Property profile

645 3rd St Mcminnville, OR 97128

OFF-MARKET
Turn key restaurants
Property ID
US71-0588763
0.14 ac lot
Entity Owned 15-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 3,513 square foot property in historic downtown McMinnville, Oregon offers a unique blend of commercial opportunities. Currently configured as a high-end, fully equipped restaurant, this space presents a turnkey solution for a discerning operator. Located at 645 NE 3rd St, the building boasts a prime location in the heart of Oregon's wine country, benefiting from high foot traffic and visibility. The space includes an enclosed and heated four-season patio, perfect for year-round use, as well as ample traditional outdoor seating. Built in 2012, this three-story building features a C-3 zoning designation and includes an elevator for convenient access. The property is a single-tenant space, ideal for a restaurant or other compatible business. Noteworthy neighbors include Chris James Cellars and The 1882 Grille, located on the third floor of the same building. The property's APN is 159937, and it's situated in Yamhill County, near the intersection of NE 3rd Street and NE Galloway Street. This is a rare opportunity to acquire a well-established, high-quality commercial space in a thriving location. Serious inquiries only. Do not disturb tenants.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Lot 0.14 ac (6,003 SF)
Zoning code C3
APN R4421BC 04600
UPID US71-0588763

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
  • Brewery & Distillery Specialty Food Shop
  • Real Estate Agency
  • Restaurant

Location

645 3rd St Mcminnville, OR 97128-4506
Mcminnville metro Census 30801 PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history

since 2011
2 recorded transactions
2016
Price N/A
2011
$541,000

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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