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422 SE 10th Ave

10,369 SF Retail Building Hillsboro, OR 97123 $2,000,000 ($193/SF) 7.50% Cap Rate

Retail Buildings Oregon Hillsboro 422 SE 10th Ave, Hillsboro, OR 97123

INVESTMENT HIGHLIGHTS

  • Just under 8 years remaining on absolute NNN lease
  • Attractive 10% fixed rent increases every 5 years
  • Corner location at signalized intersection
  • Corporate backed lease with The Aaron's Company, Inc.
  • Tenant paying below market rent at $1.20/sq. ft. NNN
  • Possible owner/user opportunity with tenant marketing the property for sub-lease

EXECUTIVE SUMMARY

Existing Aaron's store on a corporate backed that expires on 12/31/2032. The lease is absolute NNN with 10% fixed rent increases every 5 years with the next increase scheduled to occur January, 2027 that would increase the CAP rate to 8.25%. Corner location at a busy signalized intersection.

ATTACHMENTS

OM - Aaron's Hillsboro, Oregon New List Price

PROPERTY FACTS

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,369 SF
Building Class
B
Year Built
2004
Price
$2,000,000
Price Per SF
$193
Cap Rate
7.50%
NOI
$149,919
Tenancy
Single
Building Height
1 Story
Building FAR
0.43
Lot Size
0.55 AC
Zoning
SCC-DT - Existing zoning is "Station Community Commercial-Downtown"
Parking
20 Spaces (1.93 Spaces per 1,000 SF Leased)
Frontage
142 FT on SE 10th Ave

AMENITIES

  • Bus Line
  • Signage
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Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

NEARBY MAJOR RETAILERS

ColorTyme
the Human Bean
Black Rock Coffee Bar
Planet Fitness
Order Express, Inc.
Starbucks
Umpqua Bank
Heritage Bank
Dutch Bros
Elmer's

PROPERTY TAXES

Parcel Number R0323536 Improvements Assessment $0
Land Assessment $0 Total Assessment $1,397,560

PROPERTY TAXES

Parcel Number
R0323536
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,397,560
(650) 279-5790

CONTACT

  • Listing ID: 33760222

  • Date on Market: 11/5/2024

  • Last Updated:

  • Address: 422 SE 10th Ave, Hillsboro, OR 97123

More public record information on 422 SE 10th Ave, Hillsboro, OR 97123

The Downtown Hillsboro Retail Property at 422 SE 10th Ave, Hillsboro, OR 97123 is currently available. Contact Marcus & Millichap for more information.

RETAIL PROPERTIES IN NEARBY NEIGHBORHOODS

NEARBY LISTINGS

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422 SE 10th Ave, Hillsboro, OR for sale Building Photo- Image 1 of 8
Hillsboro Aaron's Photo 2
422 SE 10th Ave, Hillsboro, OR for sale Building Photo- Image 2 of 8
Hillsboro Aaron's Photo 3
422 SE 10th Ave, Hillsboro, OR for sale Building Photo- Image 3 of 8
Hillsboro Aaron's Photo 5
422 SE 10th Ave, Hillsboro, OR for sale Building Photo- Image 4 of 8
Hillsboro Aaron's Photo 6
422 SE 10th Ave, Hillsboro, OR for sale Primary Photo- Image 5 of 8
Primary Photo
422 SE 10th Ave, Hillsboro, OR for sale Building Photo- Image 6 of 8
Building Photo
422 SE 10th Ave, Hillsboro, OR for sale Plat Map- Image 7 of 8
Plat Map

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422 SE 10th Ave
(650) 279-5790 x

422 SE 10th Ave

Steve Sauter

(650) 279-5790

(650) 279-5790

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