1990 11Th Ave Eugene, OR 97402
- Commercial real estate
- 0.21 lot acres
Current Use by Public Records
- Aaron's Rent To Own / Furniture Store / Appliance Rental Service
Property Details for 1990 11Th Ave
- Lot size
- 0.21 lot acres
- Zone code
- S-C-CHAMBERS SPECIAL AREA
- Property type
- Commercial real estate
- APN
- 17-04-36-31-04700-000
- APU
- 1704363104700000
Description
This exceptional investment opportunity features a 7,912 square foot freestanding retail building located at 1990 W 11th Ave, Eugene, OR 97402. The property, built in 2009 and extensively renovated in 2022 (including a new membrane roof and complete repaint), sits on a 0.45-acre lot in a high-traffic area of the W 11th Avenue retail corridor, boasting 36,660 vehicles passing daily. Currently leased to Aaron's Rent-to-Own under a triple-net (NNN) lease, this single-tenant property offers a strong, corporate-guaranteed income stream with an asking price of $1,978,000 and a 6.40% cap rate. The lease generates a net operating income (NOI) of $126,596 annually and expires December 31, 2027, with two 5-year renewal options, each including a 10% rental increase. This presents a secure, long-term investment with significant upside potential. The property's prime location and recent renovations ensure minimal maintenance costs, maximizing return on investment. This is a rare opportunity to acquire a stable, high-performing retail asset in a desirable market.
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
- -123.123
- Latitude
- 44.0475
- CBSA code
- 21660
- CBSA name
- EUGENE-SPRINGFIELD, OR METROPOLITAN STATISTICAL AREA
