Current Use by Public Records
- Lifestyle centers
Property Details for 993 Kane Dr
- Year built
- 1983
- Lot size
- 1.38 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a single-tenant, 8,000 square foot shopping center located at 993 NE Kane Dr, Gresham, Oregon, 97030. The property, built in 1983 and renovated in 2019, sits on a 1.38-acre lot and boasts a fee-simple ownership structure. Currently occupied at 100% capacity by a long-established business under a triple-net (NNN) lease, this asset offers a secure and passive income stream. The lease features a remaining term of five years with a 5.54% cap rate and a net operating income (NOI) of $180,000. The asking price is $3,250,000, translating to a price per square foot of $406.25. The property is zoned RTC and benefits from a prominent hard corner location, presenting significant potential for future redevelopment and value appreciation. The current lease includes annual rent increases of 3%, providing consistent growth in rental income. This is a rare opportunity to acquire a stable, high-performing retail investment in a desirable location with substantial long-term upside. The single-story building offers ease of management and minimal operational complexities. This is an ideal investment for those seeking a low-maintenance, high-return property with significant future potential.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Gresham
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.401
- Latitude
- 45.5045
