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402 N State St
Lake Oswego, OR 97034 Evergreen

$3,500,000 USD

Storefront For Sale  •  9,163 SF

Property Details

  • Property Type Storefront
  • Total Building Size 9,163 SF
  • Building Class C
  • Year Built 1925
  • Cap Rate 5.71 %
  • Tenancy Multiple
  • Zoning DD
35 Transit Score
90 Walk Score

Highlights

GENERATIONAL PROPERTY - The Rogers Building has not sold for more than 50 years.
GREAT EXPOSURE - The Rogers Building is ideally located at the entrance to downtown Lake Oswego, Portland’s most affluent suburb.
LONG TERM TENANTS (100% LEASED) - All tenants have been at the property for a number of years, 4 of them for more than 10 years.
SHORT TERM LEASES - Short leases enable owner-user investment or property redevelopment potential.
EXCELLENT VALUE ADD - The existing short-term leases will allow a new owner to increase income by marking rents to market, or incorporating NNN leases
OUTSTANDING DEMOGRAPHICS - 87,166 residents within 3-miles of the property with an average household income of $128,701.

Property Flyers

Cap Rate: 5.71 %

Amenities

  • Signage
  • Signalized Intersection
  • Wheelchair Accessible

Public Transportation

Commuter RailDriveWalkDistance
Tigard Transit Center (Westside Express Service - Tri-County Metropolitan Transportation District of Oregon Rail (TriMet Rail)) 15 min - 6.6 mi
Oregon City Amtrak (Amtrak Cascades - Amtrak) 15 min - 6.6 mi
AirportDriveWalkDistance
Portland International 33 min - 19.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Gary Griff 503-421-4121 Cushman & Wakefield of Oregon, Inc.
Gary Griff 503-421-4121 Cushman & Wakefield of Oregon, Inc.