937 Chetco Ave Brookings, OR 97415

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.