615 SW Evergreen Ave, Redmond, OR 97756

7,500 SF 0.06 ac lot Built 1919

Property ID

US71-0120430

$1,425,000 7,500 SF

615 SW Evergreen Ave, Redmond, OR 97756
View Listing →

Google Maps

This iconic three-story commercial building, situated at the highly visible intersection of Evergreen Avenue and Sixth Street in downtown Redmond, Oregon, presents a compelling investment opportunity. Constructed in 1919 and boasting approximately 7,500 square feet, the Landaker Building offers a blend of historical charm and modern functionality. Originally a pool hall, a 1932 renovation expanded the structure to include office and apartment spaces, creating a diverse income stream. Currently fully leased, the property comprises two ground-floor retail units, perfectly positioned to capitalize on high foot traffic. Two additional commercial units are located on the third floor, providing further rental income potential. Ten apartment units, spread across the second and third floors, contribute significantly to the building's overall profitability. The 0.06-acre lot provides ample space for potential future development, including the possibility of converting some units into short-term rentals to further enhance revenue generation. This fully occupied building offers a stable and attractive return on investment, combined with the significant upside potential inherent in its prime location and historical significance within the vibrant downtown Redmond area. The building's strong tenant base and consistent rental income make it an exceptional addition to any commercial real estate portfolio.