1225 Hogan DrGresham, OR 97030

For Sale
$1,600,000

High-Yield Multi-Tenant Retail Property

Overview

Added:
Dec 11, 2024
Days on market:
93
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.

Highlights

  • Excellent location with high visibility.
  • Below-market rental rates offer significant value-add potential.
  • Generous land parcel size allows for expansion or redevelopment opportunities.

Property Details for 1225 Hogan Dr

Property type
Other retail properties, Individual retail properties
Square Feet
3,848 SF
Buildings
1
Stories
1
Units
2

Location Insight

City
Gresham
County
Multnomah
State
Oregon
Latitude
45.5060342
Longitude
-122.4144868
1225 Hogan Dr, Gresham, Oregon

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1225 Hogan Dr
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