1225 Hogan Dr Gresham, OR 97030
- Retail properties
- 3,848 SF
Current Use by Public Records
- Retail properties
Property Details for 1225 Hogan Dr
- Property size
- 3,848 SF
- Property type
- Retail properties
- Property subtype
- Bars
Description
This exceptional value-add retail property in Gresham, Oregon, presents a compelling investment opportunity. Located at 1225-1245 NE Hogan Dr, 97030, this single-story, 3,848 square foot building sits on a 0.57-acre lot and boasts a 100% occupancy rate with two tenants. The property features a bar and a convenience store, operating under a triple-net (NNN) lease structure. Built in 1973, the property benefits from high visibility and convenient access on Hogan Drive in Multnomah County. The current cap rate stands at 7.04%, and the asking price is $1,600,000. This multi-tenant retail strip offers below-market rents, presenting significant potential for increased revenue. The property is ideally suited for a 1031 exchange. One tenant operates a lottery bar with six machines. The property's large parcel size provides additional development potential. This is a rare chance to acquire a well-located, high-performing retail asset in a thriving market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gresham
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.414
- Latitude
- 45.506
