1019 NE 122nd Ave
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1019 NE 122nd Ave
1,323 SF Retail Building Portland, OR 97230 $1,000,000 ($756/SF) 8.50% Cap Rate
Investment Highlights
- Heavy daytime traffic counts
- Absolute NNN no landlord responsibilities
- Off-street parking
- Excellent location in NE Portland
Executive Summary
Sale Leaseback with Oregon's largest cannabis retailer. Operating 47+ retail stores across Oregon, California and Ohio. 40+ in Oregon alone.
New 10-year lease signed at closing with 2% annual rate increases. Five 5-year options. Nectar operates multiple farms for a completely vertical cannabis operation. This location has been open since 2014. Has a strong history of income production and will continue to be an important location for Nectar. The sale leaseback strategy is being used to fund continued growth.
122nd Ave is a major artery in the Portland transportation system connecting I 84 with areas as far south as Powell Blvd.
New 10-year lease signed at closing with 2% annual rate increases. Five 5-year options. Nectar operates multiple farms for a completely vertical cannabis operation. This location has been open since 2014. Has a strong history of income production and will continue to be an important location for Nectar. The sale leaseback strategy is being used to fund continued growth.
122nd Ave is a major artery in the Portland transportation system connecting I 84 with areas as far south as Powell Blvd.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$85,000
|
$64.25
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$85,000
|
$64.25
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $85,000 |
| Annual Per SF | $64.25 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $85,000 |
| Annual Per SF | $64.25 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
1,323 SF
Building Class
C
Year Built/Renovated
1951/2014
Price
$1,000,000
Price Per SF
$756
Cap Rate
8.50%
NOI
$85,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.22 AC
Opportunity Zone
Yes
Zoning
CO1 - Cannabis approved with an opportunity for future multifamily redevelopment.
Parking
7.56 Spaces per 1,000 SF Leased
Amenities
- Bus Line
- Corner Lot
- Tenant Controlled HVAC
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Retailer
- 1,323 SF
- $64.25
- Triple Net
- Aug 2033
Marijuana dispensary with locations throughout the state of Oregon.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Retailer | 1,323 SF | $64.25 | Triple Net | Aug 2033 |
Walk Score®
Very Walkable (78)
Bike Score®
Biker's Paradise (94)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R177931 | Improvements Assessment | $0 (2023) |
| Land Assessment | $0 (2023) | Total Assessment | $190,410 (2023) |
PROPERTY TAXES
Parcel Number
R177931
Land Assessment
$0 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$190,410 (2023)
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1019 NE 122nd Ave
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