Property summary
Exceptional investment opportunity in McMinnville, Oregon. This Class A, three-story office building, totaling 14,638 net rentable square feet, is situated on a 0.276-acre lot (APN 159651) at 435 NE Evans St, 97128. The property, built in 1945 and extensively renovated in 2017, boasts 12 units with 100% occupancy under long-term NNN leases. The building features a modern design incorporating energy-efficient upgrades including new electrical, plumbing, HVAC systems, R-30 ceiling insulation, triple-pane windows, foam wall insulation, steel studs, and 5/8" drywall. The asking price is $5,000,000, translating to $341.58 per square foot. The property is zoned Commercial-3 and currently houses two well-known local tenants occupying the majority of the space. All units will be leased at closing. Tenants share all expenses. This is a clean NNN investment with significant upside potential. The building is a multi-tenant property suitable for executive, medical, and traditional office uses.
Property profile
VerifiedCap rate & NOI
Current use
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Alternative Medicine Practice Spa & Massage Center
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Alternative Medicine Practice Spa & Massage Center
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Charitable Organization Social Service Agency
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Law Firm
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Tattoo & Piercing Shop
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C3 · Mcminnville, ORZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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The district profile from the municipal source: what is on file for C3 in Mcminnville, OR.
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Find the owner behind the property.
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