1990 Powell Blvd Gresham, OR 97080
- Retail properties
- 15,850 SF
- 4.62 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1990 Powell Blvd
- Year built
- 1990
- Lot size
- 4.62 lot acres
- Property size
- 15,850 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 15,850-square-foot auto dealership situated on a 4.62-acre lot in Gresham, Oregon. Located at 1990 E Powell Blvd, this single-story, 1990-built property underwent renovations in 2020. Currently vacant, the property boasts a strong lease history with a credit-rated tenant, with the lease expiring January 31, 2026. The Net Lease (NNN) agreement features a remaining term of approximately 1.2 years and a monthly rent of $30,000. The property's strong financial performance is reflected in its $360,000 Net Operating Income (NOI) and a 5.56% cap rate. The property is zoned MC (Moderate Commercial), offering flexibility for various redevelopment options. Its prime location on E Powell Blvd, a major arterial road with approximately 115,698 average daily traffic, ensures high visibility and accessibility. Proximity to several retail centers, including Powell Valley Junction and Gresham Village, further enhances its appeal. This turnkey automotive property presents a compelling investment opportunity for both owner-users and investors seeking a high-traffic, strategically located asset with significant redevelopment potential. The asking price is $6,475,000, translating to $408.52 per square foot. The property includes a first right of refusal to sale lease option.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gresham
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.412
- Latitude
- 45.4956
