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Shopping Strip

Sherwood Multi-Tenant Retail

21025 SW Pacific Hwy, Sherwood, OR 97140

Listing Price: $2,650,000

Cap Rate
6.06%
Gross SF
9,868
Rentable SF
9,868
Price/Gross SF
$268.54
Lot Size
0.34 acres
Year Built
1980

Investment Overview

The subject property is a multitenant retail center located at 21025 SW Pacific Highway, Sherwood, Oregon. The asset is comprised of four suites ranging from 856 to 4,400 square feet of rentable area. The building is a multi-story masonry building constructed in 1980, situated on one parcel totaling 0.34 acres. Three of the suites are on the ground level with the fourth suite on the second story. The asset is currently 100 percent occupied with an opportunity for an owner/user to occupy the second level if so desired. The second level is currently occupied by the owner who is willing to remain or vacate based on the buyer’s preference. There are 29 on-site paved parking spaces, with an approximate 2.35/1,000 SF parking ratio. The building is in good condition with little to no deferred maintenance. A new silicone cover was installed on the roof approximately two years ago. Tenants all have NNN leases with annual scheduled rent increases. Three of the four leases have increase related to the potential increase in the CPI. Tenants are on staggered lease terms with one to three years remaining, with lease extension options. Tenants benefit from being located on heavily trafficked arterial, Southwest Pacific Highway with average traffic count of 39,525 vehicles per day. There is high visibility to the center with strong ingress/egress from three curb cuts into the parking lot. The center is near several attractive amenities with national retailers in the area including Walgreens, Kohl’s, Ross, Starbucks, Target, Walmart Supercenter, numerous national fast casual chains, and more. The site is serviced by public transportation Trimet bus and boasts an impressive walk score of 72 (very walkable) and bike score of 78 (very bikeable). The center is ideal for either an investor or an owner/user. An investor is poised to acquire a fully occupied center and immediately benefit from strong cash flow. The NNN lease structure allows for minimal landlord responsibility and along with rental increase provides a hedge against inflation and rising costs. The site’s ideal location on a well trafficked thoroughfare increases likelihood of re-tenanting upon turnover, and if desired, the ability to utilize the second story through owner/user use, or lease-up.

Investment Highlights

  • Multitenant Retail with Strong NNN Leases on Staggering Lease Terms that Allow for Landlord Flexibility
  • Attractively Priced at a 6.33% Cap Rate in Year 2
  • Well Located Center Along Heavily Trafficked SW Pacific Highway (Over 39,000 VPD)

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

Shopping Strip

Sherwood Multi-Tenant Retail

Listing Price: $2,650,000

Cap Rate
6.06%
Gross SF
9,868
Rentable SF
9,868
Price/Gross SF
$268.54
Lot Size
0.34 acres
Year Built
1980

Investment Highlights

  • Multitenant Retail with Strong NNN Leases on Staggering Lease Terms that Allow for Landlord Flexibility
  • Attractively Priced at a 6.33% Cap Rate in Year 2
  • Well Located Center Along Heavily Trafficked SW Pacific Highway (Over 39,000 VPD)

Investment Overview

The subject property is a multitenant retail center located at 21025 SW Pacific Highway, Sherwood, Oregon. The asset is comprised of four suites ranging from 856 to 4,400 square feet of rentable area. The building is a multi-story masonry building constructed in 1980, situated on one parcel totaling 0.34 acres. Three of the suites are on the ground level with the fourth suite on the second story. The asset is currently 100 percent occupied with an opportunity for an owner/user to occupy the second level if so desired. The second level is currently occupied by the owner who is willing to remain or vacate based on the buyer’s preference. There are 29 on-site paved parking spaces, with an approximate 2.35/1,000 SF parking ratio. The building is in good condition with little to no deferred maintenance. A new silicone cover was installed on the roof approximately two years ago. Tenants all have NNN leases with annual scheduled rent increases. Three of the four leases have increase related to the potential increase in the CPI. Tenants are on staggered lease terms with one to three years remaining, with lease extension options. Tenants benefit from being located on heavily trafficked arterial, Southwest Pacific Highway with average traffic count of 39,525 vehicles per day. There is high visibility to the center with strong ingress/egress from three curb cuts into the parking lot. The center is near several attractive amenities with national retailers in the area including Walgreens, Kohl’s, Ross, Starbucks, Target, Walmart Supercenter, numerous national fast casual chains, and more. The site is serviced by public transportation Trimet bus and boasts an impressive walk score of 72 (very walkable) and bike score of 78 (very bikeable). The center is ideal for either an investor or an owner/user. An investor is poised to acquire a fully occupied center and immediately benefit from strong cash flow. The NNN lease structure allows for minimal landlord responsibility and along with rental increase provides a hedge against inflation and rising costs. The site’s ideal location on a well trafficked thoroughfare increases likelihood of re-tenanting upon turnover, and if desired, the ability to utilize the second story through owner/user use, or lease-up.

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

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