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2490 NE Highway 99W
56,379 SF Retail Building Offered at $14,420,673 at a 5.35% Cap Rate in McMinnville, OR
- Absolute Net Lease has no landlord responsibilities whatsoever
- Corporate guarantee from the second-largest traditional grocer in the United States
- Anchor of large shopping center along main McMinnville Highway with traffic counts in excess of 20,400 vehicles per day
- Plaza has multiple points of ingress/egress allowing easy access
- Located in dense retail area surrounded by 25+ national retailers like Walmart, WinCo, Joann Fabrics, Goodwill, Dollar Tree, and more
- Number of households in the area has increased by over 30% Since 2000 and household Income Increased by over 20%
The Offering Under Contract
|Price Per SF||$256||Lot Size||5.10 AC|
|Sale Type||Investment||Gross Leasable Area||56,379 SF|
|Cap Rate||5.35%||No. Stories||1|
|Sale Conditions||Investment Triple Net||Year Built||1998|
|Property Sub-type||Supermarket||Parking Ratio||10/1,000 SF|
About 2490 NE Highway 99W , McMinnville, OR 97128
The subject property is a Safeway location guaranteed by their corporate parent company, Albertsons Companies, Inc. The property is an anchor in McMinnville Plaza, an 18-acre shopping center directly off Oregon Route 99 in McMinnville, Oregon. The Plaza includes other anchors like JC Penney, Ross Dress For Less, Petco, and a new Marshalls set to open in Fall 2019. The surrounding area is dense with other national retailers like Walmart, WinCo, JoAnn Fabrics, Goodwill, Subway, and more. Directly east of the subject property is the Cascade Steel Rolling Mills, a Schnitzer Steel Industries company, employing over 400 people. Oregon Route 99 is the main highway cutting directly through McMinnville and connecting the city to both Portland to the north and Salem to the south, each within an hour’s drive. Albertsons Companies, Inc: Corporate Guarantee from Albertsons Companies, Inc., the second-largest traditional grocer in the United States with $60.5 Billion in revenue for 2018. Albertsons Companies is the third-largest, private company in the US as of 2018 and sees approximately 34 million customers per week. There are over 2,200 stores in 34 states and the District of Columbia under 21 well-known banners. They have 270,000 employees nationwide.
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Talent Base and Commute Times
NNN Tenant Information
|Tenant||SF Occupied||Lease End Date|
Nearby Major Retailers
|Collection Street||Cross Street||Traffic Vol||Year||Distance|
|NE Hwy 99W||E 27th St, E||17,613||2012||0.13 mi|
|State Hwy 99W||NE Grandhaven Dr, E||14,178||2018||0.13 mi|
|Hwy 156||Fairgrounds Dr, NE||10,200||2015||0.19 mi|
|NE Hwy 99W||NE Doran Dr, E||27,877||2012||0.37 mi|
|State Hwy 99W||NE Doran Dr, E||18,800||2016||0.37 mi|
About the Seller
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