Investment Highlights
Below Market Rents: The overall rents at the property are below market rates
Surrounded by National Retailers: The property is surrounded by numerous national retailer including Walmart, Jack in the Box, Arby?s, Autozone and Ma
Medical Hub: Peace Health Hospital, located less than a mile away, offers a potential customer base for medical tenants.
Renovations at the Property: The property has undergone a renovation, featuring a new roof and parking lot in 2022.
Walmart Parking Lot: Walmart has recently re-surfaced its parking lot and main access road to the center, showing its commitment to the location.
Rapid Growth: The area is rapidly growing. A new WOODSPRING SUITES hotel built across the street.
Executive Summary
Call for offers June 12th 2024!Keller Williams Realty Portland Central is pleased to present the Mill Plain Plaza Building A, a 13,800 SF retail building prominently situated on a pad in a Walmart-anchored center along the bustling SE Mill Plain BLVD. This property is located at the main access road to Walmart, and it is surrounded by an impressive array of national tenants, including Fred Meyer, Trader Joe's, Petco, AutoZone, Starbucks, Arby's, and more.Mill Plain Plaza Building A benefits from a mix of medical and retail tenants, most of which have been operating at this location for several years. Surrounding dense residential area, high traffic counts, and well-maintained ample parking, makes it a sought-after location for retail and medical businesses. The property's proximity to main highways I-205 and I-5 provides easy access to Portland downtown, the airport, Vancouver Waterfront and other locations of varied interests. This offering represents an excellent opportunity for investors looking to add a reliable and proven retail asset to their portfolio.This 7-unit retail building is 86% leased, with the end-cap unit#209 currently vacant. The seller will provide a rent guarantee for Unit 209 at $32 per square foot plus NNN until the earlier of a) the completion of the full 2 years from closing, or b) Unit 209 is rented out and rent payments have commenced. Previously, this unit was leased at $32 per square foot plus NNN.For more information or to schedule a property tour, please contact broker.
