1318 9th St Ste, Unit 100 Corvallis, OR 97330-4565
- Retail space
- 7,580 SF
- 0.47 lot acres
Current Use by Public Records
- FactoryWiz Monitoring / Software Company
- Refresh Your Memory, Inc / Software Company
- Ideal Option / Addiction Treatment Center
Property Details for 1318 9th St Ste
- Year built
- 1998
- Lot size
- 0.47 lot acres
- Property size
- 7,580 SF
- Zone code
- CMU-2
- Property type
- Retail space
- APN
- 11526DC02900
- APU
- 11526DC02900
Description
This exceptional 7,721 square foot Class A office building, located at 1318 NW 9th Street in Corvallis, Oregon, presents a unique owner-user opportunity. Built in 1998 and renovated in 2022, the property boasts a prime location on a high-traffic commercial artery, offering excellent visibility and signage opportunities. Currently housing two tenants, generating a pro-forma NOI of $140,107 and a 7.01% cap rate, this investment provides immediate income while offering significant expansion potential. The available 3,411 square foot end-cap suite (Suite 100) comprises approximately 44% of the building, ideal for an owner-occupier. This versatile space features at least eight offices, a conference room, waiting room, a large demisable area with a sink, a break room/kitchenette, and a bathroom. The property sits on a 0.47-acre lot, zoned CMU-2, allowing for a wide range of commercial uses. Its proximity to Oregon State University (OSU) further enhances its appeal, benefiting from the strong demand in this vibrant market. The asking price is $1,999,000, with a price per square foot of $258.90. Additional space is also available for lease. This property offers a compelling blend of immediate income, long-term growth potential, and a strategic location in a thriving Oregon community. The property is conveniently located at a Corvallis Transit System stop.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,765,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,700,000
- 6.5%
- $1,600,000
- 7%
- $1,555,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,600,000
- Geo Method
- $1,945,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,780,000
- Retail
- $1,710,000
- Mixed-Use
- $1,720,000
- Hospitality
- $1,870,000
- Educational
- $1,470,000
- Residential Income
- $1,745,000
- Energy
- $1,945,000
- Income-Based Land
- $1,875,000
- Food Service
- $1,920,000
Location Insight
- Map
- Local Demand
- City
- Corvallis
- County
- Benton
- State
- Oregon
- Longitude
- -123.261
- Latitude
- 44.5787
- CBSA code
- 18700
- CBSA name
- CORVALLIS, OR METROPOLITAN STATISTICAL AREA
