Magic City Garage
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Magic City Garage
3,760 SF Retail Building Gresham, OR 97030 $990,000 ($263/SF) 9.19% Cap Rate
Executive Summary
-Zoned Heavy Industrial, It features a 0.51-acre lot with three structures: a grandfathered residential house, a mechanic space/garage, and an additional garage.
-The current tenant is Magic City Garage, specializing in performance tuning and mechanical repairs.
-Strong local synergy with other repair shops enhances lease stability and ensures optimal use of the space.
-The lease (abstracted within the Offering Memorandum) outlines minimal landlord responsibility.
-The current tenant is Magic City Garage, specializing in performance tuning and mechanical repairs.
-Strong local synergy with other repair shops enhances lease stability and ensures optimal use of the space.
-The lease (abstracted within the Offering Memorandum) outlines minimal landlord responsibility.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
3,760 SF
Building Class
C
Year Built/Renovated
1988/2019
Price
$990,000
Price Per SF
$263
Cap Rate
9.19%
NOI
$91,024
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.52 AC
Opportunity Zone
Yes
Zoning
HI - Zoned Heavy Industrial, It features a 0.51-acre lot with three structures: a grandfathered residential house, a mechanic space/garage, and an addition
Parking
35 Spaces (9.31 Spaces per 1,000 SF Leased)
Frontage
75 FT on Eleven Mile Avenue
Amenities
- Fenced Lot
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Magic City Garage
- Services
- 3,760 SF
- -
- Double Net
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Magic City Garage | Services | 3,760 SF | - | Double Net | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R303196 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $177,630 |
PROPERTY TAXES
Parcel Number
R303196
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$177,630
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Magic City Garage
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