Bought with RE/MAX HomeSource
$1,230,000
$1,550,000
20.6%For more information regarding the value of a property, please contact us for a free consultation.
7,080 SqFt
SOLD DATE : 08/29/2024
Key Details
Sold Price $1,230,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 7,080 sqft
Price per Sqft $173
MLS Listing ID 24043897
Sold Date 08/29/24
Year Built 1997
Annual Tax Amount $9,066
Tax Year 2023
Lot Size 0.920 Acres
Property Description
Discover an exceptional income opportunity at the intersection of HWY 101 and Wilson River Loop, adjacent to Fred Meyers and Shiloh Inn. At the heart of commercial activity with this prime location and boasting three expansive buildings on nearly an acre. A total of eight long-term tenants secured with 1, 3 and 5 year leases with 3% annual increases built-in, ensuring a reliable income stream. With a dedicated investment of over $225,000 in upgrades over the past eight years, including resilient metal roofs, refreshed paint and siding on building fronts, and updated, paved parking lot, this property provides longevity and quality. Built as a Super Good Sense property with 2x6 framing. Accessible with single-level layouts and ADA features, plus 49 parking spaces, and two parking lot entrances. Capitalize on the potential, as the seller believes current rents fall below market value, this corner stands poised for further development and expansion. Same, meticulous owners for 35 years.
Location
State OR
County Tillamook
Area _195
Zoning CH
Interior
Heating Forced Air, Heat Pump, Wall Furnace
Cooling Heat Pump
Equipment SmokeDetector
Exterior
View Mountain
Roof Type Metal
Garage No
Building
Story 1
Sewer Public Sewer, Septic Tank
Water Public Water
Level or Stories 1
Others
Acceptable Financing CallListingAgent, Cash, Contract, Conventional
Listing Terms CallListingAgent, Cash, Contract, Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP