1215 Shortridge StAlbany, OR 97322

Property Details for 1215 Shortridge St

Year built

1972

Lot size

0.34 AC

Property size (Sq ft)

2,768 SF

Property type

Office properties

Property subtype

Other office properties

APN

11S 03W 09BC 00300

APU

11S03W09BC00300

Description

This exceptional Albany, Oregon mixed-use property offers a compelling investment or business opportunity. Priced at $800,000, this property encompasses two buildings totaling 2,768 square feet on a 14,544.68 square foot lot. The main building, a single-story structure built in 1972, features 12 dedicated office spaces, a 15 x 17 conference room, break room, two bathrooms, attractive flooring and wainscoting, and a fenced patio. It boasts 19 parking spaces and nearly 140 feet of road frontage on Santiam Highway, providing excellent client access and visibility, just minutes from I-5. The building is equipped with air conditioning, forced air heating, city water, and sewer. A charming 520 square foot cottage, also on the property, has been updated with new flooring, trim, interior/exterior paint, roof, and vinyl windows. This secondary building includes a full bathroom, kitchen, and washer/dryer, suitable for office or residential use and features its own fenced yard. The property is zoned OP (Office Professional) for the cottage and Light Commercial for the main building, offering versatile usage options. This property presents a rare opportunity for significant return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $508,517

  6.5%

  $469,400

  7%

  $435,872

• Comparable approach

  Method

  Valuation

  Relative Method

  $435,971

  Geo Method

  $709,245

• Alternative Use

  Use

  Valuation

  Residential

  $582,056

  Hospitality

  $533,160

  Educational

  $443,583

  Medical

  $458,839

  Retail

  $690,018

Location Insight

City

Albany

County

Linn

State

Oregon

Latitude

44.6302

Longitude

-123.069

CBSA code

10540

CBSA name

ALBANY-LEBANON, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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