4325 82Nd AvePortland, OR 97206

For Sale
$4,775,000

High-yield Walgreens NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
94
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.

Highlights

  • Recently extended Walgreens lease through April 30, 2034, with six 5-year renewal options; no rent reduction.
  • Excellent location near Portland Community College, Multnomah University, Oliver P. Lent Elementary School, Adventist Health Portland, and high-traffic areas with 465,078+ people within a 5-mile radius.
  • NNN lease with minimal landlord responsibilities; new roof installed in 2017 with a 25-year transferable warranty.
  • High visibility at a signalized intersection with 40,238 vehicles daily, plus proximity to I-205 (161,918 vehicles daily).
  • Corporate guarantee from Walgreens Boots Alliance, a major national retailer.
  • Proximity to Portland International Airport.

Property Details for 4325 82Nd Ave

Property type
Other retail properties, Restaurants
Square Feet
13,905 SF
Class
A
Year Built/Renovated
1997/2017
Buildings
1
Lot Size (sq. ft)
60,984 SF
Units
1

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.490719
Longitude
-122.5794624
4325 82Nd Ave, Portland, Oregon

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4325 82Nd Ave
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