442 Baseline St Cornelius, OR 97113

Property Details for 442 Baseline St

Year built

2025

Lot size

0.68 lot acres

Property size

3,000 SF

Property type

Banks

APN

1N333CD-03600

Description

This exceptional investment opportunity presents a 3,000 square foot Chase Bank located at 442 W Baseline St, Cornelius, OR 97113. The property sits on a 0.68-acre lot with 20 parking spaces and benefits from Highway Commercial (C-2) zoning. A brand new 15-year NNN lease with JPMorgan Chase Bank commenced April 1, 2025, and expires April 1, 2040, offering a remaining term of 15.4 years. The lease includes four 5-year renewal options, with 10% rent increases every five years throughout the initial term and scheduled increases of 10% or more at the start of each option period. This provides a stable, inflation-hedged income stream. The property boasts a 4.50% cap rate and a Net Operating Income (NOI) of $135,000. The asking price is $3,000,000. This prime retail location enjoys high visibility on a major thoroughfare, benefiting from significant daily traffic counts exceeding 39,900 vehicles at the intersection of W Baseline St and N 4th Ave. The property's strategic location is further enhanced by its proximity to a large Walmart Supercenter and a Fred Meyer-anchored shopping center featuring numerous national tenants. The surrounding area boasts strong demographics, including an affluent population with an average household income of $113,424 within a 5-mile radius, encompassing over 78,000 residents and 26,118 employees. The property's location near Pacific University also contributes to its strong potential. This is a low-management investment opportunity with minimal landlord responsibilities, making it ideal for passive investors seeking a secure and appreciating asset. The APN is 1N333CD-03600.

Location Insight

City

Cornelius

County

Washington

State

Oregon

Longitude

-123.0664628

Latitude

45.5203804