Shopping Strip

Hudson Plaza Shopping Center

12900 SW Pacific Hwy, Portland, OR 97223

Listing Price: $3,450,000

Cap Rate
5.77%
Gross SF
21,196
Rentable SF
21,196
Price/Gross SF
$162.77
Lot Size
1.37 acres

Investment Overview

The subject property is a multitenant retail and office strip center located at 12900-12950 SW Pacific Hwy, Portland, OR, commonly known as Hudson Plaza. The asset is made of three buildings comprised of 18 suites ranging from 250 to 2,600 square feet. The first building is single story, the second is two-story, constructed in 1975 of wood frame and stucco construction, situated on two parcels totaling 1.35 acres. The third building is a drive through coffee shack. The center has a combination of professional office tenants, retail, including drive-thru coffee service. The center is currently 80 percent occupied with an opportunity to lease up to approximately 3,300 square feet. Historically, the owner operated from one of the spaces and will be vacated at close of escrow. Tenants are on a combination of gross and net leases. (owner space is included in current vacancy of 80 percent) (for more detail, please see rent roll on following pages). There are 60 on site parking spaces, approximately 3:1,000. The owners have invested in recent improvements including replacing the roof in 2016, ($100,000) , re-asphalt of the parking lot ($33,000) tenant improvements, and more. Tenants have sign panel signage along SW Pacific Highway, and above tenants suites. Tenants are on staggered lease terms ranging from one to four years remaining, some with lease extension options.

Tenants benefit from being located at a signalized corner on a heavily trafficked arterial, SW Pacific Highway with average traffic count of 36,992 vehicles per day. The center is near several attractive amenities with national retailers in the area including Regal Theatre, Winco, Walmart, Costco, Walgreens, Taco Bell, and more. The site is serviced by public transportation Trimet bus, and boasts an impressive walk score of 77, very walkable, and bike score of, 84, very bikeable.
There is a historic environmental issue from former gas service station use. Owners will provide a no further action letter from the Oregon Department of Environmental Quality. NFA from DEQ

The center is ideal for either an investor or an owner/user. The location is ideally located on a well trafficked thoroughfare increases likelihood of retenanting with turnover, and to utilize the owner/user space through use, or lease-up.

Investment Highlights

  • - Occupied Multitenant Retail and Office Center with Upside In Lease Up
  • - Well Located Center Along Heavily Trafficked SW Pacific Highway
  • - Near Amenities Including Eateries, Shopping and Schools
  • - Synergistic Tenant Mix with Professional Service Business,and Retail

Exclusively Listed By

Financing By

Shopping Strip

Hudson Plaza Shopping Center

Listing Price: $3,450,000

Cap Rate
5.77%
Gross SF
21,196
Rentable SF
21,196
Price/Gross SF
$162.77
Lot Size
1.37 acres

Investment Highlights

  • - Occupied Multitenant Retail and Office Center with Upside In Lease Up
  • - Well Located Center Along Heavily Trafficked SW Pacific Highway
  • - Near Amenities Including Eateries, Shopping and Schools
  • - Synergistic Tenant Mix with Professional Service Business,and Retail

Investment Overview

The subject property is a multitenant retail and office strip center located at 12900-12950 SW Pacific Hwy, Portland, OR, commonly known as Hudson Plaza. The asset is made of three buildings comprised of 18 suites ranging from 250 to 2,600 square feet. The first building is single story, the second is two-story, constructed in 1975 of wood frame and stucco construction, situated on two parcels totaling 1.35 acres. The third building is a drive through coffee shack. The center has a combination of professional office tenants, retail, including drive-thru coffee service. The center is currently 80 percent occupied with an opportunity to lease up to approximately 3,300 square feet. Historically, the owner operated from one of the spaces and will be vacated at close of escrow. Tenants are on a combination of gross and net leases. (owner space is included in current vacancy of 80 percent) (for more detail, please see rent roll on following pages). There are 60 on site parking spaces, approximately 3:1,000. The owners have invested in recent improvements including replacing the roof in 2016, ($100,000) , re-asphalt of the parking lot ($33,000) tenant improvements, and more. Tenants have sign panel signage along SW Pacific Highway, and above tenants suites. Tenants are on staggered lease terms ranging from one to four years remaining, some with lease extension options.

Tenants benefit from being located at a signalized corner on a heavily trafficked arterial, SW Pacific Highway with average traffic count of 36,992 vehicles per day. The center is near several attractive amenities with national retailers in the area including Regal Theatre, Winco, Walmart, Costco, Walgreens, Taco Bell, and more. The site is serviced by public transportation Trimet bus, and boasts an impressive walk score of 77, very walkable, and bike score of, 84, very bikeable.
There is a historic environmental issue from former gas service station use. Owners will provide a no further action letter from the Oregon Department of Environmental Quality. NFA from DEQ

The center is ideal for either an investor or an owner/user. The location is ideally located on a well trafficked thoroughfare increases likelihood of retenanting with turnover, and to utilize the owner/user space through use, or lease-up.

Exclusively Listed By

Financing By

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