1610 9th Ct Hood River, OR 97031-1919
- Office Properties & Spaces
- 13,086 SF
- 1.17 lot acres
Feb 28, 2022
Current Use by Public Records
- Office Properties & Spaces
Property Details for 1610 9th Ct
- Year built
- 1981
- Lot size
- 1.17 lot acres
- Property size
- 13,086 SF
- Zone code
- C2
- Property type
- Office Properties & Spaces
- APN
- 3N10E36CB 3800
- APU
- 3N10E36CB3800
Description
This fee-simple, single-tenant office building presents a compelling investment opportunity. Located at 1610 9th Ct, Hood River, OR 97031, this 13,810 square foot property sits on a 1.17-acre lot and boasts 60 parking spaces (4.34/1,000 SF ratio). Constructed in 1981, the Class C building is currently 100% occupied by the Oregon Department of Human Services under a Net lease with a remaining term of approximately 2.1 years. The lease, originally commenced January 1, 2020, and expires December 31, 2026, includes two 3-year renewal options and features annual rent bumps of 2.5%. The property's Net Operating Income (NOI) is $242,963, yielding a 6.15% cap rate at an asking price of $3,950,000 ($286.02/sq ft). Zoned C2, this stabilized investment offers a secure income stream from a long-term government tenant in a prime Hood River location within the Heights neighborhood, a thriving business and medical office district. The building is a single-story structure with ample parking. This is a rare opportunity to acquire a well-maintained, single-tenant office building with a strong tenant history and significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hood River
- County
- Hood River
- State
- Oregon
- Longitude
- -121.52
- Latitude
- 45.6974
- CBSA code
- 26220
- CBSA name
- HOOD RIVER, OR MICROPOLITAN STATISTICAL AREA
