435 NE EVANS ST, McMinnville

Active

435 NE EVANS ST, McMinnville

Mc Minnville OR, 97128

$5,000,000

$294.12 per sqft

Active

17,000 sqft

Commercial

Built in 1945

Courtesy of Keller Williams Realty Portland Premiere 503-313-8262

Low vacancy, full triple net multi-suite office building. Fully rebuilt (before they opened 1-1-2017) from the studs with all new systems. This building has low maintenance costs which are fully absorbed by the tenants.The property is leased under market value with primary tenancies producing tax exempt rent. Average remaining lease length is 3.5 years with several having 60 month options. The property is estimated to produce $18,659 of net income per month, across 12 suites. Leases range from $1.07/SF to $1.60/SF. The building is currently priced at a true cap rate of 4.48%

23225891

MLSⓇ ID

November 27, 2023

Listed

May 9, 2024

Updated

Map

435 NE EVANS ST, McMinnville
Mc Minnville OR, 97128

Interior Features

Total Stories: 3
Fireplace: No
Cooling: No
Cooling Description: Other
Heating: Yes
Heating Description: Mini Split

Exterior/Building Features

Lot Size: 0.28 Acres
Roof: Flat
Sewer: Public Sewer

Other Property Details

Area Name: _156
Taxes: $10,689
Tax Frequency: Annually
Days on Market: 63
Garage: No
Parking: On Site
Parking Total: 6
View: Yes
View Description: City
County: Yamhill
Water Source: Public Water
Pool: No
Zoning: C3
Buyer Agency Compensation: 2.5%

Courtesy of Keller Williams Realty Portland Premiere, Bradley King
Listing Contact: 503-313-8262

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This content last updated on 5/9/2024, 10:04 AM UTC. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.