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Home Depot NN

1728 North Tomahawk Island Drive · Portland, OR 97217 · Grocery / Big Box

Asking price
$41,045,000
Cap rate
5.35%
NOI
$2,195,897

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Lease

Lease typeNN
Term remaining10.5 yrs
Expiration01/2037
Rent bumps9.90% rent increase in 2032. Three 5-year renewal options with 9% rent increase in option 1, then
OptionsThree 5-Year Options
Ground leaseNo
Credit profileCredit Rated
TenancySingle

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Property

Building SF106,500
Price / SF$385
Year built1995
Lot size9.28 ac
TypeStorefront, Shopping Center
Days on market59

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Investment highlights

  • ​The Home Depot, Inc. (NYSE: HD, S&P: A), together with its subsidiaries, is the world's largest home improvement specialty retailer. The company employs 475,000 people and operates more than 2,300 retail stores throughout the United States, Canada and Mexico. For fiscal year 2025, the company reported $164.7 billion in net sales, $14.2 billion in net income and $105.1 billion in total assets as of February 1, 2026. The Tenant under the lease—Home Depot U.S.A., Inc.—is a wholly-owned subsidiary of The Home Depot, Inc.
  • ​Home Depot's net lease features ±10.7 years of primary term remaining with a 9.90% rent increase in 2032. Additionally, the lease features three, 5-year renewal options with a 9% rent increase in the first option, then 10% in the second and third options.
  • ​The Home Depot is part of the larger 743,227-square-foot Jantzen Beach Center, which is one of the only major shopping centers in the region. Located on Hayden Island in the Columbia River, Jantzen Beach Center serves as a major retail destination strategically positioned on the border of Oregon and Washington. Its location off Interstate 5 makes it a primary stop for Washington residents seeking tax-free shopping in Oregon. The center is home to big box retailers like Target, Dick's Sporting Goods, Best Buy, Ross, Burlington, T.J. Maxx, Sierra Trading Post, Homegoods, Michaels, Ashley Homestore and Ulta Beauty, to name a few. By visits, Jantzen Beach Center ranks among the top 8% of shopping centers nationwide and is within the top 7% of shopping centers in the state of Oregon (Placer.ai). To learn more about Jantzen Beach Center, visit page 8.
  • ​Located 8.4 miles north of downtown Portland, Home Depot is positioned with excellent access and visibility between the Columbia River and Interstate 5 (115,100 VPD), giving it strong regional connectivity between Portland, OR and Vancouver, WA. Its proximity to the Interstate Bridge and I-5 Exit 308 allows direct north-south access for both residential consumers and professional contractors.
  • ​The Home Depot is within Portland's primary retail and commercial corridor with 4.9 MSF of retail, 5.0 MSF of office and 14,676 multifamily units within a 3-mile radius. Additional retailers in the surrounding area include Lowe's Home Improvement, Floor & Decor, Fred Meyer, La-Z-Boy, Guitar Center, Mor Furniture for Less, Fisherman's Marine & Outdoor, Dollar Tree, Verizon, Red Robin, McDonald's, Taco Bell, Starbucks, Panda Express, Burger King, Carl's Jr and The UPS Store, to name a few.
  • ​The site is surrounded by 23.1 MSF of industrial and is near the Portland Harbor industrial corridor, a historically significant employment and logistics zone supporting long-term commercial activity.
  • ​The Home Depot is proximate to several major points of interest including Columbia River Waterfront & Hayden Island Marinas (1.4 miles east), Delta Park & Owens Sports Complex (2.0 miles south), Portland International Raceway (2.4 miles south), Portland Expo Center (2.5 miles south), Columbia Edgewater Country Club (3.8 miles east), Riverside Golf & Country Club (5.5 miles southeast), University of Portland (6.4 miles southwest) and Portland International Airport (10.4 miles east), among many others.
  • ​The site benefits from affluent demographics with a population of 75,006 and an average annual household income of $111,907 within a 3-mile radius. Additionally, there are nearly 4,425 households within a mile, placing a significant built-in customer base within close proximity.
  • ​The Portland-Vancouver-Hillsboro, OR-WA Metropolitan Statistical Area (also commonly referred to as 'Greater Portland') spans 7 counties and 2 states and boasts a population of 2.60M+. The region serves as a prime West Coast location that boasts access to three ports and one of America's best airports. Greater Portland is known for its diverse economy, vibrant culture and access to natural beauty, including the Columbia River Gorge and Mount Hood. The region is home to a deep pool of skilled workers across diverse industry sectors.

Property overview

CBRE is pleased to offer for sale the 106,500-square-foot Home Depot situated on 9.28 acres in Portland, Oregon (MSA Population: 2.6M+).​ Home Depot's net lease features ±10.7 years of primary term remaining with a 9.90% rent increase in 2032.​ Additionally, the lease features three, 5-year renewal options with a 9% rent increase in the first option, then 10% in the second and third options.​

The Home Depot is part of the larger 743,227-square-foot Jantzen Beach Center, which is one of the only major shopping centers in the region.​ Located on Hayden Island in the Columbia River, Jantzen Beach Center serves as a major retail destination strategically positioned on the border of Oregon and Washington.​ Its location off Interstate 5 makes it a primary stop for Washington residents seeking tax-free shopping in Oregon.​ The center is home to big box retailers like Target, Dick's Sporting Goods, Best Buy, Ross, Burlington, T.​J.​ Maxx, Sierra Trading Post, Homegoods, Michaels, Ashley Homestore and Ulta Beauty, to name a few.​ By visits, Jantzen Beach Center ranks among the top 8% of shopping centers nationwide and is within the top 7% of shopping centers in the state of Oregon (Placer.​ai).​

Located 8.4 miles north of downtown Portland, Home Depot is positioned with excellent access and visibility between the Columbia River and Interstate 5 (115,100 VPD), giving it strong regional connectivity between Portland, OR and Vancouver, WA.​ Its proximity to the Interstate Bridge and I-5 Exit 308 allows direct north-south access for both residential consumers and professional contractors.​

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.