Albany, OR 97321
- Investment properties
- 3,854 SF
- 0.16 lot acres
Current Use by Public Records
- Investment properties
Property Details
- Lot size
- 0.16 lot acres
- Property size
- 3,854 SF
- Property type
- Investment properties
Description
This exceptional investment opportunity presents a fully renovated multi-tenant building in vibrant downtown Albany, Oregon. The property, totaling 3,854 square feet on a 0.16-acre lot, underwent a complete transformation in 2023. Improvements include a brand-new TPO membrane roof, upgraded electrical service, extensive plumbing updates, and stylish modern finishes throughout. The building boasts two strong tenants. The anchor tenant, Greyhound Tavern, occupies over 5,000 square feet and recently signed a five-year, net-net-net (NNN) lease at a monthly rent of $5,000. Their space features a custom wood-fired pizza oven and dedicated event space, adding significant value and appeal. The second tenant, Sugar J's Ice Cream, has 2.5 years remaining on their three-year lease, paying $1,475 per month plus a $75 utility fee. This turnkey investment offers a compelling blend of stable income streams, modern amenities, and a prime location in a rapidly growing downtown area. The property's recent renovations ensure long-term operational efficiency and minimize future maintenance costs. This is an ideal opportunity for investors seeking a strong return on investment in a thriving Oregon market. The asking price is $970,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Linn
- State
- Oregon
- Longitude
- -123.105
- Latitude
- 44.6367
