Ground-Leased Auto Retail
For Sale
Contact for pricing
870 NW Eastman Pkwy, Gresham, OR 97030
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 Market213
Property Features for 870 NW Eastman Pkwy
General Information
Standard status
Active
Size
7,351 SF
Property subtype
Retail
Zoning
Downtown Mixed Use (DMU)
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$68,211
Building Details
Year Built
1990
Buildings
1
Tenancy
Single
Listing Agency:
Northmarq - Seattle
Listed By:
Sean Tufts · License #WA 74057
(206) 550-1557
Source:
Crexi
Added: Mar 25
Changed: Oct 10
Last Checked: Oct 20 at 8:36PM
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 - Seattle
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,370
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,627,400
$1.6M
Cap Rate 7%
$1,162,429
$1.2M
Cap Rate 9%
$904,111
$904.1K
Market Conditions
NOI Build-Up for 7,351 SF
Gross rent
$125.3K $17.04/SF
− Vacancy
−$9.0K −$1.23/SF
EGI
$116.2K $15.81/SF
− OpEx
−$34.9K −$4.74/SF
NOI
$81.4K $11.07/SF
Area
Gresham, OR
Vacancy
7.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,627,400
Cap Rate 7%
$1,162,429
Cap Rate 9%
$904,111
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Valvoline Instant Oil Change
Shops & Services
1,804 visits/mo
0.4 miles
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- ALL ABOUT AUTOMOTIVE — 139 Northwest 2nd Street 141,143,145, 147 NW 2nd St, Gresham, OR 97030
- Gresham Collision Repair — 150 NE Kelly Ave, Gresham, OR 97030
- Gresham Autobody Pros — 150 NE Kelly Ave, Gresham, OR 97030
- My Car Care Too — 1075 Powell Blvd, Gresham, OR 97030, United States
- Juston Olesen's Competition Paint — 818 Powell Blvd, Gresham, OR 97030
Frequently Asked Questions
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.
