Aspen Alley Commercial + Shovel-Ready Site 51450-51456 The Dalles-California Hwy 9,500 SF 100% Leased Retail Building La Pine, OR 97739 $2,028,779 CAD ($213.56 CAD/SF) 5% Cap Rate

A great investment/development opportunity on the major North-South state highway from California through Central Oregon to Washington State. A cash flowing property while higher and better use development plans are put in place for utilization of this 2.22 acre site. There is an existing approx. 9500 sq.ft. retail building on site that is 100% lease with performing retail businesses and adjoins the contiguous Aspen Alley retail center. There is also a small building on the southernmost lot that is leased as a local church through 2027.
The site is composed of three separate lots, all with direct access to Hwy 97. A large part of the combined acreage is undeveloped and shovel-ready bare land. The fully leased buildings provide an annual net income of $114,000. The leases are Gross Leases providing an NOI of approx. $73,563 a year. This cashflow creates a decent return while numerous potential higher and better uses can be explored and developed upon the property. The site is in the center of La Pine and zoned "Traditional Commercial," which enables a large range of commercial uses.
For more information and to arrange a tour, please contact the Broker.