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1750-1780 SW 3rd St 41,478 SF 97% Leased Industrial Building Corvallis, OR 97333 $5,200,000 ($125.37/SF) 7.05% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New Roofs on Two Buildings
- Low Vacancy Submarket
- Below Market Rent
EXECUTIVE SUMMARY
CHOSEN TO MARKET CORVALLIS MILLRACE, a versatile mixed-use property
located in Corvallis, OR. This dynamic complex offers a blend of retail, office, and industrial
spaces, built in 1973 and renovated in 1997. Spanning 41,478 square feet on a generous
2.95-acre lot, it provides ample room for diverse business operations. Recent improvements
include a brand new roof installed on building 1750 in 2024, a three-year-old warrantied
roof on building 1760, and a roof just under five years old on building 1780. Additionally,
the parking lot has been recently redone, new gas packs have been installed on the roof of
building 1750, and a wireless fire suppression system is being implemented to eliminate
monthly phone line charges. A flood designation removal is also in progress, and a 10-
year transferable warranty is available.
Corvallis Millrace Center boasts an impressive roster of tenants, including prestigious
institutions like Oregon State University, as well as established companies such as
Ferrellgas and Kohler Design Corporation. Its strategic location near Oregon State
University’s campus, home to over 37,000 students and 9,000 faculty and staff, ensures
a steady flow of potential customers and employees. With 78 on-site parking spaces,
multiple points of ingress and egress, and prominent signage, the center offers excellent
visibility and accessibility for tenants and visitors alike. Building 1780 is further enhanced
with a 3-phase 480 amp power supply. This prime positioning, combined with its flexible
spaces and diverse tenant mix, makes Corvallis Millrace Center an attractive option for
businesses looking to establish or expand their presence in the thriving Corvallis market.
PROPERTY FACTS
AMENITIES
- Front Loading
- Mezzanine
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Arts, Entertainment, and Recreation
- -
- -
- Modified Gross
- -
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| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Arts, Entertainment, and Recreation | - | - | Modified Gross | - |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Open reception work area and 3 private offices.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,100 SF | Office/Retail | Full Build-Out | Now |
1st Floor
| Size |
| 1,100 SF |
| Space Use |
| Office/Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Floor
| Size | 1,100 SF |
| Space Use | Office/Retail |
| Condition | Full Build-Out |
| Available | Now |
Open reception work area and 3 private offices.
PROPERTY TAXES
| Parcel Number | 158752 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,863,934 |
PROPERTY TAXES
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1750-1780 SW 3rd St
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