1610 9Th CtHood River, OR 97031

Property Details for 1610 9Th Ct

Year built

1981

Lot size

1.17 AC

Property size (Sq ft)

13,086 SF

Zone code

C2

Property type

Office properties

Property subtype

Other office properties

APN

3N10E36CB 3800

APU

3N10E36CB3800

Description

This fee-simple, single-tenant office building presents a compelling investment opportunity. Located at 1610 9th Ct, Hood River, OR 97031, this 13,810 square foot property sits on a 1.17-acre lot and boasts 60 parking spaces (4.34/1,000 SF ratio). Constructed in 1981, the Class C building is currently 100% occupied by the Oregon Department of Human Services under a Net lease with a remaining term of approximately 2.1 years. The lease, originally commenced January 1, 2020, and expires December 31, 2026, includes two 3-year renewal options and features annual rent bumps of 2.5%. The property's Net Operating Income (NOI) is $242,963, yielding a 6.15% cap rate at an asking price of $3,950,000 ($286.02/sq ft). Zoned C2, this stabilized investment offers a secure income stream from a long-term government tenant in a prime Hood River location within the Heights neighborhood, a thriving business and medical office district. The building is a single-story structure with ample parking. This is a rare opportunity to acquire a well-maintained, single-tenant office building with a strong tenant history and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,594,201

  6.5%

  $3,317,724

  7%

  $3,080,744

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,520,102

  Geo Method

  $2,520,102

• Alternative Use

  Use

  Valuation

  Residential

  $4,113,978

  Hospitality

  $3,768,381

  Educational

  $3,135,249

  Medical

  $3,243,075

  Retail

  $4,877,054

Location Insight

City

Hood River

County

Hood River

State

Oregon

Latitude

45.6974

Longitude

-121.52

CBSA code

26220

CBSA name

HOOD RIVER, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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