309 Main StRiddle, OR 97469

Property Details for 309 Main St

Year built

1921

Lot size

0.07 AC

Property size (Sq ft)

3,000 SF

Property type

Retail space

APN

30-06W-24BC-06000

APU

3006W24BC06000

Description

This exceptional 3,000 square foot commercial building is situated on a 0.07-acre lot in the heart of historic downtown Riddle, Oregon, on busy Main Street. Previously operating as a Mexican restaurant, this versatile property presents endless possibilities for a variety of businesses. Substantial upgrades have been completed throughout, including a new roof, water heater, electrical system, drain pipes, water lines, flooring, toilets, sinks, and a newly installed lottery room and kitchen exhaust fan. The main floor boasts a large open dining area, a spacious service area, a clean kitchen, three bathrooms, one shower, and an office/storage area with laundry hookups. Upstairs, a sizable two-bedroom apartment offers a live-in option or potential rental income, complete with a kitchenette, walk-in closet, and bathroom. A large, clean basement provides ample storage space. This property represents a significant investment opportunity in a thriving downtown location. The building's recent renovations minimize upfront capital expenditures, allowing a new owner to focus on business operations. Its prime location and versatile layout make it an ideal choice for entrepreneurs seeking a blend of commercial space and residential convenience. Don't miss this chance to own a piece of Riddle's vibrant downtown. The asking price is $399,000.

• CAP approach

  CAP return

  Valuation

  6%

  $868,828

  6.5%

  $801,995

  7%

  $744,709

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,937,099

  Geo Method

  $1,937,099

• Alternative Use

  Use

  Valuation

  Residential

  $676,513

  Hospitality

  $619,682

  Educational

  $515,568

  Medical

  $533,299

  Retail

  $801,995

Location Insight

City

Riddle

County

Douglas

State

Oregon

Latitude

42.9508

Longitude

-123.366

CBSA code

40700

CBSA name

ROSEBURG, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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