540 Hwy 20th N Hines, OR 97738-9403
- Commercial land
- 0.81 lot acres
Dec 20, 2024
Current Use by Public Records
- Commercial land
Property Details for 540 Hwy 20th N
- Lot size
- 0.81 lot acres
- Zone code
- C
- Property type
- Commercial land
- APN
- 23S 30E 13CC 00501
- APU
- 23S30E13CC00501
Description
This exceptional investment opportunity presents a 4,848-square-foot retail building situated on a 0.81-acre lot in Hines, Oregon. The property, built in 1997, boasts a prime location adjacent to the Best Western Inn, ensuring high visibility and accessibility. Currently leased under a gross lease agreement with a tenant occupying the space for over two decades, the lease was recently renewed for five years, extending to June 1, 2027. The lease structure is a 7% share of gross sales, providing a stable and predictable income stream. The property generated a net operating income (NOI) of $53,000 in 2021, representing a 5.5% capitalization rate. Property taxes are $10,655.93 annually (paid by the tenant). The asking price is $895,000, and financing is cash only. This is an ideal investment for those seeking a stable, income-producing asset in Eastern Oregon's thriving market. The address is 540 Hwy 20, Hines, OR 97738.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hines
- County
- Harney
- State
- Oregon
- Longitude
- -119.076
- Latitude
- 43.5722