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    909 Main St Myrtle Creek, OR 97457

    For Sale
    $5,200,000

    Grocery-anchored shopping center, high traffic.

    Property size:
    67,462 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    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 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

    HighLights

    • $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.
    • Located at 909 S Main St, Myrtle Creek, OR 97457, a high‑traffic area with over 10,000 vehicles per day on Main Street and proximity to I‑5.
    • Grocery‑anchored shopping center with 12 units, 66.6% occupancy.
    • Class B property built in 1984, renovated in 2018, featuring a new metal roof, fresh exterior paint, and updated fascia.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ray's Food Place Grocery Store Primo Water Refill Bottled Water Supplier Coinstar Kiosk | Bitcoin ... Atm Western Union Money Transfer Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    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.
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    Myrtle Creek, OR 97457
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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
    909 Main St Myrtle Creek, OR 97457
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