Current Use by Public Records
- Retail properties & Spaces
Property Details for 902 Or-82
- Year built
- 2024
- Lot size
- 2.34 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 10,640 square foot Dollar General store located in Wallowa, Oregon, on a 2.34-acre lot. The property boasts a 15-year absolute NNN lease commencing May 12, 2024, and expiring May 30, 2039, with a remaining term of approximately 14.6 years. The lease includes 5% rent increases every five years, providing consistent income growth. The tenant, Dollar General Corporation, provides a corporate guarantee, minimizing risk. The property's strong financial performance is reflected in a 6.50% cap rate and a net operating income (NOI) of $174,996. Built in 2024, this single-tenant property is situated on a high-traffic retail corridor, benefiting from proximity to Wallowa High School and the Wallowa-Whitman National Forest, attracting both local and tourist traffic. The property's prime location at the intersection of Frontage Road and State Route 82 ensures excellent visibility and accessibility. This is an ideal investment for passive or out-of-area investors seeking a low-management, high-return opportunity. The property is offered at an asking price of $2,692,000 and is suitable for a 1031 exchange.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wallowa
- County
- Wallowa
- State
- Oregon
- Longitude
- -117.539
- Latitude
- 45.5796
