144 S Main St, Independence, OR
Iconic, renovated mixed-use building in downtown Independence, Oregon.
- 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
Listing agent Peter Braunworth (503) 385-8835
Listing office Coho Commercial (503) 385-8835
Listing date Dec 23, 2024
Source Moodyscre
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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
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 |
Alternative Uses
Current Use by Public Records
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