This property has sold.

Details: Retail

Asking Price: $7,873,000

Square Feet: 84,250 SF

Asking Cap Rate: 8.25%

Year Built: 1975

NOI: $649,546

SOLD – Portland Village

112 West Knight Street, Portland, TN


  • Grocery anchored center in one of the leading MSA’s in the country
  • 94% occupied
  • Strong Cash Saver sales at $9,688,489 ($323psf) putting the grocer at a health ratio of 2.1%. Cash Saver’s sales increased 21% from 2019 to 2020
  • Strong traffic counts with 19,098 VPD on Hwy 109 and 13,380 VPD on Knight Street
  • Current tenant mix has been in the center for an average of 11.7 years
  • The roof for Cash Saver, Family Dollar and Planet Fitness is TPO 2012. The rest of the center was recoated in 2016.
  • Sonic is a separate parcel and can easily be spun off, which creates immediate upside


  • 80% of the GLA is made up of National Tenants and Regional Tenants
  • E-Commerce resistant tenant mix with 88% of GLA made up of grocery and non-soft goods retail
  • Cash Saver has been the anchor tenant since 1997
  • Recent leases with Family Dollar and Planet Fitness shows the leasing demand for the market
  • New LED lighting
  • Located on Portland’s primary retail corridor
  • Hwy 109 is the most heavily traveled road in the Portland market with 19,098 cars daily
  • Internet resistant tenant mix with grocer, restaurants, and gym

This property has sold.