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Mixed-Use

2nd & Western Corvallis Development Site

510-544 SW 2nd St, Corvallis, OR 97333

Listing Price: $2,800,000

Lot Size
0.58 acres
Price/Acre
$4,827,586
Land Type
Land

Investment Overview

2nd & Western in Corvallis, Oregon is a prime 25,000 square feet downtown development site in the Central Business District (CBD). It is designated as an Opportunity Zone (OZ), which offers tax incentives to investors. The property is income producing, available for sale or lease, and the seller is willing to consider seller-financing options. The location benefits from new MU-3 zoning, which doubles potential density as well as allows for mixed-use, multifamily, office and retail developments. The zoning has no parking restrictions and allows for a maximum height of 123 feet. It will also benefit from the newly proposed waterfront development by Brian Obie, the developer of 5th Street Public Market in Eugene. The property has ample free street parking and public lots, with alleyway access and services. The area is charming, with numerous retail amenities along 2nd Street. 2nd & Western is adjacent to the Corvallis Museum, Elements/Vue event venue, Riverfront Promenade, Safeway, and the new Courtyard by Marriott Hotel. Free public transportation is available, and the property is within blocks of City Hall, Benton County Courthouse, and the transit station. Oregon State University (OSU) is within one mile, making it an attractive location for students and faculty members. The Downtown Farmer's Market takes place every Wednesday and Saturday, April through November, adding to the area's vibrant community.

Investors have the opportunity to take advantage of the property's incredible location, OZ designation and the tax benefits that come with it. With the newly proposed waterfront development and the adjacent new museum, event venue, and hotel, the area is poised for growth and development. The new mixed-use, high-density zoning with no parking restrictions offer flexibility and possibilities for mixed-use, multifamily, office, and retail developments. The property is ideally situated within Corvallis's Central Business District, which is home to a diverse mix of businesses, restaurants, and retail establishments, adjacent to Oregon State University, a major economic driver for the region.

Investment Highlights

  • For-Sale or For-Lease, Income Producing Land
  • Prime 25,000 SF Development Site, Newly Rezoned (MU-3), Permitted Uses Include Mixed-Use, Multi-Family, Office, Retail
  • Central Business District (CBD) Location in a Designated Opportunity Zone (OZ)
  • Seller Financing Available
  • New Proposed Waterfront Development by Brian Obie, 5th Street Public Market, Eugene
  • New 123-Foot Maximum Height, No Parking or Floor Area Restrictions
  • Ample Free Street Parking and Public Lots as well as Free Public Transportation
  • Within Blocks of City Hall, Benton County Courthouse, and Transit Station and Oregon State University (OSU) Within One Mile

Exclusively Listed By

Financing By

Mixed-Use

2nd & Western Corvallis Development Site

Listing Price: $2,800,000

Lot Size
0.58 acres
Price/Acre
$4,827,586
Land Type
Land

Investment Highlights

  • For-Sale or For-Lease, Income Producing Land
  • Prime 25,000 SF Development Site, Newly Rezoned (MU-3), Permitted Uses Include Mixed-Use, Multi-Family, Office, Retail
  • Central Business District (CBD) Location in a Designated Opportunity Zone (OZ)
  • Seller Financing Available
  • New Proposed Waterfront Development by Brian Obie, 5th Street Public Market, Eugene
  • New 123-Foot Maximum Height, No Parking or Floor Area Restrictions
  • Ample Free Street Parking and Public Lots as well as Free Public Transportation
  • Within Blocks of City Hall, Benton County Courthouse, and Transit Station and Oregon State University (OSU) Within One Mile

Investment Overview

2nd & Western in Corvallis, Oregon is a prime 25,000 square feet downtown development site in the Central Business District (CBD). It is designated as an Opportunity Zone (OZ), which offers tax incentives to investors. The property is income producing, available for sale or lease, and the seller is willing to consider seller-financing options. The location benefits from new MU-3 zoning, which doubles potential density as well as allows for mixed-use, multifamily, office and retail developments. The zoning has no parking restrictions and allows for a maximum height of 123 feet. It will also benefit from the newly proposed waterfront development by Brian Obie, the developer of 5th Street Public Market in Eugene. The property has ample free street parking and public lots, with alleyway access and services. The area is charming, with numerous retail amenities along 2nd Street. 2nd & Western is adjacent to the Corvallis Museum, Elements/Vue event venue, Riverfront Promenade, Safeway, and the new Courtyard by Marriott Hotel. Free public transportation is available, and the property is within blocks of City Hall, Benton County Courthouse, and the transit station. Oregon State University (OSU) is within one mile, making it an attractive location for students and faculty members. The Downtown Farmer's Market takes place every Wednesday and Saturday, April through November, adding to the area's vibrant community. Investors have the opportunity to take advantage of the property's incredible location, OZ designation and the tax benefits that come with it. With the newly proposed waterfront development and the adjacent new museum, event venue, and hotel, the area is poised for growth and development. The new mixed-use, high-density zoning with no parking restrictions offer flexibility and possibilities for mixed-use, multifamily, office, and retail developments. The property is ideally situated within Corvallis's Central Business District, which is home to a diverse mix of businesses, restaurants, and retail establishments, adjacent to Oregon State University, a major economic driver for the region.

Exclusively Listed By

Financing By

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