1145 Main AveTillamook, OR 97141

Property Details for 1145 Main Ave

Year built

1978

Lot size

0.67 AC

Property size (Sq ft)

2,657 SF

Zone code

C-H

Property type

Turn key restaurants

APN

1S0919-C0-01000

APU

1S0919C001000

Description

This exceptional 2,657 square foot commercial building is ideally situated on Highway 101 in Tillamook, Oregon, boasting a highly desirable location with significant traffic volume. The free-standing structure sits on a 0.67-acre lot and includes an extra-large parking area for ample customer convenience. The building has undergone recent significant improvements, including a new roof installed in August 2017 at a cost of $65,000, and fresh exterior paint applied in 2019. Currently leased to a Chinese restaurant on a month-to-month basis for over 12 years, the tenant has expressed interest in a long-term lease agreement. This presents a unique opportunity for both owner-occupancy and investment purposes. The property's strong location, recent upgrades, and established tenancy make it an attractive proposition for a variety of commercial uses. The asking price is $690,000. This is a rare chance to acquire a well-maintained, high-visibility commercial property in a thriving Oregon coastal community. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $717,543

  6.5%

  $662,348

  7%

  $615,037

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,054,590

  Geo Method

  $1,289,446

• Alternative Use

  Use

  Valuation

  Residential

  $558,715

  Hospitality

  $511,780

  Educational

  $425,795

  Medical

  $440,439

  Retail

  $662,348

Location Insight

City

Tillamook

County

Tillamook

State

Oregon

Latitude

45.4648

Longitude

-123.844

Property Tax & Assessments

FAQs

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