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    140 11Th St Hermiston, OR 97838

    Sponsored
    For Sale
    $800,000

    Hermiston Office Building, strong NOI, great lease terms.

    Property size:
    3,040 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully leased, mixed-use property located at 140 SW 11th St, Hermiston, Oregon. The property consists of a two-story, 3,040 square foot office building built in 1970 and renovated in 2021, situated on a 18,482 square foot lot zoned C-2. Currently operating at 100% occupancy since August 1, 2023, the building boasts a strong net operating income (NOI) of $48,000, yielding a 6.00% cap rate. The single tenant is under a net lease agreement with a remaining term of approximately 3.7 years, expiring July 31, 2028. The lease includes annual rent bumps of 2.5% and a renewal option for an additional 5 years with a similar increase. The property includes 20 parking spaces. A significant advantage is the inclusion of a finished adjacent lot of 6285 sq ft (this area is included in the overall lot size of 18,482 sq ft), complete with utilities and rainwater retention. This presents considerable potential for future development or expansion. The asking price is $800,000, translating to a price per square foot of $263.16. The property's APN is 119360

    Property Features for 140 11Th St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,040 SF

    Building Details

    Year Built/Renovated
    1970/2021
    Buildings
    1
    Stories
    2
    Units
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    Trucare Pregnancy Clinic Pregnancy Care Center Copes Peer center Mental Health Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hermiston
    County
    Umatilla
    State
    Oregon
    Longitude
    -119.3112894
    Latitude
    45.8400716

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    FAQs

    What type of property is this?
    Mixed-use property - Hermiston Office Building, strong NOI, great lease terms.
    Where is this mixed-use property located?
    The property is located at 140 11Th St Hermiston, OR.
    What is the asking price?
    The asking price for this property is $800,000.
    Request Owner's contact information
    140 11Th St Hermiston, OR 97838
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    Hermiston, OR 97838
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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
    140 11Th St Hermiston, OR 97838
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