1700 S Roosevelt Dr
Seaside, OR 97138
Retail Property For Sale

Marcus & Millichap is pleased to present for sale the exclusive opportunity to acquire the land and improvements located at 1700- 1706 South Roosevelt Drive, Seaside, Oregon. Built in 1989 of wood frame construction the subject property is an approximately 2,754 square foot single story retail building on two lots totaling 8,712 square feet. The building was originally setup for four suites/tenants. The site has paved onsite parking and has been well maintained with regular maintenance. The property is currently fully leased for $1,600 per month through April 30, 2020 to a local operator using the building as a general arts, crafts, retail, antique and souvenir store. The lease is a modified gross lease with tenant responsible for electric and upkeep and landlord responsible for water/sewer, property taxes, insurance, and roof/structure repairs. Located off of Highway 101, the main North-South highway along the Oregon coast, the site benefits from traffic exposure from approximately 13,000 vehicles per day. Amenities in the area include; Seaside Golf Course, Cartwright Park, the Pacific Ocean, and various restaurants, hotels and lodging accommodations. The property is ideal for either an investor or owner/user. An investor may purchase the property and increase income by converting the lease to triple net, where the tenant is responsible for all operating expenses associated with the property, creating significant upside. Alternately, an owner/user may want to use the building at the tenant’s lease expiration taking advantage of the low price per square foot of approximately $100.