Current Use by Public Records
- Retail properties & Spaces
Property Details for 11606 Pacific Hwy
- Property type
- Retail properties & Spaces
Description
This exceptional 6,800 square foot retail space is located in the thriving Tigard submarket, boasting a strong performance record. The property is a single-tenant building, offering a unique opportunity for a variety of businesses, including tattoo parlors, auto shops, convenience stores, markets, or furniture showrooms. The Tigard retail submarket demonstrates remarkable stability, with a current vacancy rate of 2.8% as of Q4 2024, mirroring the rate from the previous year. This consistent performance is underscored by 46,000 square feet of net absorption against 44,000 square feet of net delivered space over the past year. The submarket's current vacancy rate significantly underperforms its five-year (3.5%) and ten-year (3.3%) averages, indicating a robust and resilient market. Further highlighting the area's strength, the submarket currently has approximately 230,000 square feet of available space, representing a 3.3% availability rate. Looking ahead, there are 58,000 square feet of retail space currently under construction, slightly above the ten-year average of 51,000 square feet. The Tigard retail submarket comprises approximately 6.9 million square feet of total inventory, providing context for the significant opportunity presented by this 6,800 square foot property. This property offers a rare chance to establish a business in a highly sought-after, stable, and growing retail environment.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tigard
- County
- Washington
- State
- Oregon
- Longitude
- -122.753
- Latitude
- 45.4386
