Single-Tenant Home Depot Net
1728 North Tomahawk Island Drive Portland, OR 97217
1728 North Tomahawk Island Drive, Portland, OR, 97217
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For Sale
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Home Depot net lease on Hayden Island with remaining primary term and defined scheduled rent increases.
Property Size106,500 SF
Lot Size9.28 Acres
Price / SF$385.40
Days on Market56
Property Features for 1728 North Tomahawk Island Drive
General Information
- Standard status
- Active
- Size
- 106,500 SF
- Lot size
- 9.28 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1995
Listing agency
CBRE - Atlanta
Listed by
Chris Bosworth · License #GA 248342
Source
Crexi
Added: May 28 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 2:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Atlanta
Investment Insights
Based on property information with market context.
The offering is a 106,500-square-foot Home Depot situated on 9.28 acres on Hayden Island in the Columbia River area of Portland, Oregon. The asset is presented as a net lease, with approximately 10.7 years remaining on the primary term. The lease includes a 9.90% rent increase in 2032, along with three, five-year renewal options that provide for a 9% rent increase in the first option and 10% increases in the second and third options.
Home Depot is located within the larger 743,227-square-foot Jantzen Beach Center, which is described as one of the only major shopping centers in the region. The center is positioned on the border of Oregon and Washington and is accessed off Interstate 5. Reported traffic count is 115,100 VPD, and the remarks state the site provides direct north-south access for both residential consumers and professional contractors via the Interstate Bridge and I-5 Exit 308.
For tenants, owners, or investors considering single-tenant retail exposure, this property offers a large-format, operationally specific footprint tied to a long-running retail lease structure. Its placement inside an established big-box environment, with retailers including Target, Dick’s Sporting Goods, Best Buy, Ross, Burlington, and others, supports continued compatibility with a broad regional shopping mix.
Home Depot is located within the larger 743,227-square-foot Jantzen Beach Center, which is described as one of the only major shopping centers in the region. The center is positioned on the border of Oregon and Washington and is accessed off Interstate 5. Reported traffic count is 115,100 VPD, and the remarks state the site provides direct north-south access for both residential consumers and professional contractors via the Interstate Bridge and I-5 Exit 308.
For tenants, owners, or investors considering single-tenant retail exposure, this property offers a large-format, operationally specific footprint tied to a long-running retail lease structure. Its placement inside an established big-box environment, with retailers including Target, Dick’s Sporting Goods, Best Buy, Ross, Burlington, and others, supports continued compatibility with a broad regional shopping mix.
Key Highlights
- 106,500 SF Home Depot on 9.28 acres on Hayden Island in Portland, Oregon (1995 build).
- Net lease with approximately 10.7 years of primary term remaining.
- Scheduled rent increases: 9.90% in 2032 during the primary term.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.92M | $18.00 |
| − Vacancy | −$143.8k | −$1.35 |
| EGI | $1.77M | $16.65 |
| − OpEx | −$532.0k | −$5.00 |
| NOI | $1.24M | $11.66 |
106,500 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$17.73M
$15.52M – $20.69M
NOI $1,241,258 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.91M
$26.17M – $34.89M
NOI $2,093,548 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Pro Desk at The Home ...
Big Box & Wholesale Store
Truck Rental Center ...
Car Rental Facility
Home Services at The Home ...
HVAC Service
The Home Depot
Building Supply
KeyExpress Locksmiths
Locksmith
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Home Depot net lease on Hayden Island with remaining primary term and defined scheduled rent increases.
Where is this retail space located?
The property is located at 1728 North Tomahawk Island Drive Portland, OR.
What is the asking price?
The asking price for this property is $41,045,000.
What are key features of this property?
This property features: 106,500 SF Home Depot on 9.28 acres on Hayden Island in Portland, Oregon (1995 build).; Net lease with approximately 10.7 years of primary term remaining.; Scheduled rent increases: 9.90% in 2032 during the primary term.
