For Sale
$625,000

216 13Th StPhilomath, OR 97370

Prime Philomath location, multi-tenant retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity is located in the heart of downtown Philomath, Oregon, just one block from Main Street. The property consists of three buildings situated on a 0.34-acre lot, including two commercial buildings totaling 2,472 square feet and a single-family residence with one bedroom and one bathroom. Currently, the property boasts 75% occupancy with two commercial tenants. One commercial unit leases for $850 per month, while the residential unit rents for $840 per month. A third commercial unit is currently vacant, presenting an immediate opportunity to increase revenue. The property is zoned Office-Residential (O-R), allowing for flexibility in future development. An adjacent 0.14-acre vacant lot is included in the sale, providing potential for expansion or additional development. The commercial buildings recently underwent exterior painting in Summer 2024. The property features six parking spaces and the asking price is $625,000, resulting in a price per square foot of $252.83. The current leases are on a modified basis, with a one-year term commencing June 1, 2024, and expiring May 31, 2025. The property's Assessed Parcel Numbers (APNs) are 170799 and 170807. This is a rare opportunity to acquire a multi-income-generating property in a thriving downtown location. No ground lease exists.

Highlights

  • $625,000 asking price for a 2,472 SF retail storefront in Philomath, Oregon.
  • Multi-tenant property with two commercial tenants and one residential tenant.
  • Modified lease terms with a remaining lease term of 0.5 years, commencing June 1, 2024, and expiring May 31, 2025.
  • 75% occupancy rate.
  • Located on a 0.34-acre lot with 6 parking spaces and zoned Office-Residential.
  • Includes three buildings: two commercial buildings and one residential unit (1BR/1BA).

Property Details for 216 13Th St

Property type
Retail properties, Retail space
Square Feet
2,472 SF
Class
C
Buildings
3
Stories
1
Lot Size (sq. ft)
14,810 SF

Location Insight

City
Philomath
County
Benton
State
Oregon
Latitude
44.541605
Longitude
-123.3681226
216 13Th St, Philomath, Oregon

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
216 13Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message