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Oregon Driver & Motor Vehicle Services 499 Valley River Ctr 8,580 SF Retail Building Eugene, OR 97401 $2,657,000 ($309.67/SF) 7% Cap Rate
Investment Highlights
- Government-Backed Credit Tenant | The State of Oregon (S&P: AA+; Moody's: Aa1)
- Excellent Interstate Access | Less than a Mile from the On-Ramp to Delta Highway (45,200 VPD) and its Interchange with I-105 (75,300 VPD)
- Less Than 3 Miles to University of Oregon (Enrollment: 24,462+)
- Net Lease with Annual 3%+ Annual Increases
- Outparcel to Valley River Center (814,000 SF) | Anchored by JCPenney, Macy's, Regal Cinemas & Round One Entertainment
- Eugene-Springfield, OR MSA Advantage (MSA Population: 392,601+)
Executive Summary
CBRE is pleased to offer for sale the 8,580-square-foot Oregon Driver & Motor Vehicle Servies (also referred to as the Eugene DMV) asset positioned on 0.25 acres in Eugene, Oregon (MSA Population: 392,601). The Eugene DMV‘s net lease features ±6.6 years of term remaining with 3.00%+ annual rent increases throughout the term and in each of the two, 5-year renewal options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Health Club
Building Size
8,580 SF
Building Class
B
Year Built/Renovated
1968/2022
Price
$2,657,000
Price Per SF
$309.67
Cap Rate
7%
NOI
$185,987
Tenancy
Single
Building Height
1 Story
Building FAR
0.79
Lot Size
0.25 AC
Zoning
C-2-Community Commercial
Parking
9 Spaces (1.05 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
Bike Score®
Biker's Paradise (94)
Nearby Major Retailers
Property Taxes
| Parcel Number | 1449071 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $412,981 |
Property Taxes
Parcel Number
1449071
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$412,981
Contacts
-
Christopher Bosworth -
Brian Pfohl -
Cyrus Felfeli -
Ty Grenier -
Joseph Blatner -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
CBRE, Inc.
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Photos
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Presented by
Oregon Driver & Motor Vehicle Services | 499 Valley River Ctr
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