Albany, OR 97321

Property Details

Lot size

0.16 AC

Property size (Sq ft)

3,854 SF

Property type

Other investment properties

Property subtype

Investment properties

Description

This exceptional investment opportunity presents a fully renovated multi-tenant building in vibrant downtown Albany, Oregon. The property, totaling 3,854 square feet on a 0.16-acre lot, underwent a complete transformation in 2023. Improvements include a brand-new TPO membrane roof, upgraded electrical service, extensive plumbing updates, and stylish modern finishes throughout. The building boasts two strong tenants. The anchor tenant, Greyhound Tavern, occupies over 5,000 square feet and recently signed a five-year, net-net-net (NNN) lease at a monthly rent of $5,000. Their space features a custom wood-fired pizza oven and dedicated event space, adding significant value and appeal. The second tenant, Sugar J's Ice Cream, has 2.5 years remaining on their three-year lease, paying $1,475 per month plus a $75 utility fee. This turnkey investment offers a compelling blend of stable income streams, modern amenities, and a prime location in a rapidly growing downtown area. The property's recent renovations ensure long-term operational efficiency and minimize future maintenance costs. This is an ideal opportunity for investors seeking a strong return on investment in a thriving Oregon market. The asking price is $970,000.

Location Insight

City

Albany

County

Linn

State

Oregon

Latitude

44.6367

Longitude

-123.105

FAQs

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