15 7Th St Madras, OR 97741

This exceptional 1,000 square foot commercial property, situated on a 0.12-acre corner lot in the heart of Madras, Oregon, presents a multitude of possibilities for the discerning investor. Located just across from a community park and only two blocks from the main street, this C2-zoned property benefits from high visibility and convenient access. The mixed-use zoning allows for a live/work arrangement, making it ideal for a variety of businesses. Furthermore, its location within the urban renewal district opens doors to potential renovation or restoration opportunities, leveraging city incentives. Preliminary discussions with the city suggest the property may be suitable for conversion to residential use, subject to city codes and buyer verification. The building includes its own dedicated parking area. The property has a recent rental history of $1,200 per month, demonstrating strong income potential. A significant advantage for buyers is the seller's willingness to facilitate a 1031 tax-deferred exchange at no additional cost. This presents a unique opportunity to acquire a versatile property in a thriving location with significant upside potential. The property is priced at $259,900.