1153 2Nd Ave Eugene, OR 97402
- Warehouses
- 70,000 SF
Current Use by Public Records
- Scheumack Broom Co / Department Store / Home Goods Store
Property Details for 1153 2Nd Ave
- Year built
- 1940
- Property size
- 70,000 SF
- Property type
- Warehouses
- Property subtype
- Mixed-use properties
Description
This exceptional 1.63-acre property, located at 1153 W 2nd Ave, Eugene, OR 97402, presents a unique redevelopment opportunity. Situated in Eugene's vibrant Whiteaker neighborhood, this rectangular parcel boasts convenient access to all city services. The property's strategic location directly abuts Ninkasi Brewery to the west, offering significant synergy potential. Currently featuring three buildings totaling 70,000-71,000 square feet across four units, the property is zoned for Whiteaker Special Area, S-W, and offers a diverse range of potential uses. The existing structures, built in the 1940s, are currently 20% occupied under a gross lease structure with four tenants, generating a current NOI of $9,287. The property is offered as a fee simple ownership with a clean Phase I Environmental Site Assessment (PPA) on file for buyer protection. This is a Class D industrial property, suitable for distribution, warehouse, or manufacturing uses, and is currently listed at $1,390,000. The seller is open to creative financing options. The property's significant size and prime location in a rapidly developing area make it an ideal investment for those seeking substantial returns through redevelopment. This is a 1031 exchange eligible property.
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
- Eugene
- County
- Lane
- State
- Oregon
- Longitude
- -123.111
- Latitude
- 44.0576
