1147 Richland LnPrineville, OR 97754

Property Details for 1147 Richland Ln

Year built

1945

Lot size

0.27 AC

Property size (Sq ft)

1,593 SF

Property type

Mixed-use properties

Property subtype

Other mixed-use properties

Description

This exceptional mixed-use property in Prineville, Oregon, presents a compelling investment opportunity. Located at 1147 NW Richland Ln, this 1,593 square foot building sits on a 0.27-acre lot and boasts a 7.76% cap rate. Currently operating at 100% occupancy with a single tenant generating a substantial $24,752 annual net operating income (NOI), this stabilized investment offers a consistent monthly rental income of $2,062.50. The property, built in 1945 and classified as Class B, is zoned C2, allowing for diverse commercial and residential uses. The single-story building features a recently upgraded roof. The property's features include ample parking and a desirable location along Ochoco Creek. This turnkey investment is ideal for those seeking a stable income stream with potential for future growth. The asking price is $319,000, translating to $200.25 per square foot. The property's history of occupancy dates back to February 1, 2001. An adjacent property is also available for purchase, offering the potential for expansion or a larger investment portfolio.

Location Insight

City

Prineville

County

Crook

State

Oregon

Latitude

44.3066

Longitude

-120.861

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