11565 SW 67th Ave, Tigard, OR 97223
Marcus & Millichap is pleased to present for sale the exclusive listing for the property located at 11565 SW 67th Avenue, Tigard, OR 97223. The property has 2,000 square feet of rentable area, situated on a 9,583 square foot lot, zoned Mixed-use Employment. The asset is currently 100 percent occupied by a regional tenant on a triple net lease basis, where the tenant is responsible for all operating expenses arising from the property including property taxes, insurance, utilities, and repairs/maintenance. There are six paved, onsite parking stalls. The property was originally constructed of in 1996 and underwent extensive remodel in 2016 including upgrades to plumbing, the interior, exterior, HVAC, and the addition of a retaining wall. The interior is open space being used as a retail showroom with creative office characteristics. There are high vaulted ceilings, dock glass loading door, visually appealing glass and other high-end finishes throughout the property.
The site is situated on SW 67th Avenue a major thoroughfare in proximity to Interstate-5 with average daily traffic of approximately 111,700 + and Highway 99W with average daily traffic counts near 45,700+. The site is near major local and national retailers including, Petsmart, Bedmart, Walmart, Fred Meyer, McDonalds, Burger King, Regal Movie Theater, Tigard Bowling Alley, and much more.
The tenant is operating on a triple net lease, responsible for all operating expenses arising from the property. As of January 2021, the tenant pays $4,700 per month, with a rental escalation beginning in January 2022. The tenant has expressed interest in extending the lease if a new owner would be interested.
The property is located within an opportunity zone which may also provide additional tax benefits.
The property is ideal for either an investor or an owner/user. A poised investor is able to purchase the property and immediately receive strong, passive income for years to come, with a tenant that has been successful at the site and wants to continue operations. Alternately, an owner/user can benefit from the use of the property and its ideal location for their use, upon the expiration of the current lease.
Marcus & Millichap is pleased to present for sale the exclusive listing for the property located at 11565 SW 67th Avenue, Tigard, OR 97223. The property has 2,000 square feet of rentable area, situated on a 9,583 square foot lot, zoned Mixed-use Employment. The asset is currently 100 percent occupied by a regional tenant on a triple net lease basis, where the tenant is responsible for all operating expenses arising from the property including property taxes, insurance, utilities, and repairs/maintenance. There are six paved, onsite parking stalls. The property was originally constructed of in 1996 and underwent extensive remodel in 2016 including upgrades to plumbing, the interior, exterior, HVAC, and the addition of a retaining wall. The interior is open space being used as a retail showroom with creative office characteristics. There are high vaulted ceilings, dock glass loading door, visually appealing glass and other high-end finishes throughout the property.
The site is situated on SW 67th Avenue a major thoroughfare in proximity to Interstate-5 with average daily traffic of approximately 111,700 + and Highway 99W with average daily traffic counts near 45,700+. The site is near major local and national retailers including, Petsmart, Bedmart, Walmart, Fred Meyer, McDonalds, Burger King, Regal Movie Theater, Tigard Bowling Alley, and much more.
The tenant is operating on a triple net lease, responsible for all operating expenses arising from the property. As of January 2021, the tenant pays $4,700 per month, with a rental escalation beginning in January 2022. The tenant has expressed interest in extending the lease if a new owner would be interested.
The property is located within an opportunity zone which may also provide additional tax benefits.
The property is ideal for either an investor or an owner/user. A poised investor is able to purchase the property and immediately receive strong, passive income for years to come, with a tenant that has been successful at the site and wants to continue operations. Alternately, an owner/user can benefit from the use of the property and its ideal location for their use, upon the expiration of the current lease.
