Leasehold Retail Property in
9687 Northeast Cascades Parkway, Portland, OR 97220
Fully leased, two-tenant retail property with corporate-backed tenants and recent extensions.
Type:Retail
Property size:
5,116 SFPrice / SF:
$433/SF- Added:
- Jan 26, 2026
- Days on Market:
- 111
- Last Refresh:
- Apr 5 at 8:31 pm
Property Features for 9687 Northeast Cascades Parkway
General Information
- Standard status
- Active
- Size
- 5,116 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2013
Listing agent Ashton Summers (503) 326-9000
Listing office (503) 326-9000
Listing date Jan 26, 2026
Source Corfac
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 Ashton Summers
HighLights
- Fully leased to corporate‑backed tenants Chipotle and Wendy's, with recent lease extensions ensuring stable income.
- Located in Cascade Station, a premier retail corridor and mixed‑use destination with high traffic.
- Rare opportunity to acquire the sub‑leasehold interest in the underlying land.
- Excellent visibility and accessibility near Airport Way (52,100 VPD) and Interstate 205 (160,000 VPD).
- Strong demographics with a 5‑mile trade area population of over 329,000 and an average household income of $121,952.
- NNN leases in place, requiring minimal landlord responsibilities.
Overview
Located at the Cascade Station Pad in Portland, Oregon, this fully leased, two-tenant, freestanding retail property offers a leasehold interest (building ownership). The property is occupied by Chipotle, a tenant for over 10 years that recently exercised a five-year renewal option with two additional five-year renewal options remaining, and Wendy's, which has extended its commitment through 2033. Both leases are NNN, requiring minimal landlord responsibilities. This offering includes the opportunity to acquire the sub-leasehold interest in the underlying land, subject to a ground lease with Target that runs through 2042. The property has excellent visibility and accessibility, with close proximity to Airport Way (52,100 VPD) and Interstate 205 (160,000 VPD). Cascade Station is a premier retail corridor and mixed-use destination, home to the state's only !KEA, a high-traffic Target, and other prominent retailers. The 120-acre site features 800,000 square feet of retail, 1.2 million square feet of office space, and over 250 hotel rooms. Nearby national tenants include !KEA, Target, HomeGoods, Nordstrom Rack, and Staples. The 5,116 square foot property is situated in a 5-mile trade area with a population of over 329,000 and an average household income of $121,952.
Location Intelligence
Current Use by Public Records
Chipotle Mexican Grill
Restaurant
Similar Places Nearby
- Cascade Station — 9721-10243, NE Cascades Pkwy, Portland, OR 97220
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.565
- Latitude
- 45.5766
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Fully leased, two-tenant retail property with corporate-backed tenants and recent extensions.
Where is this shopping center located?
The property is located at 9687 Northeast Cascades Parkway Portland, OR.
What is the asking price?
The asking price for this property is $2,218,000.
What are key features of this property?
This property features: Fully leased to corporate‑backed tenants Chipotle and Wendy's, with recent lease extensions ensuring stable income.; Located in Cascade Station, a premier retail corridor and mixed‑use destination with high traffic.; Rare opportunity to acquire the sub‑leasehold interest in the underlying land.
