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    Historic "Belt Building" For Sale Title is generated by Realmo AI

    144 S Main St, Independence, OR

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    Iconic, renovated mixed-use building in downtown Independence, Oregon.

    Type:RETAIL
    Property size:
    5,150 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $203/SF
    Added:
    Dec 23, 2024
    Days on Market:
    539
    Last Refresh:
    May 20 at 9:23 pm

    Property Features for 144 S Main St

    General Information

    Standard status
    Active
    Size
    5,150 SF
    Lot size
    0.10 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Peter Braunworth
    Peter Braunworth

    Listing agent Peter Braunworth

    Listing office Coho Commercial

    Listing date Dec 23, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Coho Commercial

    HighLights

    • Fully renovated historic "Belt Building" in downtown Independence, OR, offering a blend of character and modern functionality.
    • Versatile ground floor space suitable for retail, office, or food service, providing immediate income potential.
    • Spacious 2‑bedroom, 1‑bathroom apartment upstairs with laundry facilities, adding significant value and rental income possibilities.
    • Oversized 2‑car garage with high ceilings and a restroom, offering unique storage or workshop capabilities.
    • Structurally reinforced building, ensuring long‑term stability and minimizing future maintenance costs.
    • Prime Main Street location directly across from Riverfront Park, providing high visibility and foot traffic.

    Overview

    The "Belt Building", a historic property in downtown Independence, Oregon, is available for purchase. Known for housing Main Street Antiques, this building has undergone meticulous restoration and structural reinforcement. The fully renovated building exudes character. The ground floor space is versatile and suitable for retail, office, or food service use. The property includes a spacious 2-bedroom, 1-bathroom apartment upstairs, complete with laundry facilities. An oversized 2-car garage featuring high ceilings and a restroom adds further value. The building has frontage on Main Street, directly across from the fountain at Riverfront Park. The property is suitable for investors or business owners.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $92.7k $18.00
    − Vacancy −$4.2k −$0.81
    EGI $88.5k $17.19
    − OpEx −$26.6k −$5.16
    NOI $62.0k $12.03
    5,150 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $885.3K
    $774.6K – $1.03M (±1% cap)
    NOI $61,970 @ 7.0% cap · market cap 5.90%
    Second Best
    Mixed Use
    $803.4K
    $703.0K – $937.3K (±1% cap)
    NOI $56,238 @ 7.0% cap · market cap 5.36%
    Theoretical Best
    Office A
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $95,716 @ 7.0% cap · market cap 9.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coho Realty Real Estate Agency Kelsey Bruce Real ... Real Estate Agency Shawn Shukle -Coho ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Ruby Rose, Floral, Plants & Gifts — 413 S Main St, Independence, OR 97351

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Polk
    State
    Oregon
    Longitude
    -123.185
    Latitude
    44.8524

    FAQs

    What type of property is this?
    Storefront property - Iconic, renovated mixed-use building in downtown Independence, Oregon.
    Where is this storefront property located?
    The property is located at 144 S Main St Independence, OR.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: Fully renovated historic "Belt Building" in downtown Independence, OR, offering a blend of character and modern functionality.; Versatile ground floor space suitable for retail, office, or food service, providing immediate income potential.; Spacious 2‑bedroom, 1‑bathroom apartment upstairs with laundry facilities, adding significant value and rental income possibilities.
    (503) 385-8835 Call to check price and availability
    More about this property
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