Entity Owned Property summary
This exceptional multi-tenant office building, located at 283 N Columbia St in Milton-Freewater, Oregon, presents a compelling investment opportunity. The 10,500 square foot property, built in 1986, sits on a 1.06-acre lot and is zoned C-1. Currently boasting a strong tenant mix including the State of Oregon and a counseling practice, this building offers a stable income stream with a 10.09% cap rate and a pro-forma NOI of $109,427. The asking price is $1,085,000, translating to $103.33 per square foot. The property features a new HVAC system and ample parking. Its convenient location just off Highway 11 provides easy access to major transportation routes and is surrounded by established businesses such as Safeway, Blue Mountain Community College, and WaFD Bank. The building's four units offer flexibility, with potential for owner-occupancy of 1,000 to 2,200 square feet. This property is ideally situated, only 9 miles south of Walla Walla and 30 miles north of Pendleton, making it an attractive investment for both passive and owner-user investors. The modified lease structure provides additional flexibility.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
The retail and service commercial zone provides for general retail and light service commercial uses such as hair care salons, restaurants, and supermarkets.
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C-1 · Milton Freewater, ORThe retail and service commercial zone provides for general retail and light service commercial uses such as hair care salons, restaurants, and supermarkets.
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The retail and service commercial zone provides for general retail and light service commercial uses such as hair care salons, restaurants, and supermarkets.
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-1 in Milton Freewater, OR.
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