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435 NE Evans St 17,000 SF 100% Leased Office Building Mcminnville, OR 97128 $4,500,000 ($264.71/SF)
INVESTMENT HIGHLIGHTS
- Full remodel & rehab in 2017
- Full NNN
- Ultra energy efficient heating/cooling, windows and systems
- Upside - leases trailing market
EXECUTIVE SUMMARY
Fully restored and renovated historic downtown McMinnville NNN, multi-tenant office building presents a compelling investment opportunity characterized by stable, 100% occupancy. Significantly renovated down to the concrete and studs in 2017, this property features all-new, ultra-efficient systems, including energy-saving windows, modern Daikin mini-split HVAC units, cost-effective LED lighting, a comprehensive alarm and camera system all under a brand-new, durable 50-year PVC roof. All major systems are entirely replaced, including new above and underground plumbing and electrical infrastructure. 7 on-site parking spots and additional public parking garage across the street. The full triple-net (NNN) lease structure ensures a streamlined management experience with all operating expenses, including the low maintenance costs associated with the new systems, being fully absorbed by the tenants. Investors will appreciate the upside market rental rates, along with the benefit of primary tenancies generating tax-exempt income. Seller willing to carry with attractive terms and large down payment.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
17,000 SF
Building Class
B
Year Built/Renovated
1945/2017
Price
$4,500,000
Price Per SF
$264.71
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
5,667 SF
Building FAR
1.39
Lot Size
0.28 AC
Zoning
C3 - Commercial 3
AMENITIES
- 24 Hour Access
- Accent Lighting
- Central Heating
- Partitioned Offices
- Outdoor Seating
- Air Conditioning
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Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 159651 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $602,767 |
PROPERTY TAXES
Parcel Number
159651
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$602,767
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435 NE Evans St
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