909 Main St Myrtle Creek, OR 97457
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Grocery-anchored shopping center, high traffic.
Property size:
67,462 SFProperty Features for 909 Main St
General Information
- Property type
- Lifestyle centers
- Square Feet
- 67,462 SF
- Class
- B
- Lot Size
- 277,477 SF
Building Details
- Year Built/Renovated
- 1984/2018
- Buildings
- 1
- Units
- 12
Listing Agency: Marcus & Millichap Portland Listing Agent: Eric Garske
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This fee-simple, value-add shopping center, Valley View Plaza, presents a compelling investment opportunity in Myrtle Creek, Oregon. Located at 909 S Main St, 97457, this 67,286 square foot property sits on a 6.37-acre lot and boasts a prominent Main Street location, benefiting from over 10,000 vehicles per day (VPD) and proximity to I-5, adding another 30,000 VPD. The center features a highly visible pylon sign and ample parking with a dedicated turn lane. Currently operating at 66.6% occupancy, the 12-unit center is anchored by Ray's Food Place, the only traditional grocery and pharmacy in Myrtle Creek, serving as the primary retail hub for the community. Built in 1984 and significantly renovated in 2018 (including new roofing, exterior paint, and updated fascia), the Class B property offers a gross lease structure. The current NOI is $344,762, with a pro-forma NOI of $452,000, resulting in a current cap rate of 6.63% and a pro-forma cap rate of 8.69%. The asking price is $5,200,000 ($77.08/sq ft). This multi-tenant property offers significant potential for increased profitability through lease-up and operational improvements.
Property Profile
Location Intelligence
Current Use by Public Records
Ray's Food Place
Grocery & Convenience Store
Primo Water Refill
Big Box & Wholesale Store
Coinstar Kiosk | Bitcoin ...
Atm
Western Union
Bank
Location Insight
- Map
- Local Demand
- City
- Myrtle Creek
- County
- Douglas
- State
- Oregon
- Longitude
- -123.2920668
- Latitude
- 43.0149515
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FAQs
What type of property is this?
Lifestyle center - Grocery-anchored shopping center, high traffic.
Where is this lifestyle center located?
The property is located at 909 Main St Myrtle Creek, OR.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: $5,200,000 asking price for a value-add retail property.; 67,286 square feet of net rentable space in a 67,462 square foot building on a 6.37-acre lot.; 6.63% current cap rate, 8.69% pro-forma cap rate; $344,762 current NOI, $452,000 pro-forma NOI.
