Winston Shopping Center

NAI Elliott, as exclusive advisor, is pleased to offer for sale Winston Shopping Center, a 35,318 square foot value add retail center located at the dominant traffic intersection of Winston, OR. The property sits at the confluence of NW Douglas St (Highway 42) and SE Main Street (Highway 99) with nearly 14,000 cars passing the center daily.
Winston Shopping Center was built in 1964 on 3.22 acres and is divided into four buildings on seven tax parcels that vary in size. The property currently functions as one single center with no existing covenants, conditions, and restrictions (CC&Rs) among the buildings. The asphalt paved parking lot has 102 parking spaces with five access points, one pylon sign on Highway 42 and one property sign on Highway 99. The property features approximately 400 lineal feet of frontage along Highway 42 with one point of access to Highway 99 north of the Astro gas station (not a part).
The property dominates the value add marketplace for its value proposition. Available at $45 per square foot of building ($11.83/SF dirt), Winston Shopping Center is the only private-capital investment property presently available for sale on the West Coast below $50 per square foot. With in-place rents averaging $5.04 per square foot annually double net and one 9,650 square foot existing vacancy, the property enables two separate, synergistic value add opportunities. Furthermore, the shopping center rests on 3.22 acres of land within the General Commercial (C-G) zone, a highly flexible zoning code that allows for a wide variety of permitted uses.