0 5Th StCorvallis, OR 97330

For Sale
$3,725,000

Prime Corvallis office buildings, 100% occupied, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents two Class B office buildings totaling 12,283 net rentable square feet, situated on a half-city block in Corvallis, Oregon. Built between 1999 and 2000, the property boasts a 100% occupancy rate with six tenants under triple-net (NNN) leases, including prominent businesses such as First American Title, Mortgage Express, Connected Real Estate Group, Farmers Insurance, Guild Mortgage, and Principal Property Management. The property offers ample parking, with 32 spaces per 1,000 square feet. The current asking price is $3,725,000, reflecting a compelling 5.93% capitalization rate and a substantial net operating income (NOI) of $220,841. The property benefits from built-in rent bumps and is subject to a ground lease expiring May 20, 2048, providing long-term stability and potential for future appreciation. Located at NW 5th St, Corvallis, OR 97330, in Benton County, this multi-tenant investment is an attractive proposition for discerning investors seeking a stabilized, high-performing asset in a desirable Oregon location. The property's strong tenant roster and favorable lease terms contribute to its exceptional financial performance and long-term growth prospects.

Highlights

  • Two Class B office buildings totaling 12,283 net rentable square feet in Corvallis, OR.
  • 100% occupancy with six tenants on triple-net (NNN) leases, including First American Title, Mortgage Express, Connected Real Estate Group, Farmers Insurance, Guild Mortgage, and Principal Property Management.
  • Ample parking (32 spaces per 1,000 sq ft).
  • Asking price: $3,725,000, 5.93% cap rate, $220,841 NOI.
  • Ground lease expiring May 20, 2048.

Property Details for 0 5Th St

Property type
Other office properties, Office properties
Class
B
Year Built
1999
Buildings
2

Location Insight

City
Corvallis
County
Benton
State
Oregon
Latitude
44.56823907997
Longitude
-123.26133693031
5Th St, Corvallis, Oregon
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0 5Th St
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