4325 82nd Ave Portland, OR 97266-2919

Property Details for 4325 82nd Ave

Year built

1999

Lot size

0.98 lot acres

Property size

13,730 SF

Zone code

CG

Property type

Retail space

APN

1S2E08DD 05800

APU

1S2E08DD05800

Description

This exceptional investment opportunity presents a fee-simple ownership of a 13,905 square foot Walgreens located at 4325 SE 82nd Ave, Portland, OR 97206. The property sits on a 1.4-acre lot and boasts a Class A rating. Currently operating under a triple-net (NNN) lease with Walgreens Boots Alliance, a credit-rated tenant with a corporate guarantee, this property offers a secure and passive income stream. The lease, originally commencing May 2, 1997, has been recently extended through April 30, 2034, with six 5-year renewal options. This provides a remaining lease term of approximately 10 years. The property features a 7.40% cap rate and a net operating income (NOI) of $353,312, with an asking price of $4,775,000 ($343.40/sq ft). Built in 1997 and renovated in 2017 (including a new roof with a 25-year transferable warranty), the property benefits from excellent visibility at a high-traffic intersection (40,238 vehicles daily) and proximity to Interstate 205 (161,918 vehicles daily), Portland Community College, Multnomah University, Oliver P Lent Elementary School, and Adventist Health Portland. The location is in a densely populated area (465,078+ people within a 5-mile radius) with strong projected population growth. The Walgreens store reports over $8.35 million in total store sales. This is a prime investment opportunity for those seeking a stable, high-performing asset with a long-term lease and strong tenant.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.579

Latitude

45.4906

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments