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Office

5th & Monroe

456 SW Monroe Ave, Corvallis, OR 97333

Listing Price: $1,400,000

Cap Rate
2.64%
Gross SF
12,524
Rentable SF
11,077
Price/Gross SF
$111.79
Lot Size
0.35 acres
Year Built
1950

Investment Overview

5th & Monroe is located in the core of Corvallis’s Central Business District (CBD), on a signalized intersection at 456 SW Monroe Avenue. It is conveniently situated adjacent to City Hall, Benton County Courthouse, established retail (including Starbucks and US Bank), and is within a mile of the Oregon State University campus. The existing 12,000 square foot multi-tenant office building is ideal for owner-users or value-add investors, with up to 5,000 square feet currently available and additional square footage in the long-term. There’s valuable off-street parking, a ratio of 1.67/1,000 square feet, and it’s adjacent to the City’s main mass-transit terminal. The property also offers an excellent re-development opportunity. The 15,000 square foot parcel is in the designated Opportunity Zone and is zoned Central Business (CB). Permitted uses include multi-family, office and retail with a 75-foot height restriction. Newly proposed zoning changes may eliminate parking restrictions for mixed-use projects and expand its mapping in the CBD. The boarding alleyway provides additional access and services.

Investment Highlights

  • Prime Central Business District Location and Retail Amenities
  • Adjacent to City Hall and Benton County Courthouse
  • Area has Established Retail Including Starbucks and US Bank
  • Oregon State University (OSU) within One Mile
  • 12,000 Square Foot Multi-Tenant Office Building
  • Off-Street Parking with 14 Surface Spaces (1.67/1,000 Ratio)
  • Perfect for Owner-Users or Value-Add Investors

Exclusively Listed By

Listing Price: $1,400,000

Cap Rate
2.64%
Gross SF
12,524
Rentable SF
11,077
Price/Gross SF
$111.79
Lot Size
0.35 acres
Year Built
1950

Investment Highlights

  • Prime Central Business District Location and Retail Amenities
  • Adjacent to City Hall and Benton County Courthouse
  • Area has Established Retail Including Starbucks and US Bank
  • Oregon State University (OSU) within One Mile
  • 12,000 Square Foot Multi-Tenant Office Building
  • Off-Street Parking with 14 Surface Spaces (1.67/1,000 Ratio)
  • Perfect for Owner-Users or Value-Add Investors

Investment Overview

5th & Monroe is located in the core of Corvallis’s Central Business District (CBD), on a signalized intersection at 456 SW Monroe Avenue. It is conveniently situated adjacent to City Hall, Benton County Courthouse, established retail (including Starbucks and US Bank), and is within a mile of the Oregon State University campus. The existing 12,000 square foot multi-tenant office building is ideal for owner-users or value-add investors, with up to 5,000 square feet currently available and additional square footage in the long-term. There’s valuable off-street parking, a ratio of 1.67/1,000 square feet, and it’s adjacent to the City’s main mass-transit terminal. The property also offers an excellent re-development opportunity. The 15,000 square foot parcel is in the designated Opportunity Zone and is zoned Central Business (CB). Permitted uses include multi-family, office and retail with a 75-foot height restriction. Newly proposed zoning changes may eliminate parking restrictions for mixed-use projects and expand its mapping in the CBD. The boarding alleyway provides additional access and services.

Exclusively Listed By

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