422 10Th Ave Hillsboro, OR 97123

This exceptional investment opportunity presents a fee-simple ownership of a 10,369 square foot Aaron's storefront located at 422 SE 10th Ave, Hillsboro, OR 97123. The property sits on a 0.55-acre lot in Washington County, zoned SCC-DT, and boasts 20 on-site parking spaces, plus an easement agreement providing access to an additional 16 spaces at a neighboring hotel. Built in 1965 and renovated in 2010, this single-tenant retail building offers a strong, corporate-guaranteed, absolute NNN lease with a remaining term of approximately 8.1 years, expiring December 31, 2032. The lease commenced January 1, 2012, and includes attractive 10% rent bumps every five years, with the next increase scheduled for January 1, 2027. This increase will boost the current 7.26% cap rate to a pro-forma 7.99%. The current net operating income (NOI) is $149,919, projected to increase to $164,911. The asking price is $2,065,000, translating to $199.15 per square foot and $86.19 per square foot for land value. The property's prime corner location at a signalized intersection in Hillsboro, a thriving bedroom community of Portland, ensures high visibility and accessibility. Lease options include three five-year terms. This is a 1031 exchange eligible property.