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Home Depot at Marketplace 205 10052 SE Washington St

134,722 SF 52% Leased Retail Building Portland, OR 97216 $41,000,000 ($304/SF) 5.65% Cap Rate

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Investment Highlights

Home Depot just exercised two options early, resulting in an extension to January 2037
Investment-grade credit rating (S&P: A)
Freeway location at the corner of two major transportation routes connecting to I-205

Top-performing location ranked in the 87th percentile nationally (per Placer.AI)
Scheduled 7% rent increases every five years, including at the start of each of the 7, 5-year remaining extension options
High-density surrounding residential base with over 448,000 residents within a 5-mile radius, earning an average of $116,000 annually

Executive Summary

The Offering provides the rare opportunity to acquire The Home Depot at Marketplace 205, a regional shopping center located in Portland’s Gateway District. The Property is located at the intersection of I-84 and I-205, in a dynamic daily-needs trade area with high-density surrounding residential. This Home Depot is ranked in the 87th percentile and benefits from added draw from the adjacent Target, each ranked a "Top Performing Store" by Placer.ai; and is the only Home Depot and Target in a 4.5-mile radius, providing a far-reaching trade area. Home Depot has occupied the center since 2001 and recently extended their lease through 2037, with 7 remaining 5-year options and 7% contractual rent increases at every option period. The current owner of the center is redeveloping the adjacent former interior mall, with new leases executed by Burlington and Urban Air. A number of other LOI’s have been executed and are in the works that will provide additional draws to the center. Please follow this link for more information: https://hubs.la/Q02XdFsT0

HomeDepotatMarketplace205-Portland-OR-Loopnet

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Storefront

Building Size

134,722 SF

Building Class

Year Built/Renovated

1971/2002

Price

$41,000,000

Price Per SF

$304

Cap Rate

5.65%

NOI

$2,316,500

Percent Leased

52%

Tenancy

Multiple

Building Height

1 Story

Loading Docks

8 Exterior

Building FAR

0.25

Land Acres

12.47 AC

Opportunity Zone

Yes

Zoning

Parking

907 Spaces (6.73 Spaces per 1,000 SF Leased)

Frontage

851 FT on 96th Ave

Amenities

Freeway Visibility

Signage

Signalized Intersection

Air Conditioning

Space Availability

1st Floor
56,470 SF
Retail
In-Line
Now

• RARE LARGE FORMAT BOX SPACE AVAILABLE; 88,535 SF • STRONG RETAIL CORRIDOR • ABUNDANT PARKING • CLOSE PROXIMITY TO I-205 • ANCHORED BY TARGET AND HOME DEPOT

10100
88,535 SF
Retail
In-Line
Now

• RARE LARGE FORMAT BOX SPACE AVAILABLE; 88,535 SF • STRONG RETAIL CORRIDOR • ABUNDANT PARKING • CLOSE PROXIMITY TO I-205 • ANCHORED BY TARGET AND HOME DEPOT