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Listed by Constant Commercial Real Estate Inc • 503-222-0282
$4,500,000
Est. payment /mo
17,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 17,000 sqft
Price per Sqft $264
MLS Listing ID 294269816
Year Built 1945
Annual Tax Amount $11,321
Tax Year 2024
Lot Size 0.280 Acres
Property Sub-Type Office
Property Description
Fully restored and renovated historic downtown McMinnville NNN, multi-tenant office building presents a compelling investment opportunity characterized by stable, 100% occupancy. Significantly renovated down to the concrete and studs in 2017, this property features all-new, ultra-efficient systems, including energy-saving windows, modern Daikin mini-split HVAC units, cost-effective LED lighting, a comprehensive alarm and camera system all under a brand-new, durable 50-year PVC roof. All major systems are entirely replaced, including new above and underground plumbing and electrical infrastructure. 7 on-site parking spots and additional public parking garage across the street. The full triple-net (NNN) lease structure ensures a streamlined management experience with all operating expenses, including the low maintenance costs associated with the new systems, being fully absorbed by the tenants. Investors will appreciate the upside market rental rates, along with the benefit of primary tenancies generating tax-exempt income. Seller willing to carry attractive terms with large down payment.
Location
State OR
County Yamhill
Area _156
Zoning C3
Interior
Heating Mini Split
Cooling Mini Split
Equipment SecuritySystem, Sprinkler
Exterior
Roof Type Flat
Garage No
Building
Story 3
Sewer Public Sewer
Water Public Water
Level or Stories 3
Others
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
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