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408 Main Ave 6,568 SF Retail Building Tillamook, OR 97141 $1,950,000 ($296.89/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Drive through easement
- Leased through 2036
EXECUTIVE SUMMARY
PRIME INVESTMENT OPPORTUNITY
This fully leased property is a rare chance to own a stable, low-maintenance asset in the heart of downtown Tillamook. U.S. Bank, a well-established national credit tenant, has occupied the building for 5 decades and just renewed its lease for another 5 years, with a 5 year renewal option, showing strong confidence in the location. Backed by a proven tenant, this is a low-risk, income-producing asset ideal for investors seeking durability, simplicity, and dependable returns.
This fully leased property is a rare chance to own a stable, low-maintenance asset in the heart of downtown Tillamook. U.S. Bank, a well-established national credit tenant, has occupied the building for 5 decades and just renewed its lease for another 5 years, with a 5 year renewal option, showing strong confidence in the location. Backed by a proven tenant, this is a low-risk, income-producing asset ideal for investors seeking durability, simplicity, and dependable returns.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
6,568 SF
Building Class
C
Year Built
1959
Price
$1,950,000
Price Per SF
$296.89
Cap Rate
6.50%
NOI
$126,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.59
Lot Size
0.26 AC
Zoning
TCC - Tillamook Commercial
Parking
9 Spaces (1.37 Spaces per 1,000 SF Leased)
Frontage
169’ on North Main Street
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R0120595 | Improvements Assessment | $830,550 |
| Land Assessment | $149,230 | Total Assessment | $979,780 |
PROPERTY TAXES
Parcel Number
R0120595
Land Assessment
$149,230
Improvements Assessment
$830,550
Total Assessment
$979,780
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408 Main Ave
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