9855 Capitol Hwy Portland, OR 97219-6878

Property Details for 9855 Capitol Hwy

Year built

2012

Lot size

0.83 lot acres

Property size

16,046 SF

Zone code

CG

Property type

Retail space

APN

1S1E29CB 00800

APU

1S1E29CB00800

Description

This exceptional investment opportunity presents a fee-simple, 13,300 square foot Walgreens located in Portland, Oregon's desirable Ash Creek neighborhood. Built in 2012, this Class B property sits on a 0.83-acre lot (36,162 sq ft) with CM2 zoning, offering potential redevelopment options. The property boasts a highly visible hard corner location at the intersection of Capitol Highway and Interstate 5, benefiting from over 121,000 vehicles per day. The absolute NNN lease with Walgreens, a credit-worthy tenant, extends to December 31, 2037, with options extending it to December 31, 2087. The current asking price is $7,350,000, representing a 7.50% cap rate and a price per square foot of $553. The property enjoys 100% occupancy and is situated within a densely populated area with average household incomes exceeding $142,000 within a 5-mile radius. The location's strong demographics, high visibility, and long-term lease make this a compelling investment opportunity. The property's APN is R991293410. There are no rent bumps included in the lease. The lease is a single tenancy. The property is not a ground lease. This is a retail property, specifically a pharmacy/drug store.