Ground-Leased Auto Retail
870 NW Eastman Pkwy Gresham, OR 97030
870 NW Eastman Pkwy, Gresham, OR, 97030
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For Sale
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Ground lease features a corporate-operated Discount Tire with a new 10-year extension through 2035.
Property Size7,351 SF
Price / SF$191.81
Days on Market121
Property Features for 870 NW Eastman Pkwy
General Information
- Standard status
- Active
- Size
- 7,351 SF
- Property subtype
- RETAIL
Listing agency
Northmarq Commercial, LLC
(206) 550-1557
Listed by
Sean Tufts
(206) 550-1557
Source
Moodyscre
Added: Mar 25 Updated: Jul 22 at 1:06PM Checked: Jul 22 at 1:06PM
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 Northmarq Commercial, LLC
Investment Insights
Based on property information with market context.
This offering is a ground-leased auto retail property with a Discount Tire corporate-operated use. The ground lease includes a brand new 10-year extension extending the lease term through 2035.
The tenant has been operating at this location for 35+ years and reports strong historical occupancy. The lease structure calls for a scheduled 10% increase in 2030.
The property is located within Gresham Town Fair, a 264,000-square-foot community shopping center with reported over 2.6 million annual visits. The center is anchored by Ross, Dick’s Sporting Goods, and PetSmart.
The tenant has been operating at this location for 35+ years and reports strong historical occupancy. The lease structure calls for a scheduled 10% increase in 2030.
The property is located within Gresham Town Fair, a 264,000-square-foot community shopping center with reported over 2.6 million annual visits. The center is anchored by Ross, Dick’s Sporting Goods, and PetSmart.
Key Highlights
- Ground lease includes a corporate‑operated Discount Tire (Halle Properties, LLC).
- New 10‑year lease extension extends the ground lease through 2035.
- Ground rent is approximately 44% below current market rates.
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 | $125.3k | $17.04 |
| − Vacancy | −$9.0k | −$1.23 |
| EGI | $116.2k | $15.81 |
| − OpEx | −$34.9k | −$4.74 |
| NOI | $81.4k | $11.07 |
7,351 SF · lease $17.04/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,370 @ 7.0% cap · market cap 5.77%
Second Best
Industrial
$716.5K
$626.9K – $835.9K
NOI $50,155 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,587 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Auto shops
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Similar Off Market Nearby
- Gresham Collision Repair — 150 NE Kelly Ave, Gresham, OR 97030
- ALL ABOUT AUTOMOTIVE — 139 Northwest 2nd Street 141,143,145, 147 NW 2nd St, Gresham, OR 97030
- My Car Care Too — 1075 Powell Blvd, Gresham, OR 97030, United States
- Gresham Autobody Pros — 150 NE Kelly Ave, Gresham, OR 97030
- Juston Olesen's Competition Paint — 818 Powell Blvd, Gresham, OR 97030
FAQs
What type of property is this?
Auto shop - Ground lease features a corporate-operated Discount Tire with a new 10-year extension through 2035.
Where is this auto shop located?
The property is located at 870 NW Eastman Pkwy Gresham, OR.
What is the asking price?
The asking price for this property is $1,410,000.
What are key features of this property?
This property features: Ground lease includes a corporate‑operated Discount Tire (Halle Properties, LLC).; New 10‑year lease extension extends the ground lease through 2035.; Ground rent is approximately 44% below current market rates.
