For Sale
$2,224,377

8703 82Nd AvePortland, OR 97086

High-performing auto parts store, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a 7,000 square foot, single-story retail building in Portland, Oregon. Currently 100% occupied by a credit-rated, nationally recognized auto parts retailer under an absolute NNN lease with a remaining term of 10.8 years, expiring August 13, 2035. The lease includes four, five-year renewal options with a 7.5% rent increase every five years, starting in year six. The property boasts a strong net operating income (NOI) of $116,779, yielding a 5.25% cap rate. Built in 2000, the property is strategically located in a high-traffic area with significant retail synergy, benefiting from proximity to major retailers and a densely populated residential area with an average household income near $100,000. The tenant's performance consistently ranks in the top quartile nationally and within its state network. This offering represents a rare opportunity to acquire a below-market rent, long-term, passively managed investment with a blue-chip tenant and significant upside potential. The property is situated at 8703 SE 82nd Ave, Portland, OR 97086, within Clackamas County. The asking price is $2,224,377.

Highlights

  • New 10-year lease extension with O'Reilly Auto Parts, including 7.5% rent increases every 5 years; zero rent concessions.
  • Absolute NNN lease; no landlord responsibilities.
  • Rent is approximately 30% below market rate.
  • Grocery-anchored outparcel in a strong retail center with national tenants.
  • O'Reilly store ranks in the top 22% nationally and top 40% in Oregon.
  • Located in Southeast Portland with over 145,000 residents within 3 miles and average household income near $100,000.

Property Details for 8703 82Nd Ave

Property type
Retail properties, Grocery and convenience stores
Square Feet
7,000 SF
Year Built
2000
Buildings
1
Stories
1

Location Insight

City
Portland
County
Clackamas
State
Oregon
Latitude
45.4600001
Longitude
-122.5794572
8703 82Nd Ave, Portland, Oregon

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8703 82Nd Ave
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