility of constructing a +/- 10,000 SF addition to the east of Harbor Freight for increased income opportunity. Harbor Freight recently extended their lease to 11/30/32, demonstrating their confidence in the location.
Rent roll and financials are available upon execution of the confidentiality agreement.
1636 E. Idaho Avenue is a 4-unit retail center containing 5,676 leasable square feet situated on a 0.53-acre site. This building was built in 2017 with wood frame construction and a stucco/synthetic stone exterior. Varying tenant buildouts were completed as the property was leased and stabilized.
1648 E. Idaho Avenue is a 2-unit retail building containing 40,010 leasable square feet situated on a 3.53-acre site. Built in 1978 with CMU construction and a masonry/stucco exterior, this building underwent significant renovations in 2019 with the addition of Marshalls.
TOK Commercial has been professionally managing the property since April 2019. Recent capital expenditures include pavement replacement in 2019 and parking lot seal coating in 2023.
The property benefits from some of the highest traffic counts in the county. Located just west of the Oregon–Idaho border, Ontario Retail Center serves several Idaho communities in addition to the Oregon cities of Ontario, Nyssa, Cairo, and Vale, including Fruitland, New Plymouth, and Payette.
The asset is offered at a 6.58% cap rate on 2026 NOI. The offering is a tremendous opportunity for an investor or 1031 exchange buyer to achieve stable returns with upside in today’s strong retail environment. There is also the possibility of constructing a +/- 10,000 SF addition to the east of Harbor Freight for increased income opportunity. Harbor Freight recently extended their lease to 11/30/32, demonstrating their confidence in the location.
Rent roll and financials are available upon execution of the confidentiality agreement.
PROPERTY FACTS
| Price | $7,950,000 | Number of Properties | 2 |
| Price / SF | $174.01 / SF | Individually For Sale | 0 |
| Cap Rate | 6.58% | Total Building Size | 45,686 SF |
| Sale Type | Investment | Total Land Area | 8.79 AC |
| Status | Active |
| Price | $7,950,000 |
| Price / SF | $174.01 / SF |
| Cap Rate | 6.58% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 45,686 SF |
| Total Land Area | 8.79 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Ontario, OR
1648 E Idaho Ave, Ontario, OR 97914 |
Retail | 40,010 SF | 1978 | - |
| 1636 E Idaho Ave, Ontario, OR 97914 | Retail | 5,676 SF | 2017 | - |
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