LEASABLE SQ FT
1863 Main Ave N, Tillamook , OR 97141
Subway Retail Center
- Fully leased two-tenant retail strip occupied by a Subway drive-thru and Maria’s Tacos.
- Early executed 5-year option by Subway extending the lease through June 2028.
- Attractive assumable debt at 4% interest, fixed for 10 years with 8 years remaining. The current loan balance is $667,662 with StanCorp.
- Subway operator is a successful, multi-unit franchisee with multiple locations along the Oregon Coast.
- Brand new remodel and expansion of the Subway, solely funded by the Tenant in 2018.
- Handful of recent capital improvements invested by Seller, including new HVAC, building expansion, and roof repair in 2015, as well as resealing the parking lot in 2019.
- Frontage on Highway 101 in Tillamook, Oregon, the west coast’s primary main north-south arterial.
- Tillamook has a strong tourism industry that includes the nearby Tillamook Cheese Factory; Tillamook saw a 30% increase in tourism dollars in the last several years.
Broker (Commercial)View Profile
Michael Lowesview profile