Property profile

435 Evans St Mcminnville, OR 97128

OFF-MARKET
Medical Office Space
Property ID
US71-1747668
0.28 ac lot
Entity Owned 11-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

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

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Lot 0.28 ac (12,001 SF)
Zoning code C3
APN R4421BC 02400
UPID US71-1747668

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Alternative Medicine Practice Spa & Massage Center
  • Alternative Medicine Practice Spa & Massage Center
  • Charitable Organization Social Service Agency
  • Law Firm
  • Tattoo & Piercing Shop

Location

435 Evans St Mcminnville, OR 97128-4628
Mcminnville metro Census 30801 PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$400k

Owner & transaction history

since 2014
7 recorded transactions
2018
Price N/A
2018
Price N/A
2014
$450,000
2012
$587,874
2011
$587,874
2006
$865,000
1994
$262,500

Zoning & alternative use

C3 · Mcminnville, OR

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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