2272 Santiam HwyAlbany, OR 97322

Property Details for 2272 Santiam Hwy

Lot size

1.92 AC

Property type

Other commercial real estate

Property subtype

Showrooms

APN

11S 03W 08AC 00800

APU

11S03W08AC00800

Description

This exceptional 31,040 square foot retail storefront, located at 2272 Santiam Hwy SE in Albany, Oregon (97322), presents a compelling investment opportunity. Boasting a 5.46% cap rate, this property offers significant return potential. Built in 1970 and renovated in 2000, the building sits on a 1.92-acre lot and features ample parking with 160 spaces (a 2.27/1,000 sq ft ratio). The property benefits from a highly desirable location next to Heritage Mall, at a signalized intersection ensuring excellent visibility and accessibility from Santiam Highway. The NNN lease structure minimizes landlord responsibilities. The property is zoned for Regional Commercial use. Strong co-tenancy includes Joann Fabrics and Crafts, DMV, Grocery Depot, Sizzler, the Chicken Shanty, US Market, Pizza More, and Fox Den Eatery. The area also boasts a wealth of nearby retailers such as Fred Meyer, Target, Safeway, Staples, Marshalls, Ross Dress for Less, Sportsman's Warehouse, Bargersville, and Starbucks. The building includes two exterior docks, further enhancing its operational efficiency. Asking price is $4,995,000.

• CAP approach

  CAP return

  Valuation

  6%

  $22,586,278

  6.5%

  $20,848,872

  7%

  $19,359,666

• Comparable approach

  Method

  Valuation

  Relative Method

  $33,195,586

  Geo Method

  $54,003,088

• Alternative Use

  Use

  Valuation

  Residential

  $17,586,804

  Hospitality

  $16,109,418

  Educational

  $13,402,846

  Medical

  $13,863,791

  Retail

  $20,848,872

Location Insight

City

Albany

County

Linn

State

Oregon

Latitude

44.6315

Longitude

-123.078

CBSA code

10540

CBSA name

ALBANY-LEBANON, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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