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    937 Chetco Ave Brookings, OR 97415

    Sponsored
    For Sale
    $509,999

    High-yield Oregon commercial property, 7-year lease.

    Property size:
    2,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2,000 square foot commercial condo, located at 937 Chetco Ave, Unit D, Brookings, OR 97415, presents a compelling investment opportunity. Built in 2006, this two-story building boasts a desirable location near Highway 101 and Fred Meyer, ensuring high visibility and accessibility. The property features a well-maintained interior with attractive upgrades, including a welcoming lobby with a gas fireplace, hickory floors, granite countertops, and ample workspace. The layout includes a reception area, conference room, office, kitchen, and multiple upstairs offices and a sitting area. The property includes four assigned parking spaces and additional open parking. Currently operating under a 7-year gross lease (commencing February 28, 2021, and expiring February 29, 2028) with a corporate guarantee and built-in rent bumps, the property offers a strong, stable income stream. The Net Operating Income (NOI) is $30,000, resulting in a 5.60% cap rate. The asking price is $509,999, translating to $1.62 per square foot. The property is zoned 3C and has a 100% occupancy rate. The HOA fee is $380 per month. This is a 1031 exchange eligible property, offering significant tax advantages for qualified investors. The property is privately owned and features one unit within a larger commercial condo project. The remaining term on the lease is approximately 3.3 years. This is an ideal investment for those seeking a stable, high-yield property with a long-term lease in place.

    Property Features for 937 Chetco Ave

    General Information

    Property type
    Land
    Square Feet
    2,000 SF

    Building Details

    Year Built
    2006
    Buildings
    1
    Stories
    2
    Units
    1

    HighLights

    • 2,000 SF commercial condo at 937 Chetco Ave, Unit D, Brookings, OR 97415.
    • Built in 2006, near Hwy 101 & Fred Meyer, offering high visibility.
    • Features a reception area, conference room, offices, kitchen, and ample workspace.
    • Includes four assigned parking spaces plus open parking; $380/month HOA fee.
    • Currently leased with a corporate guarantee through February 2028, offering a $30,000 NOI and 5.60% cap rate.
    • Asking price: $509,999 ($1.62/SF); 1031 exchange eligible.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Brookings
    County
    Curry
    State
    Oregon
    Longitude
    -124.290628
    Latitude
    42.0549488

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    FAQs

    What type of property is this?
    Land - High-yield Oregon commercial property, 7-year lease.
    Where is this land located?
    The property is located at 937 Chetco Ave Brookings, OR.
    What is the asking price?
    The asking price for this property is $509,999.
    What are key features of this property?
    This property features: 2,000 SF commercial condo at 937 Chetco Ave, Unit D, Brookings, OR 97415.; Built in 2006, near Hwy 101 & Fred Meyer, offering high visibility.; Features a reception area, conference room, offices, kitchen, and ample workspace.
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    937 Chetco Ave Brookings, OR 97415
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    Brookings, OR 97415
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    937 Chetco Ave Brookings, OR 97415
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