620 Main StMilton-Freewater, OR 97862
- Office properties
- 990 SF
Property Details for 620 Main St
- Year built
- 1952
- Lot size
- 0.08 AC
- Property size (Sq ft)
- 990 SF
- Zone code
- C-1
- Property type
- Office properties
- Property subtype
- Other office properties
- APN
- 5N3502AD05000
- APU
- 5N3502AD05000
Description
This 1,630 square foot mixed-use building at 620 N Main St, Milton-Freewater, OR 97862, presents a unique opportunity for a restaurant, bakery, or cafe. Currently vacant, the property is zoned commercial and boasts five parking spaces. Ideal for entrepreneurs seeking a location in Oregon's burgeoning wine region, this property offers significant potential. The building, formerly a bus terminal, features high ceilings (potentially exceeding 10 feet in the central atrium area) and existing architectural drawings for a restaurant build-out. Some commercial kitchen equipment is available on-site. A substantial $150,000 grant is available for a build-to-suit partnership with the building owner, significantly reducing initial investment costs. Located in close proximity to the Rocks District, this property is perfectly positioned to capitalize on the growing wine tourism industry. The asking price is $299,000. The property will be vacant as of October 11, 2024. This is a chance to establish a premier business in a rapidly developing downtown area. Don't miss this exceptional opportunity to own a piece of Milton-Freewater's exciting future.
Valuation
by PT Realty methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $201,729
- 6.5%
- $186,212
- 7%
- $172,911
-
Comparable approach
- Method
- Valuation
- Relative Method
- $211,078
- Geo Method
- $211,078
-
Alternative Use
- Use
- Valuation
- Residential
- $230,902
- Hospitality
- $211,505
- Educational
- $175,970
- Medical
- $182,022
- Retail
- $273,731
Location Insight
- City
- Milton Freewater
- County
- Umatilla
- State
- Oregon
- Latitude
- 45.9427
- Longitude
- -118.397
- CBSA code
- 25840
- CBSA name
- HERMISTON-PENDLETON, OR MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
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