720 Granger Ave Corvallis, OR 97330

Property Details for 720 Granger Ave

Year built

1972

Lot size

22.40 lot acres

Property size

16,756 SF

Zone code

EFU,RI

Property type

Manufacturing properties

APN

11512D000200

APU

11512D000200

Description

This exceptional investment opportunity presents the Kammerer Industrial Park, a multi-tenant industrial complex ideally situated near Corvallis, Oregon. The property encompasses 22.4 acres and comprises eleven buildings totaling 31,584 to 40,000 square feet, currently housing ten tenants. The property's diverse zoning, including Rural Industrial and Exclusive Farm Use (EFU), offers significant expansion potential (subject to county approval). The current tenants provide a stable income stream, contributing to a strong Net Operating Income (NOI) of $389,754, resulting in a 6.5% capitalization rate. The property benefits from low operating expenses due to its location outside city limits, utilizing two wells for water and septic systems for bathroom facilities. Three-phase power (240 and 440 volts) is readily available. The property's eleven units are valued at $545,445.45 each, with an asking price of $5,999,900. The seller is motivated and willing to offer financing, proposing a starting point of 20% down, 6.5% interest, a 25-year amortization with a 5-year call option, but open to a 10-year call option as well. This presents a compelling opportunity for investors seeking a stable, income-generating asset with significant upside potential. The property's location, zoning, and seller financing options make it a truly unique and attractive investment. The APN is 042840. The address is 720 NE Granger Ave, Corvallis, OR 97330.

Location Insight

City

Corvallis

County

Benton

State

Oregon

Longitude

-123.233

Latitude

44.6272

CBSA code

18700

CBSA name

CORVALLIS, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments