2800 E 2nd St 16,060 SF Specialty Building Offered at $2,075,000 at a 7.17% Cap Rate in Newberg, OR 97132

Rare opportunity to acquire a 40-unit self-storage facility with an additional 3 RV spaces and eight flex/industrial spaces. There are four buildings, asphalt drive aisles, and a parking area. The buildings are wood-framed with metal siding and metal roofs. The property is fully fenced, with an electronic gate at the north end. It benefits from exposure on NE Saint Paul Highway (HWY 219). Currently, the property is self-managed by the original developer.
The eight flex/industrial spaces are fully leased, with short-term leases at under market rents. Clear height in the flex spaces is 12' except for a small part of the southern most building. The grade level doors for the flex spaces are 10' high x 10' wide except for one door that is 11' x 10' and another door that is 7' x 10'. The ownership uses a 3rd party for their advertising and marketing of the self-storage units.