909 Main StMyrtle Creek, OR 97457

Property Details for 909 Main St

Year built

1984

Lot size

6.37 AC

Property size (Sq ft)

67,462 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This fee-simple, value-add shopping center, Valley View Plaza, presents a compelling investment opportunity in Myrtle Creek, Oregon. Located at 909 S Main St, 97457, this 67,286 square foot property sits on a 6.37-acre lot and boasts a prominent Main Street location, benefiting from over 10,000 vehicles per day (VPD) and proximity to I-5, adding another 30,000 VPD. The center features a highly visible pylon sign and ample parking with a dedicated turn lane. Currently operating at 66.6% occupancy, the 12-unit center is anchored by Ray's Food Place, the only traditional grocery and pharmacy in Myrtle Creek, serving as the primary retail hub for the community. Built in 1984 and significantly renovated in 2018 (including new roofing, exterior paint, and updated fascia), the Class B property offers a gross lease structure. The current NOI is $344,762, with a pro-forma NOI of $452,000, resulting in a current cap rate of 6.63% and a pro-forma cap rate of 8.69%. The asking price is $5,200,000 ($77.08/sq ft). This multi-tenant property offers significant potential for increased profitability through lease-up and operational improvements.

Location Insight

City

Myrtle Creek

County

Douglas

State

Oregon

Latitude

43.0149

Longitude

-123.292

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].