389 Birch StPilot Rock, OR 97868
- Retail properties
- 10,500 SF
Property Details for 389 Birch St
- Year built
- 2022
- Lot size
- 1.70 AC
- Property size (Sq ft)
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
Exceptional investment opportunity: a 10,500 square foot, net-leased Family Dollar/Dollar Tree storefront in Pilot Rock, Oregon. Built in 2022, this property boasts a strong 8.50% cap rate and a substantial $127,995 net operating income (NOI). The investment-grade tenant (S&P: BBB) has a lease extending to June 30, 2032, with a $0.50 per square foot rent increase scheduled for July 1, 2027. Seller financing is available. Situated on a 1.7-acre lot at 389 SW Birch St, this property benefits from its location on a primary thoroughfare, serving a community with an average annual household income of $93,400 within a five-mile radius. The property is currently 100% occupied, despite the tenant's announced cessation of operations at this location, with rent payments continuing through the lease term. This presents a compelling value-add opportunity with a corporate guarantee from Family Dollar Stores, Inc. Pilot Rock's economy is anchored by lumber and agriculture, complemented by outdoor recreational opportunities. The property's strategic location and strong tenant covenant make it an attractive investment prospect.
Location Insight
- City
- Pilot Rock
- County
- Umatilla
- State
- Oregon
- Latitude
- 45.4801
- Longitude
- -118.835
Comparable in this City
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