Absolute NNN | 1200 SE 1st St
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Absolute NNN 1200 SE 1st St
6,000 SF Retail Building Ontario, OR 97914 $3,401,928 CAD ($567 CAD/SF) 8.66% Cap Rate
Investment Highlights
- Brand new facility
- Oregon's largest cannabis retailer with sales north of $100MM annually
- Easy access for the Boise Metro Area's large population base
- Built to be multi-tenant if needed in the future
- 47+ locations in Oregon, California and Ohio
Executive Summary
SALE LEASEBACK. New 10-year lease at closing with five 5-year options. Absolute NNN lease (2% annual increases) with Oregon's largest cannabis retailer. Sales in excess of $100MM. 40+ branded retail locations in Oregon alone. They operate 7 additional retail locations in California and Ohio. Completely vertical from farm to store. This location services NE Oregon and the Boise Metro Area (Treasure Valley). Boise's large population base is lured by Oregon's sales tax-free status for retail shopping in addition to access to cannabis. New lease will be provided by the seller/tenant.
Financial Summary (Actual - 2022) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$294,692
|
$49.12
|
Financial Summary (Actual - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $294,692 |
| Annual Per SF | $49.12 |
Property Facts
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
6,000 SF
Building Class
B
Year Built
2022
Price
$3,401,928 CAD
Price Per SF
$567 CAD
Cap Rate
8.66%
NOI
$294,692 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.36
Land Acres
0.38 AC
Zoning
C - Retail cannabis allowed in this location.
Parking
32 Spaces (5.33 Spaces per 1,000 SF Leased)
Frontage
100 ft on 1st Street
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Nectar
- Retailer
- 6,000 SF
- $49.12 CAD
- Net
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Nectar | Retailer | 6,000 SF | $49.12 CAD | Net | - |
PROPERTY TAXES
| Parcel Number | 3311 | Improvements Assessment | $566,475 CAD (2023) |
| Land Assessment | $61,162 CAD (2023) | Total Assessment | $627,637 CAD (2023) |
PROPERTY TAXES
Parcel Number
3311
Land Assessment
$61,162 CAD (2023)
Improvements Assessment
$566,475 CAD (2023)
Total Assessment
$627,637 CAD (2023)
-
Bud Hosner -
Russell Hosner LLC
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Absolute NNN | 1200 SE 1st St
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