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UPDATED: 8.8% Pro Forma Cap Rate $96/SF 320 N Main St 13,200 SF 100% Leased Retail Building Prineville, OR 97754 $1,275,000 ($96.59/SF) 4.83% Cap Rate
INVESTMENT HIGHLIGHTS
- Highly desirable downtown location in the heart of shopping and dining
- Adjacent to city parking lot: 23 on-site parking spaces plus additional street parking
- Adaptable Layout: re-configure or create new suites with adaptable floorplan
- High speed internet, security system, on-site trash collection for businesses
EXECUTIVE SUMMARY
This is an exciting opportunity to own a mixed-use, 100% leased commercial asset in historic downtown Prineville. The property is located on Main Street in a high traffic area with strong occupancy rates. The property also sits adjacent to one of the only public parking lots in downtown Prineville.
This property offers strong cash flow potential with an 8.79% pro forma cap rate ($96/SF). All leases are NNN. 320 N Main St presents an excellent opportunity to acquire immediate cash flow with longer term growth potential.
Originally built in 1938, 320 N Main St has been renovated over the last three years. Improvements include a full cosmetic remodel of the second story in 2022, individual office room build outs in 2023, and a brand new TPO roof in 2024. Listing Broker has an ownership interest in the property; Contact Listing Broker for financial information and rent roll.
This property offers strong cash flow potential with an 8.79% pro forma cap rate ($96/SF). All leases are NNN. 320 N Main St presents an excellent opportunity to acquire immediate cash flow with longer term growth potential.
Originally built in 1938, 320 N Main St has been renovated over the last three years. Improvements include a full cosmetic remodel of the second story in 2022, individual office room build outs in 2023, and a brand new TPO roof in 2024. Listing Broker has an ownership interest in the property; Contact Listing Broker for financial information and rent roll.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
13,200 SF
Building Class
C
Year Built
1938
Price
$1,275,000
Price Per SF
$96.59
Cap Rate
4.83%
NOI
$61,618
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.89
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
C1
Frontage
98’ on N Main St
Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (76)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $525,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$525,000
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UPDATED: 8.8% Pro Forma Cap Rate $96/SF | 320 N Main St
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