909 Main St Myrtle Creek, OR 97457
- Lifestyle centers
- 67,462 SF
- 6.37 lot acres
Current Use by Public Records
- Ray's Food Place / Supermarket / Grocery Store
- Primo Water Refill / Bottled Water Supplier
- Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
- Western Union / Money Transfer Service
Property Details for 909 Main St
- Year built
- 1984
- Lot size
- 6.37 lot acres
- Property size
- 67,462 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
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
- Myrtle Creek
- County
- Douglas
- State
- Oregon
- Longitude
- -123.292
- Latitude
- 43.0149
