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408 Main Ave 9,027 SF Retail Building Tillamook, OR 97141 $2,658,981 CAD ($294.56 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Drive through easement
- Leased through 2036
Executive Summary
PRIME INVESTMENT OPPORTUNITY
This fully leased property is a rare chance to own a stable, low-maintenance asset in the heart of downtown Tillamook. U.S. Bank, a well-established national credit tenant, has occupied the building for 5 decades and just renewed its lease for another 5 years, with a 5 year renewal option, showing strong confidence in the location. Backed by a proven tenant, this is a low-risk, income-producing asset ideal for investors seeking durability, simplicity, and dependable returns.
This fully leased property is a rare chance to own a stable, low-maintenance asset in the heart of downtown Tillamook. U.S. Bank, a well-established national credit tenant, has occupied the building for 5 decades and just renewed its lease for another 5 years, with a 5 year renewal option, showing strong confidence in the location. Backed by a proven tenant, this is a low-risk, income-producing asset ideal for investors seeking durability, simplicity, and dependable returns.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
9,027 SF
Building Class
C
Year Built
1959
Price
$2,658,981 CAD
Price Per SF
$294.56 CAD
Cap Rate
6.50%
NOI
$172,834 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.81
Lot Size
0.26 AC
Zoning
TCC - Tillamook Commercial
Parking
9 Spaces (1.37 Spaces per 1,000 SF Leased)
Frontage
169’ on North Main Street
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (81)
Nearby Major Retailers
Property Taxes
| Parcel Number | R0120595 | Improvements Assessment | $1,189,081 CAD |
| Land Assessment | $213,655 CAD | Total Assessment | $1,402,736 CAD |
Property Taxes
Parcel Number
R0120595
Land Assessment
$213,655 CAD
Improvements Assessment
$1,189,081 CAD
Total Assessment
$1,402,736 CAD
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408 Main Ave
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