Property profile

1845 1st Pl Hermiston, OR 97838

OFF-MARKET
Distribution centers
Property ID
US71-1875462
6,344 SF 2 ac lot Built 1985
Entity Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property, situated on a substantial two-acre lot in Hermiston, Oregon, presents a unique investment opportunity. The 6,344 square foot warehouse/shop boasts a highly desirable location on a busy thoroughfare, making it ideal for businesses requiring significant space and convenient access. The building itself features two well-appointed offices, providing ample administrative space, and a single bathroom for employee convenience. A large roll-up door ensures easy access for delivery trucks, heavy equipment, or large shipments, streamlining operations and enhancing efficiency. Further enhancing its versatility, the property includes a substantial 13x28 walk-in cooler, perfect for businesses requiring temperature-controlled storage. The expansive two-acre lot offers significant potential for future expansion or outdoor storage, providing considerable flexibility for a variety of commercial uses. This property is priced at $885,000 and represents a rare chance to acquire a well-equipped, strategically located commercial space in a thriving Hermiston market. The combination of size, features, and location makes this an exceptional opportunity for businesses seeking to establish or expand their operations. Don't miss this chance to own a prime commercial property in Hermiston.

Property profile

Verified
Property type Distribution centers
Use group DISTRIBUTION WAREHOUSE
Year built 1985
Total area 6,344 SF
Lot 2 ac (87,120 SF)
Zoning code M-1
APN 4N2803C000301
UPID US71-1875462

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1845 1st Pl Hermiston, OR 97838-6665
Hermiston metro Census 951000 HERMISTON-PENDLETON, OR MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$340k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$340k

Owner & transaction history

since 2021
2 recorded transactions
2021
$425,000
2005
$175,000

Zoning & alternative use

M-1 · Hermiston, OR
Zoning description

L ZONE (C-1). § 157.041 OUTLYING COMMERCIAL ZONE (C-2). § 157.042 DOWNTOWN COMMERCIAL OVERLAY ZONE (DCO). § 157.043 NEIGHBORHOOD COMMERCIAL OVERLAY ZONE (NCO). Article V INDUSTRIAL ZONES § 157.055 LIGHT INDUSTRIAL ZONE (…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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