993 Kane DrGresham, OR 97030

Property Details for 993 Kane Dr

Year built

1983

Lot size

1.38 AC

Property size (Sq ft)

8,000 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a single-tenant, 8,000 square foot shopping center located at 993 NE Kane Dr, Gresham, Oregon, 97030. The property, built in 1983 and renovated in 2019, sits on a 1.38-acre lot and boasts a fee-simple ownership structure. Currently occupied at 100% capacity by a long-established business under a triple-net (NNN) lease, this asset offers a secure and passive income stream. The lease features a remaining term of five years with a 5.54% cap rate and a net operating income (NOI) of $180,000. The asking price is $3,250,000, translating to a price per square foot of $406.25. The property is zoned RTC and benefits from a prominent hard corner location, presenting significant potential for future redevelopment and value appreciation. The current lease includes annual rent increases of 3%, providing consistent growth in rental income. This is a rare opportunity to acquire a stable, high-performing retail investment in a desirable location with substantial long-term upside. The single-story building offers ease of management and minimal operational complexities. This is an ideal investment for those seeking a low-maintenance, high-return property with significant future potential.

Location Insight

City

Gresham

County

Multnomah

State

Oregon

Latitude

45.5045

Longitude

-122.401

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