Listing ID220136066
Price$750,000
StatusPending
SqFt
15,230
Acres
0.650
CountyJefferson
Year Built1937
Property TypeCommercial Sale
Multi Tenant Investment - Downtown Madras Commercial/Retail properties available. Eight retail spaces of mixed sizes and condition. The properties were built in the 30's, 40's, 50's with updates over the years. There are 4 tax lots, with over 28,000 sq. ft. of property and over 15,000 sq. ft. of retail, office and shop space. All the property will be sold to one Buyer. Currently there are 5 tenants and 3 vacant units that require some upgrades prior to being rented out. The County Market Value of the properties is nearly $1,100,000. Tax Lot 3700 is a corner lot paved parking lot on 5th Street (North Bound US 97/26), used for parking, festivals and food carts potentially. Tax Lot 3600 has 6 rental spaces 100% occupied. Tax Lot 3500 is a large open area with garage areas in the rear on the alley. Currently a Dance Studio, building needs updating. Tax Lot 3000 is a large shop former repair garage with high ceilings and doors. Seller will consider contract to carry terms.
County
Jefferson
Property Type
Commercial Sale
Subdivision
Palmain
Year Built
1937
Zoning
C2
Basement
Partial
Cooling
Central Air, Other, Zoned
Flooring
Carpet, Concrete, Laminate, Other, Tile, Vinyl
Heating
Electric, Forced Air, Natural Gas, Other
Levels
One
Unit 1: Square Footage
1300
Unit 2: Square Footage
800
Unit 3: Square Footage
950
Unit 3: Status
Leased
Unit 4: Square Footage
450
Unit 5: Square Footage
400
Unit 6: Square Footage
500
Unit 7: Square Footage
5382
Unit 8: Square Footage
4260
Construction Materials
Block, Brick, Frame, Unknown
Flood
Plain
Foundation Details
Block, Concrete Perimeter, Other, Slab, Stemwall
Lot Features
Corner Lot, Landscaped, Level
Lot Size Square Feet
28314
New Construction
no
Number of Parking Spaces
20
Number of Units Total
8
Parking
Yes
Parking Features
Alley Access, Asphalt, Driveway, On Street, Parking Lot
Roof
Asphalt, Built-Up, Composition, Rolled/Hot Mop
Sewer
Public Sewer
Water Source
Public
Building Area Source
Assessor
Additional Features
Bath Common Area, Office Space, Separate Electric Meters, Separate Gas Meters, Separate Water Meters
Business Type
Arts and Entertainment, Dance Studio, Fitness, Food & Beverage, Grocery, Income/Investment, Medical, Mixed, Other, Professional/Office, Real Estate, Restaurant, Retail
Covenants, Conditions & Restrictions
no
Foreign Investment in Real Property Tax Act
no
Government Overlay
Opportunity Zone, Urban Renewal
Power Production
Public Utilities
Preferred Escrow Company & Officer
Ameri Title Madras
Section
Not Applicable
Unit 1: Status
Leased
Unit 1: Unit Number
129 S 5th
Unit 2: Status
Leased
Unit 2: Unit Number
141 S 5th
Unit 3: Unit Number
155 S 5th
Unit 4: Status
Leased
Unit 4: Unit Number
161 S 5th
Unit 5: Status
Vacant
Unit 5: Unit Number
129 S 5th
Unit 6: Status
Vacant
Unit 6: Unit Number
129 S 5th
Unit 7: Status
Leased
Unit 7: Unit Number
169 SE 5th
Unit 8: Status
Vacant
Unit 8: Unit Number
156 SE 6th
Existing Lease Type
Call Listing Agent, Escalation Clause, Gross, Month To Month, Oral
Owner Pays
Other
Special Assessments
None
Special Listing Conditions
Standard
Tax Annual Amount
13722.77
Tax Lot
3000, 3500, 3600, 3700
Tax Map Number
111312BB
Tax Year
2021
Tenant Pays
Other
Unit 1: Monthly Rent
790
Unit 2: Monthly Rent
850
Unit 3: Monthly Rent
760
Unit 4: Monthly Rent
495
Unit 5: Monthly Rent
280
Unit 6: Monthly Rent
350
Unit 7: Monthly Rent
1500
Unit 8: Monthly Rent
1200
Contact - Listing ID 220136066
Mike Connell & Alpine Real Estate
2214 NE Division St.
Bend, OR 97701
Phone: 541-480-0120
Data services provided by IDX Broker
