13116 NE Sandy Shopping Center | 13116 NE Sandy Blvd
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13116 NE Sandy Shopping Center 13116 NE Sandy Blvd
17,480 SF 100% Leased Retail Building Portland, OR 97230 £2,077,540 (£119/SF) 7.56% Net Initial Yield
Investment Highlights
- Property is 100% leased
- Significant potential for increased returns through raising rents
- The adjacent lot is available and must close simultaneously. Listed at $500,000.
- Great exposure on a busy street
- The strip mall features a diverse mix of tenants, impressive curb appeal, and ample parking
Executive Summary
OPPORTUNITY FOR EXPANSION: A framed and roofed 350 sq. ft. storage room can be converted into RENTABLE SPACE.: 350 Sq. Ft storage, which is framed and roofed could be finished into additional Rentable Square Footage.
This property is available for sale only in conjunction with the neighboring corner lot, and both transactions will occur simultaneously. The property is an owner-managed income property, consisting of a well-maintained strip mall with 8 tenants across 2 buildings, all of whom are currently fully leased. There is significant potential for increased returns through raising rents, as the current lease rates are below market value. Situated on a highly visible location along a bustling arterial street, just minutes away from Costco, this property boasts excellent accessibility via Sandy Blvd and NE 131st Ave. With ample street frontage and prominent visibility, it presents an attractive investment opportunity. This property also offers a favorable return on investment and has the potential for increased income through additional investment, such as expanding into the adjacent vacant lot. The strip mall features a diverse mix of tenants, impressive curb appeal, and ample parking, making it a compelling investment option.
This property is available for sale only in conjunction with the neighboring corner lot, and both transactions will occur simultaneously. The property is an owner-managed income property, consisting of a well-maintained strip mall with 8 tenants across 2 buildings, all of whom are currently fully leased. There is significant potential for increased returns through raising rents, as the current lease rates are below market value. Situated on a highly visible location along a bustling arterial street, just minutes away from Costco, this property boasts excellent accessibility via Sandy Blvd and NE 131st Ave. With ample street frontage and prominent visibility, it presents an attractive investment opportunity. This property also offers a favorable return on investment and has the potential for increased income through additional investment, such as expanding into the adjacent vacant lot. The strip mall features a diverse mix of tenants, impressive curb appeal, and ample parking, making it a compelling investment option.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
17,480 SF
Building Class
C
Year Built
1968
Price
£2,077,540
Price Per SF
£119
Net Initial Yield
7.56%
NOI
£157,008
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Loading Docks
1 Exterior
Building FAR
0.29
Lot Size
1.38 AC
Zoning
CM1, Portland - CM1 zoning allows for a multitude of uses.
125 feet of frontage along NE Sandy Blvd and 185 feet of frontage along NE 131st Ave
Parking
72 Spaces (4.12 Spaces per 1,000 SF Leased)
Frontage
125 ft on NE Sandy Blvd
Amenities
- Bus Route
- Pylon Sign
- Signage
Bike Score ®
Very Bikeable (73)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
8,806
86,680
319,458
601,698
2029 Population
8,577
85,012
318,173
597,811
2024-2029 Projected Population Growth
-2.6%
-1.9%
-0.4%
-0.6%
Median Age
42.6
41.1
40.4
39.1
College Degree + Higher
33%
27%
32%
25%
Daytime Employees
10,499
50,609
148,862
335,016
Total Businesses
920
5,544
17,282
41,578
Average Household Income
$86,981
$81,330
$92,573
$96,531
Median Household Income
$66,762
$63,021
$70,947
$74,015
Total Consumer Spending
$103.3M
$1B
$4B
$7.9B
2024 Households
3,256
33,293
121,899
242,220
Average Home Value
$463,959
$445,112
$485,671
$516,990
$ values in USD
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £1,383,942 (2023) | |
| Land Assessment | £0 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £0 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£0 (2023)
Improvements Assessment
£0 (2023)
Total Assessment
£1,383,942 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
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13116 NE Sandy Shopping Center | 13116 NE Sandy Blvd
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