Available For Sale - Retail

30,640 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
30,640 SF
Price/SF
Show Pricing $
Listing ID
SA503080
Notes


INVESTMENT OVERVIEW



Graystone Capital is pleased to present the rare opportunity to purchase the McMinnville Towne Center; a 30,640 SF stabilized neighborhood center located in McMinnville,

OR. The property boasts 412’ of frontage along the busy 21,923 VPD Highway 99, the city’s primary thoroughfare. Additionally, the property sits within a bustling retail

corridor, shadow-anchored and surrounded by numerous credit tenants, including Harbor Freight, Goodwill, Joann Fabric, Planet Fitness, Staples, UPS, One Point Credit

Union, Dutch Bros Coffee, Starbucks, Chase Bank, McDonald’s, and IHOP.

This asset is perfect for an investor looking for a stabilized investment, with NNN leases and a track record of high occupancy. A potential investor will also enjoy no nearterm lease rollover and a Jimmy John’s pad with attractive rental increases. In addition to the center’s 100% occupancy, all leases benefit from below-market, sustainable

rents. Overall, this property represents a well-positioned cash-flowing investment, with opportunities to extract greater returns over the medium to long-term.



Property Highlights

• Stabilized Neighborhood Center with Below Market Rents

• Jimmy John’s Pad with Attractive Rental Increases

• Stable Cashflow Asset with NNN Leases & Historical High Occupancy

• 100% Occupied Property with NO NEAR-TERM LEASE ROLLOVER

• Terrific Visibility Along the 21,923 VPD Highway 99

• Strong Demographics - 36,082 people within 3

miles/47,483 people within 5 miles

• Shadow Anchored by Major Credit Tenants Including:

Harbor Freight, Goodwill, Joann Fabric, Planet Fitness, Staples, UPS, One Point Credit Union, Dutch Bros Coffee, Starbucks, Chase Bank, McDonalds, and IHOP



PROPERTY SUMMARY

Property Name: McMinnville Town Center

Property Address: 1421 & 1461-1661 Northeast Highway 99, McMinnville, OR 97128

APN: R4416AB 00101

GLA 30,640

Lot Size* 3.3 AC / 143,748 SF

Occupancy 100.00%

Purchase Price $6,560,000

CAP Rate 6.25%

Pro Forma Cap Rate 6.53%

Building Price Per SF $214.10

Lot Price Per Lot SF $45.64



*Lot Size Does not Reflect Sub-Parcelization of Chase Bank and Starbucks Out-pads | Not a Part of Offering
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Matt Hardke, Graystone Capital Advisors