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August 28, 2014

North Portland Goodwill store on market for $2.5M

Portland Business Journal

Alli Pyrah

The trust that owns the Goodwill store in North Portland has put the building on the market.

The 10,720-square-foot property, at 3134 N. Lombard St., is listed for $2.5 million with Mark Fraser of Kidder Mathews. The building is on 28,450 square feet of land.

It is on the market as a single tenant "net-net-net" property - a commercial investment leased to a business in a contract structure that requires the lessee to pay for net real estate taxes, net building insurance and net common area maintenance.

This type of deal can offer a property owner stable rental income while the tenant bears most operating costs.

Founded in 1902, Goodwill is a $4 billion nonprofit that helps people get back into the workplace. It has 165 independently run stores in the United States and Canada and had retail sales of $3.8 billion last year.

For the full story, go to Portland Business Journal .

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