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Listed by Keller Williams Realty Portland Premiere
$ 5,000,000
Est. payment | /mo
17,000 SqFt
$ 5,000,000
Est. payment | /mo
17,000 SqFt
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 17,000 sqft
Price per Sqft $294
MLS Listing ID 23225891
Year Built 1945
Annual Tax Amount $11,321
Tax Year 2024
Lot Size 0.280 Acres
Property Description
Low vacancy, full triple net multi-suite office building. Fully rebuilt (before they opened 1-1-2017) from the studs with all new systems. This building has low maintenance costs which are fully absorbed by the tenants.The property is leased under market value with primary tenancies producing tax exempt rent. Average remaining lease length is 3.5 years with several having 60 month options. The property is estimated to produce $18,659 of net income per month, across 12 suites. Leases range from $1.07/SF to $1.60/SF. The building is currently priced at a true cap rate of 4.48%
Location
State OR
County Yamhill
Area _156
Zoning C3
Interior
Heating Mini Split
Cooling Other
Equipment SmokeDetector
Exterior
View City
Roof Type Flat
Garage No
Building
Story 3
Sewer Public Sewer
Water Public Water
Level or Stories 3
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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