124 Main StSheridan, OR 97378

Property Details for 124 Main St

Lot size

0.19 AC

Zone code

C

Property type

Retail properties

Property subtype

Retail space

APN

R5635BA 10600

APU

R5635BA10600

Description

Exceptional investment opportunity in Sheridan, Oregon. This 5,800 square foot, single-story building at 124 E Main St is situated on a 0.2-acre lot and zoned C. Formerly known as the Huntley Building, this property presents a unique chance to complete a partially renovated riverside restaurant. Construction is approximately 60% complete, featuring a new foundation, updated electrical (though not yet fully distributed), roughed-in plumbing and electrical outlets, and a fire sprinkler system. A grease trap has also been installed. While the exterior remains untouched, the City of Sheridan offers grant funds for exterior improvements. The property is vacant and has been in its current state for approximately 2-3 years due to a lack of subcontractor activity. This distressed sale presents a motivated seller eager to collaborate with qualified buyers. Built in 1935 and renovated in 2024 (partially), this building offers endless possibilities for a discerning investor seeking a prime location next to the Yamhill River. The property's APN is 222146. This is an owner/user investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,211,503

  6.5%

  $2,041,387

  7%

  $1,895,574

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,250,298

  Geo Method

  $3,974,135

• Alternative Use

  Use

  Valuation

  Residential

  $1,721,986

  Hospitality

  $1,577,330

  Educational

  $1,312,320

  Medical

  $1,357,453

  Retail

  $2,041,387

Location Insight

City

Sheridan

County

Yamhill

State

Oregon

Latitude

45.0992

Longitude

-123.395

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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